Alight, Inc. $ALIT Shares Bought by Rovida Advisors Inc.

Rovida Advisors Inc. lifted its stake in Alight, Inc. (NYSE:ALIT) by 18.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,700,000 shares of the company’s stock after acquiring an additional 589,157 shares during the quarter. Alight makes up approximately 10.4% of Rovida Advisors Inc.’s investment portfolio, making the stock its 4th largest position. Rovida Advisors Inc.’s holdings in Alight were worth $12,062,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Strs Ohio acquired a new position in Alight during the first quarter valued at approximately $25,000. EverSource Wealth Advisors LLC increased its position in shares of Alight by 152.1% during 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. Evergreen Capital Management LLC bought a new stake in shares of Alight during the 3rd quarter worth approximately $35,000. Vestmark Advisory Solutions Inc. acquired a new stake in shares of Alight in the 3rd quarter valued at approximately $37,000. Finally, D.A. Davidson & CO. bought a new position in shares of Alight in the third quarter valued at $42,000. Institutional investors own 96.74% of the company’s stock.

Alight Price Performance

Shares of ALIT opened at $0.94 on Friday. The company’s 50-day moving average is $1.44 and its 200-day moving average is $2.39. 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 capitalization of $498.54 million, a PE ratio of -0.16, a PEG ratio of 0.52 and a beta of 1.16. Alight, Inc. has a fifty-two week low of $0.65 and a fifty-two week high of $6.54.

Alight (NYSE:ALIT) last announced its quarterly earnings results on Thursday, February 19th. The company reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.07). The company 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%. Equities analysts forecast that Alight, Inc. will post 0.54 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have issued reports on ALIT. UBS Group dropped their price target on shares of Alight from $6.50 to $4.00 and set a “buy” rating on the stock in a research report on Thursday, November 6th. DA Davidson lowered their price objective on shares of Alight from $6.00 to $5.00 and set a “buy” rating on the stock in a research note on Tuesday, February 10th. Citigroup cut shares of Alight from a “buy” rating to a “neutral” rating and dropped their target price for the company from $6.50 to $1.00 in a report on Friday, February 20th. Bank of America began coverage on shares of Alight in a research note on Tuesday, February 17th. They issued an “underperform” rating and a $1.40 target price for the company. Finally, Needham & Company LLC downgraded Alight from a “buy” rating to a “hold” rating in a research report on Thursday, February 19th. 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 stock. According to MarketBeat.com, Alight currently has an average rating of “Hold” and an average price target of $3.56.

Insider Buying and Selling at Alight

In other news, CEO Rohit Verma bought 100,000 shares of the stock in a transaction dated Tuesday, February 24th. The shares were bought at an average price of $0.77 per share, for a total transaction of $77,000.00. Following the completion of the purchase, the chief executive officer owned 1,022,883 shares in the company, valued at approximately $787,619.91. This trade represents a 10.84% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.93% of the company’s stock.

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.