Brevan Howard Capital Management LP Purchases 780,670 Shares of Alight, Inc. $ALIT

Brevan Howard Capital Management LP raised its position in Alight, Inc. (NYSE:ALIT) by 989.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 859,581 shares of the company’s stock after purchasing an additional 780,670 shares during the quarter. Brevan Howard Capital Management LP’s holdings in Alight were worth $2,802,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Cantor Fitzgerald L. P. acquired a new position in shares of Alight during the third quarter worth about $261,000. Bank of America Corp DE raised its position in Alight by 37.2% in the 3rd quarter. Bank of America Corp DE now owns 3,498,797 shares of the company’s stock valued at $11,406,000 after buying an additional 948,323 shares during the last quarter. Boothbay Fund Management LLC bought a new stake in Alight in the 3rd quarter valued at approximately $129,000. Aristotle Capital Boston LLC lifted its stake in Alight by 64.7% in the 3rd quarter. Aristotle Capital Boston LLC now owns 3,161,157 shares of the company’s stock valued at $10,305,000 after acquiring an additional 1,241,326 shares in the last quarter. Finally, Algert Global LLC acquired a new position in Alight during the 3rd quarter worth approximately $2,002,000. 96.74% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CEO Rohit Verma acquired 112,000 shares of the firm’s stock in a transaction dated Thursday, March 12th. The stock was bought at an average price of $0.89 per share, with a total value of $99,680.00. Following the transaction, the chief executive officer directly owned 1,134,883 shares in the company, valued at approximately $1,010,045.87. The trade was a 10.95% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.93% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

ALIT has been the topic of a number of recent research reports. Citigroup downgraded shares of Alight from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $6.50 to $1.00 in a report on Friday, February 20th. Needham & Company LLC cut shares of Alight from a “buy” rating to a “hold” rating in a report on Thursday, February 19th. DA Davidson decreased their target price on shares of Alight from $6.00 to $5.00 and set a “buy” rating for the company in a research report on Tuesday, February 10th. Wall Street Zen lowered shares of Alight from a “hold” rating to a “sell” rating in a research note on Saturday, February 28th. Finally, KeyCorp downgraded shares of Alight from an “overweight” rating to a “sector weight” rating in a research note on Thursday, February 19th. Three research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $3.56.

Alight Stock Down 13.5%

NYSE:ALIT opened at $0.79 on Tuesday. Alight, Inc. has a twelve month low of $0.65 and a twelve month high of $6.39. The firm has a market capitalization of $423.32 million, a price-to-earnings ratio of -0.13, a price-to-earnings-growth ratio of 0.50 and a beta of 1.17. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 1.90. The stock’s 50 day moving average price is $1.30 and its two-hundred day moving average price is $2.22.

Alight (NYSE:ALIT) last released its quarterly earnings data on Thursday, February 19th. The company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.07). Alight had a negative net margin of 136.91% and a positive return on equity of 9.61%. The company had revenue of $653.00 million during the quarter, compared to analyst estimates of $654.30 million. Equities research analysts expect that Alight, Inc. will post 0.54 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.