Moore Capital Management LP Increases Stock Holdings in Alight, Inc. $ALIT

Moore Capital Management LP increased its stake in shares of Alight, Inc. (NYSE:ALIT) by 33.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 2,720,000 shares of the company’s stock after purchasing an additional 680,000 shares during the quarter. Moore Capital Management LP’s holdings in Alight were worth $8,867,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Invenomic Capital Management LP bought a new stake in Alight in the third quarter worth $6,211,000. Ionic Capital Management LLC increased its position in Alight by 7.6% during the third quarter. Ionic Capital Management LLC now owns 567,752 shares of the company’s stock valued at $1,851,000 after acquiring an additional 40,000 shares during the last quarter. Kinney Asset Management LLC raised its stake in shares of Alight by 3.2% in the third quarter. Kinney Asset Management LLC now owns 7,030,417 shares of the company’s stock valued at $22,919,000 after acquiring an additional 220,000 shares during the period. Gotham Asset Management LLC raised its stake in shares of Alight by 99.3% in the third quarter. Gotham Asset Management LLC now owns 229,166 shares of the company’s stock valued at $747,000 after acquiring an additional 114,158 shares during the period. Finally, Elevation Point Wealth Partners LLC bought a new stake in shares of Alight in the 3rd quarter worth about $37,000. Hedge funds and other institutional investors own 96.74% of the company’s stock.

Alight Stock Down 13.5%

Shares of ALIT opened at $0.79 on Tuesday. The firm has a fifty day moving average price of $1.30 and a 200-day moving average price of $2.22. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 1.90. The firm has a market capitalization of $423.32 million, a P/E ratio of -0.13, a P/E/G ratio of 0.50 and a beta of 1.17. Alight, Inc. has a 12-month low of $0.65 and a 12-month high of $6.39.

Alight (NYSE:ALIT) last posted its quarterly earnings results 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 positive return on equity of 9.61% and a negative net margin of 136.91%.The company had revenue of $653.00 million during the quarter, compared to analysts’ expectations of $654.30 million. Equities research analysts expect that Alight, Inc. will post 0.54 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Alight in a research note on Wednesday, January 21st. Wall Street Zen lowered shares of Alight from a “hold” rating to a “sell” rating in a research report on Saturday, February 28th. KeyCorp lowered Alight from an “overweight” rating to a “sector weight” rating in a research report on Thursday, February 19th. Citigroup cut Alight from a “buy” rating to a “neutral” rating and cut their target price for the company from $6.50 to $1.00 in a research note on Friday, February 20th. Finally, Needham & Company LLC downgraded Alight from a “buy” rating to a “hold” rating in a report on Thursday, February 19th. 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 stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $3.56.

Insider Buying and Selling

In related news, CEO Rohit Verma bought 112,000 shares of the company’s stock in a transaction on Thursday, March 12th. The shares were acquired at an average cost of $0.89 per share, for a total transaction of $99,680.00. Following the purchase, the chief executive officer directly owned 1,134,883 shares of the company’s stock, valued at approximately $1,010,045.87. The trade was a 10.95% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.93% of the stock is owned by corporate insiders.

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.