Levin Capital Strategies L.P. Grows Stock Holdings in Alight, Inc. $ALIT

Levin Capital Strategies L.P. raised its stake in shares of Alight, Inc. (NYSE:ALIT) by 109.5% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 787,125 shares of the company’s stock after purchasing an additional 411,491 shares during the period. Levin Capital Strategies L.P. owned 0.15% of Alight worth $2,566,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of ALIT. Strs Ohio purchased a new stake in shares of Alight during the 1st quarter valued at about $25,000. EverSource Wealth Advisors LLC grew its holdings in 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 acquiring an additional 3,138 shares in the last quarter. Evergreen Capital Management LLC bought a new stake in Alight in the third quarter valued at about $35,000. D.A. Davidson & CO. bought a new stake in shares of Alight in the 3rd quarter valued at approximately $42,000. Finally, Nomura Asset Management Co. Ltd. raised its holdings in shares of Alight by 68.8% during the second quarter. Nomura Asset Management Co. Ltd. now owns 8,100 shares of the company’s stock worth $46,000 after purchasing an additional 3,300 shares during the period. Hedge funds and other institutional investors own 96.74% of the company’s stock.

Alight Stock Up 2.7%

Shares of NYSE:ALIT opened at $1.33 on Thursday. The company’s 50-day moving average price is $1.70 and its two-hundred day moving average price is $2.62. The firm has a market cap of $706.49 million, a P/E ratio of -0.32 and a beta of 1.09. Alight, Inc. has a 12 month low of $1.26 and a 12 month high of $7.66. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.99.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on ALIT shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Alight in a research note on Wednesday, January 21st. Wedbush dropped their target price on shares of Alight from $7.00 to $5.00 and set an “outperform” rating on the stock in a report on Thursday, November 6th. Bank of America initiated coverage on shares of Alight in a research note on Tuesday. They set an “underperform” rating and a $1.40 price objective for the company. DA Davidson reduced their price objective on Alight from $6.00 to $5.00 and set a “buy” rating for the company in a research note on Tuesday, February 10th. Finally, UBS Group lowered their target price on Alight from $6.50 to $4.00 and set a “buy” rating on the stock in a research note on Thursday, November 6th. Five equities research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $3.98.

Insider Activity

In other news, Director Kausik Rajgopal acquired 40,000 shares of Alight stock in a transaction dated Tuesday, November 25th. The stock was bought at an average cost of $2.24 per share, with a total value of $89,600.00. Following the completion of the transaction, the director directly owned 125,202 shares of the company’s stock, valued at approximately $280,452.48. This represents a 46.95% 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. Also, Director Richard N. Massey bought 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 26th. The stock was acquired at an average cost of $2.33 per share, with a total value of $233,000.00. Following the transaction, the director owned 100,000 shares of the company’s stock, valued at $233,000. This represents a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders purchased a total of 193,116 shares of company stock valued at $448,984 in the last ninety days. 1.93% of the stock is owned by insiders.

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.