Levin Capital Strategies L.P. Buys 411,491 Shares of Alight, Inc. $ALIT

Levin Capital Strategies L.P. grew its position in shares of Alight, Inc. (NYSE:ALIT) by 109.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 787,125 shares of the company’s stock after purchasing an additional 411,491 shares during the quarter. Levin Capital Strategies L.P.’s holdings in Alight were worth $2,566,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Geode Capital Management LLC lifted its position in shares of Alight by 1.3% during the 2nd quarter. Geode Capital Management LLC now owns 10,413,720 shares of the company’s stock valued at $58,950,000 after acquiring an additional 135,109 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH raised its stake in shares of Alight by 270.1% in the second quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 361,165 shares of the company’s stock worth $2,044,000 after purchasing an additional 263,592 shares during the last quarter. Prudential Financial Inc. boosted its holdings in Alight by 14.0% during the 2nd quarter. Prudential Financial Inc. now owns 1,183,796 shares of the company’s stock worth $6,700,000 after acquiring an additional 145,606 shares during the last quarter. American Century Companies Inc. grew its position in Alight by 9.2% in the 2nd quarter. American Century Companies Inc. now owns 7,557,788 shares of the company’s stock worth $42,777,000 after purchasing an additional 637,142 shares in the last quarter. Finally, Neuberger Berman Group LLC grew its holdings in shares of Alight by 2.7% in the second quarter. Neuberger Berman Group LLC now owns 6,147,909 shares of the company’s stock valued at $34,777,000 after acquiring an additional 162,752 shares in the last quarter. Institutional investors own 96.74% of the company’s stock.

Analyst Ratings Changes

ALIT has been the topic of a number of research reports. UBS Group lowered their price target on shares of Alight from $6.50 to $4.00 and set a “buy” rating on the stock in a report on Thursday, November 6th. DA Davidson lowered their price target on Alight from $6.00 to $5.00 and set a “buy” rating on the stock in a research report on Tuesday, February 10th. Bank of America started coverage on Alight in a research note on Tuesday. They set an “underperform” rating and a $1.40 price objective on the stock. KeyCorp dropped their price target on shares of Alight from $6.00 to $2.50 and set an “overweight” rating for the company in a research report on Thursday, January 8th. Finally, Wedbush dropped their price target on Alight from $7.00 to $5.00 and set an “outperform” rating for the company in a research note on Thursday, November 6th. Five analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $3.98.

Insider Transactions at Alight

In related news, Director Robert A. Schriesheim purchased 42,098 shares of the company’s stock in a transaction that occurred on Wednesday, November 26th. The stock was bought at an average price of $2.38 per share, for a total transaction of $100,193.24. Following the completion of the transaction, the director owned 109,130 shares in the company, valued at approximately $259,729.40. The trade was a 62.80% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Richard N. Massey bought 100,000 shares of the firm’s stock in a transaction dated Wednesday, November 26th. The shares were acquired at an average price of $2.33 per share, with a total value of $233,000.00. Following the completion of the transaction, the director owned 100,000 shares of the company’s stock, valued at approximately $233,000. The trade was a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders have bought 193,116 shares of company stock valued at $448,984. 1.93% of the stock is currently owned by insiders.

Alight Stock Up 2.7%

Alight stock opened at $1.33 on Thursday. The stock has a fifty day moving average of $1.70 and a 200 day moving average of $2.62. Alight, Inc. has a one year low of $1.26 and a one year high of $7.66. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.21 and a current ratio of 1.21. The stock has a market cap of $706.49 million, a PE ratio of -0.32 and a beta of 1.09.

Alight 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.