Oribel Capital Management LP Purchases 95,900 Shares of Alight, Inc. (NYSE:ALIT)

Oribel Capital Management LP lifted its holdings in shares of Alight, Inc. (NYSE:ALIT – Get Rating) by 42.0% during the fourth quarter, Holdings Channel.com reports. The fund owned 324,500 shares of the company’s stock after acquiring an additional 95,900 shares during the period. Oribel Capital Management LP’s holdings in Alight were worth $3,508,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of ALIT. Royal Bank of Canada purchased a new stake in shares of Alight during the third quarter worth about $26,000. Advisor Group Holdings Inc. purchased a new stake in shares of Alight during the third quarter worth about $30,000. Horrell Capital Management Inc. purchased a new stake in shares of Alight during the fourth quarter worth about $128,000. Mercer Global Advisors Inc. ADV purchased a new stake in shares of Alight during the fourth quarter worth about $134,000. Finally, Raymond James Trust N.A. grew its stake in shares of Alight by 15.1% during the fourth quarter. Raymond James Trust N.A. now owns 12,946 shares of the company’s stock worth $140,000 after acquiring an additional 1,694 shares during the last quarter. Institutional investors and hedge funds own 66.88% of the company’s stock.

A number of equities research analysts recently commented on ALIT shares. Stephens started coverage on Alight in a research report on Tuesday, February 8th. They issued an “overweight” rating and a $15.00 target price on the stock. Zacks Investment Research lowered Alight from a “hold” rating to a “sell” rating in a research report on Thursday, May 12th.

NYSE:ALIT traded down $0.22 during trading hours on Friday, reaching $7.88. The company had a trading volume of 3,656,775 shares, compared to its average volume of 4,489,139. Alight, Inc. has a 1-year low of $6.89 and a 1-year high of $13.34. The firm has a market cap of $4.43 billion, a PE ratio of -0.23 and a beta of 0.32. The business’s 50 day moving average price is $8.96 and its 200-day moving average price is $9.80. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.16 and a quick ratio of 1.16.

Alight (NYSE:ALIT – Get Rating) last announced its quarterly earnings results on Monday, May 9th. The company reported $0.12 earnings per share (EPS) for the quarter. Alight had a positive return on equity of 6.33% and a negative net margin of 1.69%. The company had revenue of $725.00 million during the quarter. On average, analysts expect that Alight, Inc. will post 0.55 earnings per share for the current fiscal year.

In other news, Director Richard N. Massey acquired 10,000 shares of Alight stock in a transaction that occurred on Friday, April 1st. The stock was purchased at an average cost of $9.54 per share, with a total value of $95,400.00. Following the purchase, the director now owns 394,387 shares in the company, valued at $3,762,451.98. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Richard N. Massey bought 50,000 shares of the company’s stock in a transaction on Friday, March 11th. The stock was bought at an average price of $8.92 per share, with a total value of $446,000.00. The disclosure for this purchase can be found here. Insiders sold 752,305 shares of company stock valued at $7,618,465 over the last three months. 3.96% of the stock is currently owned by corporate insiders.

About Alight (Get Rating)

Alight, Inc operates as a cloud-based provider of integrated digital human capital and business solutions worldwide. It operates through three segments: Employer Solutions, Professional Services, and Hosted Business. The company's solutions enable employees to enrich their health, wealth, and wellbeing, which helps organizations achieve a high-performance culture.

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