DLD Asset Management LP Takes Position in Alight, Inc. (NYSE:ALIT)

DLD Asset Management LP acquired a new position in shares of Alight, Inc. (NYSE:ALIT) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 125,000 shares of the company’s stock, valued at approximately $1,151,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ALIT. Glenview Capital Management LLC raised its position in shares of Alight by 354.8% in the 4th quarter. Glenview Capital Management LLC now owns 7,825,974 shares of the company’s stock worth $65,425,000 after acquiring an additional 6,105,264 shares in the last quarter. ArrowMark Colorado Holdings LLC increased its holdings in Alight by 29.7% in the fourth quarter. ArrowMark Colorado Holdings LLC now owns 26,255,426 shares of the company’s stock worth $219,495,000 after purchasing an additional 6,017,129 shares in the last quarter. State Street Corp lifted its stake in Alight by 616.8% in the second quarter. State Street Corp now owns 5,799,562 shares of the company’s stock valued at $39,147,000 after buying an additional 4,990,518 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of Alight by 500.3% during the 2nd quarter. Goldman Sachs Group Inc. now owns 5,138,530 shares of the company’s stock worth $34,685,000 after buying an additional 4,282,526 shares in the last quarter. Finally, Kinney Asset Management LLC acquired a new stake in shares of Alight during the 4th quarter worth approximately $33,281,000. 79.56% of the stock is owned by institutional investors and hedge funds.

Alight Stock Up 1.9 %

NYSE ALIT traded up $0.14 on Monday, reaching $7.35. The company had a trading volume of 432,231 shares, compared to its average volume of 2,870,401. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $4.10 billion, a P/E ratio of -14.42, a P/E/G ratio of 2.01 and a beta of 0.79. Alight, Inc. has a 52-week low of $7.01 and a 52-week high of $10.19. The company’s fifty day moving average is $8.69 and its 200 day moving average is $8.87.

Alight (NYSE:ALIT) last posted its quarterly earnings data on Tuesday, August 1st. The company reported $0.07 EPS for the quarter, beating the consensus estimate of $0.06 by $0.01. Alight had a positive return on equity of 3.32% and a negative net margin of 7.12%. The business had revenue of $806.00 million for the quarter, compared to the consensus estimate of $796.54 million. Sell-side analysts anticipate that Alight, Inc. will post 0.36 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. KeyCorp cut their target price on shares of Alight from $15.00 to $12.00 and set an “overweight” rating on the stock in a research note on Thursday, August 3rd. Needham & Company LLC restated a “buy” rating and issued a $13.00 target price on shares of Alight in a research note on Wednesday, August 2nd. TheStreet raised Alight from a “d” rating to a “c-” rating in a research note on Thursday, August 17th. Finally, Citigroup started coverage on Alight in a research note on Monday, June 12th. They issued a “buy” rating and a $12.00 price objective for the company. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $13.00.

Insider Transactions at Alight

In related news, major shareholder Holdings I/Ii Gp L. Blackstone sold 14,704,603 shares of the business’s stock in a transaction on Tuesday, August 22nd. The stock was sold at an average price of $7.98, for a total transaction of $117,342,731.94. Following the sale, the insider now directly owns 43,602 shares in the company, valued at approximately $347,943.96. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 3.96% of the company’s stock.

Alight Company Profile

Alight, Inc provides cloud-based integrated digital human capital and business solutions in the United States and internationally. It operates through three segments: Employer Solutions, Professional Services, and Hosted Business. The company's solutions enable employees to enrich their health, wealth, and wellbeing, which helps organizations achieve a high-performance culture.