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

Brevan Howard Capital Management LP raised its holdings in shares of Alight, Inc. (NYSE:ALIT) by 989.3% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 859,581 shares of the company’s stock after acquiring an additional 780,670 shares during the period. Brevan Howard Capital Management LP owned approximately 0.16% of Alight worth $2,802,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. EverSource Wealth Advisors LLC boosted its position in shares of Alight by 152.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 5,201 shares of the company’s stock worth $29,000 after purchasing an additional 3,138 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in Alight by 4.7% in the second quarter. PNC Financial Services Group Inc. now owns 72,666 shares of the company’s stock valued at $411,000 after purchasing an additional 3,295 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its stake in Alight by 68.8% in the second quarter. Nomura Asset Management Co. Ltd. now owns 8,100 shares of the company’s stock valued at $46,000 after buying an additional 3,300 shares during the period. Winslow Asset Management Inc. boosted its holdings in Alight by 21.7% during the second quarter. Winslow Asset Management Inc. now owns 19,355 shares of the company’s stock worth $110,000 after buying an additional 3,450 shares during the last quarter. Finally, Strs Ohio bought a new position in Alight during the first quarter worth about $25,000. Institutional investors and hedge funds own 96.74% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on ALIT. Weiss Ratings restated a “sell (d-)” rating on shares of Alight in a research report on Wednesday, January 21st. KeyCorp lowered shares of Alight from an “overweight” rating to a “sector weight” rating in a research note on Thursday, February 19th. Wall Street Zen cut shares of Alight from a “hold” rating to a “sell” rating in a report on Saturday, February 28th. DA Davidson cut their target price on shares of Alight from $6.00 to $5.00 and set a “buy” rating on the stock in a report on Tuesday, February 10th. Finally, Citigroup cut shares of Alight from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $6.50 to $1.00 in a research report on Friday, February 20th. Three analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Alight presently has an average rating of “Hold” and a consensus target price of $3.56.

Alight Trading Down 13.5%

NYSE ALIT opened at $0.79 on Tuesday. Alight, Inc. has a one year low of $0.65 and a one year high of $6.39. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.31 and a quick ratio of 1.31. The firm has a market cap 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. The stock’s 50-day moving average is $1.30 and its 200-day moving average is $2.22.

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

Insider Buying and Selling at Alight

In related news, CEO Rohit Verma purchased 112,000 shares of Alight stock in a transaction dated Thursday, March 12th. The stock was bought at an average price of $0.89 per share, for a total transaction of $99,680.00. Following the completion of the acquisition, the chief executive officer directly owned 1,134,883 shares of the company’s stock, valued at $1,010,045.87. This represents a 10.95% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.93% of the stock is owned by company 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.