Highland Peak Capital LLC Buys New Holdings in Alight, Inc. (NYSE:ALIT)

Highland Peak Capital LLC acquired a new stake in Alight, Inc. (NYSE:ALIT) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,165,120 shares of the company’s stock, valued at approximately $9,938,000. Alight accounts for approximately 6.4% of Highland Peak Capital LLC’s investment portfolio, making the stock its 7th biggest holding. Highland Peak Capital LLC owned about 0.21% of Alight at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Neuberger Berman Group LLC boosted its position in shares of Alight by 18.3% in the fourth quarter. Neuberger Berman Group LLC now owns 28,359 shares of the company’s stock worth $242,000 after buying an additional 4,385 shares during the period. Fidelity National Financial Inc. boosted its position in shares of Alight by 11.5% in the fourth quarter. Fidelity National Financial Inc. now owns 22,300,000 shares of the company’s stock worth $190,219,000 after buying an additional 2,300,000 shares during the period. Trexquant Investment LP purchased a new stake in shares of Alight in the fourth quarter worth about $1,035,000. UBS Group AG boosted its position in shares of Alight by 1,767.5% in the fourth quarter. UBS Group AG now owns 4,998,050 shares of the company’s stock worth $42,633,000 after buying an additional 4,730,410 shares during the period. Finally, Norges Bank purchased a new stake in shares of Alight in the fourth quarter worth about $42,947,000. Hedge funds and other institutional investors own 96.74% of the company’s stock.

Alight Stock Performance

Shares of NYSE:ALIT traded down $0.16 during trading on Friday, hitting $8.19. 7,482,774 shares of the company traded hands, compared to its average volume of 6,838,912. The stock has a market capitalization of $4.60 billion, a price-to-earnings ratio of -13.61, a PEG ratio of 1.41 and a beta of 0.94. The business’s fifty day moving average is $9.00 and its 200-day moving average is $8.64. Alight, Inc. has a one year low of $6.33 and a one year high of $10.38. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.61.

Alight (NYSE:ALIT) last issued its quarterly earnings data on Wednesday, February 21st. The company reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.06. Alight had a positive return on equity of 5.14% and a negative net margin of 9.19%. The business had revenue of $960.00 million during the quarter, compared to analyst estimates of $1.03 billion. As a group, equities analysts predict that Alight, Inc. will post 0.5 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ALIT has been the topic of several recent analyst reports. Needham & Company LLC cut their price target on Alight from $13.00 to $11.00 and set a “buy” rating on the stock in a research note on Thursday, May 9th. Canaccord Genuity Group boosted their price target on Alight from $12.00 to $13.00 and gave the stock a “buy” rating in a research note on Thursday, March 21st. UBS Group boosted their price target on Alight from $12.00 to $13.00 and gave the stock a “buy” rating in a research note on Thursday, March 21st. Wedbush cut their price target on Alight from $14.00 to $12.00 and set an “outperform” rating on the stock in a research note on Friday, May 10th. Finally, KeyCorp cut their price target on Alight from $12.00 to $11.00 and set an “overweight” rating on the stock in a research note on Thursday, May 9th. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat, Alight presently has a consensus rating of “Buy” and an average price target of $12.00.

Insider Buying and Selling

In related news, CEO Stephan Scholl sold 428,574 shares of the stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $9.81, for a total value of $4,204,310.94. Following the completion of the transaction, the chief executive officer now directly owns 8,198,199 shares of the company’s stock, valued at approximately $80,424,332.19. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Alight news, CEO Stephan Scholl sold 428,574 shares of the stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $9.81, for a total transaction of $4,204,310.94. Following the completion of the transaction, the chief executive officer now directly owns 8,198,199 shares of the company’s stock, valued at approximately $80,424,332.19. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Katie J. Rooney sold 2,777 shares of the stock in a transaction on Monday, April 1st. The shares were sold at an average price of $9.70, for a total value of $26,936.90. Following the transaction, the insider now directly owns 2,927,314 shares of the company’s stock, valued at $28,394,945.80. The disclosure for this sale can be found here. Insiders sold 543,029 shares of company stock valued at $12,385,217 in the last three months. 3.96% of the stock is currently owned by corporate insiders.

About Alight

Alight, Inc provides cloud-based integrated digital human capital and business solutions worldwide. The company operates through two segments, Employer Solutions and Professional Services. The Employer Solutions segment offers employee wellbeing, integrated benefits administration, healthcare navigation, financial wellbeing, leave of absence management, retiree healthcare and payroll; and operates AI-led capabilities software.