Alight, Inc. $ALIT Shares Acquired by Tejara Capital Ltd

Tejara Capital Ltd lifted its holdings in shares of Alight, Inc. (NYSE:ALIT) by 208.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,367,529 shares of the company’s stock after acquiring an additional 924,200 shares during the period. Alight accounts for about 0.6% of Tejara Capital Ltd’s holdings, making the stock its 28th biggest position. Tejara Capital Ltd owned approximately 0.26% of Alight worth $2,667,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Wellington Management Group LLP boosted its stake in Alight by 289.1% during the 3rd quarter. Wellington Management Group LLP now owns 13,909,404 shares of the company’s stock worth $45,345,000 after purchasing an additional 10,334,915 shares during the period. Millennium Management LLC increased its stake in Alight by 13,050.9% in the third quarter. Millennium Management LLC now owns 6,964,185 shares of the company’s stock valued at $22,703,000 after purchasing an additional 6,911,229 shares during the period. Bridgeway Capital Management LLC acquired a new position in Alight in the third quarter valued at $10,232,000. Squarepoint Ops LLC purchased a new stake in shares of Alight in the third quarter valued at about $8,063,000. Finally, Man Group plc raised its holdings in shares of Alight by 155.4% in the second quarter. Man Group plc now owns 3,830,799 shares of the company’s stock valued at $21,682,000 after buying an additional 2,331,077 shares during the last quarter. 96.74% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Rohit Verma bought 112,000 shares of the company’s stock in a transaction on Thursday, March 12th. The stock was bought at an average cost of $0.89 per share, with a total value of $99,680.00. Following the completion of the acquisition, the chief executive officer owned 1,134,883 shares in the company, valued at approximately $1,010,045.87. This represents a 10.95% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders have bought 242,000 shares of company stock worth $201,280 in the last quarter. Corporate insiders own 1.93% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on ALIT. Wall Street Zen raised Alight from a “sell” rating to a “hold” rating in a report on Saturday, April 25th. Needham & Company LLC cut Alight from a “buy” rating to a “hold” rating in a research report on Thursday, February 19th. Citigroup downgraded Alight from a “buy” rating to a “neutral” rating and lowered their target price for the company from $6.50 to $1.00 in a research note on Friday, February 20th. KeyCorp cut Alight from an “overweight” rating to a “sector weight” rating in a research note on Thursday, February 19th. Finally, Bank of America assumed coverage on Alight in a report on Tuesday, February 17th. They set an “underperform” rating and a $1.40 price target for the company. Three equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $3.56.

Key Alight News

Here are the key news stories impacting Alight this week:

• Neutral Sentiment: Several law firms, including Rosen, Glancy Prongay Wolke & Rotter, Faruqi & Faruqi, Robbins Geller, the Schall Law Firm, and Frank R. Cruz, reiterated the upcoming lead-plaintiff deadline in the Alight securities class action. Article: ALIGHT DEADLINE: ROSEN, TRUSTED INVESTOR COUNSEL, Encourages Alight, Inc. Investors to Secure Counsel Before Important May 15 Deadline in Securities Class Action – ALIT
• Positive Sentiment: Alight announced an expansion of its Partner Network with Cylinder Health and Leap, which could strengthen its employee health solutions offering and support future growth. Article: Alight Adds Cylinder and Leap to Partner Network
• Neutral Sentiment: Brokerage coverage noted a consensus “Hold” rating, which does not materially shift the near-term outlook but suggests investors remain cautious. Article: Alight, Inc. (NYSE:ALIT) Given Consensus Recommendation of “Hold” by Brokerages

Alight Price Performance

Alight stock opened at $0.80 on Friday. The company has a market cap of $427.07 million, a P/E ratio of -0.14, a price-to-earnings-growth ratio of 0.25 and a beta of 1.56. Alight, Inc. has a one year low of $0.48 and a one year high of $6.11. The business has a fifty day moving average of $0.71 and a two-hundred day moving average of $1.45. The company has a debt-to-equity ratio of 1.92, a quick ratio of 1.42 and a current ratio of 1.42.

Alight (NYSE:ALIT) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.03. The business had revenue of $534.00 million for the quarter, compared to analysts’ expectations of $502.74 million. Alight had a negative net margin of 137.50% and a positive return on equity of 13.04%. As a group, analysts predict that Alight, Inc. will post 0.28 earnings per share for the current fiscal year.

About Alight

Alight, Inc (NYSE: ALIT) is a leading provider of cloud-based human capital and financial solutions designed to help organizations and their employees navigate critical life and work events. The company offers a comprehensive suite of services, including payroll administration, benefits enrollment and management, workforce and analytics solutions, health and welfare support, and financial wellness programs. By integrating advanced technology with expert advisory services, Alight aims to simplify the administration of human resources and benefits functions, improve employee engagement and productivity, and drive cost efficiencies for its clients.

Alight’s core platform leverages cloud architecture and automation to deliver scalable and secure solutions that address the needs of mid-sized and large enterprises.