Tejara Capital Ltd Increases Stock Holdings in Alight, Inc. $ALIT

Tejara Capital Ltd lifted its position in shares of Alight, Inc. (NYSE:ALIT) by 208.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,367,529 shares of the company’s stock after buying an additional 924,200 shares during the quarter. Alight makes up about 0.6% of Tejara Capital Ltd’s holdings, making the stock its 28th largest position. Tejara Capital Ltd’s holdings in Alight were worth $2,667,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Wellington Management Group LLP grew its stake in Alight by 289.1% in the 3rd quarter. Wellington Management Group LLP now owns 13,909,404 shares of the company’s stock valued at $45,345,000 after acquiring an additional 10,334,915 shares during the last quarter. Millennium Management LLC increased its holdings in Alight by 13,050.9% during the 3rd quarter. Millennium Management LLC now owns 6,964,185 shares of the company’s stock valued at $22,703,000 after acquiring an additional 6,911,229 shares in the last quarter. Bridgeway Capital Management LLC acquired a new position in Alight during the third quarter worth about $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 lifted 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 purchasing an additional 2,331,077 shares in the last quarter. 96.74% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO Rohit Verma purchased 112,000 shares of the firm’s stock in a transaction on Thursday, March 12th. The shares were bought at an average price of $0.89 per share, for a total transaction of $99,680.00. Following the acquisition, the chief executive officer directly owned 1,134,883 shares in the company, valued at $1,010,045.87. This trade represents a 10.95% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this link. Insiders have purchased a total of 242,000 shares of company stock worth $201,280 over the last quarter. Company insiders own 1.93% of the company’s stock.

Analysts Set New Price Targets

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

Alight Trading Up 0.9%

NYSE ALIT opened at $0.80 on Friday. The company has a market cap of $427.07 million, a P/E ratio of -0.14, a P/E/G ratio of 0.25 and a beta of 1.56. Alight, Inc. has a 12 month low of $0.48 and a 12 month high of $6.11. The company has a debt-to-equity ratio of 1.92, a current ratio of 1.42 and a quick ratio of 1.42. The company has a 50-day moving average of $0.71 and a 200-day moving average of $1.45.

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

More 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 Company Profile

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.