Monashee Investment Management LLC Has $1.54 Million Position in Alight, Inc. (NYSE:ALIT)

Monashee Investment Management LLC trimmed its holdings in Alight, Inc. (NYSE:ALIT) by 82.5% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 166,288 shares of the company’s stock after selling 783,712 shares during the quarter. Monashee Investment Management LLC’s holdings in Alight were worth $1,537,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Nomura Asset Management Co. Ltd. acquired a new position in shares of Alight during the first quarter valued at $27,000. Advisor Group Holdings Inc. grew its position in shares of Alight by 65.8% during the 1st quarter. Advisor Group Holdings Inc. now owns 4,725 shares of the company’s stock worth $47,000 after buying an additional 1,875 shares during the period. Quantbot Technologies LP bought a new stake in shares of Alight during the first quarter worth approximately $49,000. Royal Bank of Canada lifted its holdings in Alight by 36.8% in the third quarter. Royal Bank of Canada now owns 6,393 shares of the company’s stock valued at $47,000 after buying an additional 1,720 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its stake in Alight by 567.5% in the second quarter. Allspring Global Investments Holdings LLC now owns 6,521 shares of the company’s stock valued at $60,000 after acquiring an additional 5,544 shares during the last quarter. Institutional investors and hedge funds own 79.56% of the company’s stock.

Insider Transactions at Alight

In other Alight news, major shareholder Holdings I/Ii Gp L. Blackstone sold 14,704,603 shares of the business’s stock in a transaction dated Tuesday, August 22nd. The shares were 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 of the company’s stock, valued at approximately $347,943.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, major shareholder Holdings I/Ii Gp L. Blackstone sold 14,704,603 shares of the business’s stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of $7.98, for a total transaction of $117,342,731.94. Following the transaction, the insider now directly owns 43,602 shares in the company, valued at approximately $347,943.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Richard N. Massey purchased 50,000 shares of the stock in a transaction on Thursday, October 5th. The shares were acquired at an average cost of $6.45 per share, for a total transaction of $322,500.00. Following the transaction, the director now owns 1,370,169 shares of the company’s stock, valued at $8,837,590.05. The disclosure for this purchase can be found here. Company insiders own 3.96% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on ALIT. TheStreet downgraded Alight from a “c-” rating to a “d+” rating in a research note on Thursday, October 12th. Needham & Company LLC reaffirmed a “buy” rating and issued a $13.00 price target on shares of Alight in a research note on Thursday, September 14th. Wedbush decreased their price objective on shares of Alight from $13.00 to $11.00 and set an “outperform” rating for the company in a report on Thursday, November 2nd. UBS Group assumed coverage on shares of Alight in a report on Tuesday, November 7th. They issued a “buy” rating and a $10.00 target price on the stock. Finally, KeyCorp decreased their price target on shares of Alight from $15.00 to $12.00 and set an “overweight” rating for the company in a report on Thursday, August 3rd. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Alight has an average rating of “Buy” and a consensus price target of $12.29.

Alight Stock Up 1.5 %

Shares of Alight stock traded up $0.11 during trading on Monday, reaching $7.43. The stock had a trading volume of 373,156 shares, compared to its average volume of 3,062,710. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $4.11 billion, a price-to-earnings ratio of -14.08, a P/E/G ratio of 1.78 and a beta of 0.82. Alight, Inc. has a 52 week low of $6.33 and a 52 week high of $10.19. The stock has a fifty day moving average price of $7.06 and a two-hundred day moving average price of $8.13.

Alight Profile

Alight, Inc provides cloud-based integrated digital human capital and business solutions worldwide. Its solutions enable employees to enrich their health, wealth, and wellbeing that helps organizations achieve a high-performance culture. The company is based in Lincolnshire, Illinois.