Rovida Advisors Inc. Has $12.06 Million Stock Holdings in Alight, Inc. $ALIT

Rovida Advisors Inc. raised its holdings in shares of Alight, Inc. (NYSE:ALIT) by 18.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,700,000 shares of the company’s stock after purchasing an additional 589,157 shares during the period. Alight accounts for approximately 10.4% of Rovida Advisors Inc.’s holdings, making the stock its 4th biggest holding. Rovida Advisors Inc. owned about 0.69% of Alight worth $12,062,000 at the end of the most recent quarter.

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

Alight Price Performance

ALIT stock opened at $0.94 on Friday. The stock has a market cap of $498.54 million, a PE ratio of -0.16, a price-to-earnings-growth ratio of 0.52 and a beta of 1.16. The stock has a 50-day moving average price of $1.44 and a two-hundred day moving average price of $2.39. Alight, Inc. has a 1 year low of $0.65 and a 1 year high of $6.54. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 1.90.

Alight (NYSE:ALIT) last posted its quarterly earnings data on Thursday, February 19th. The company reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.07). Alight had a positive return on equity of 9.61% and a negative net margin of 136.91%.The firm had revenue of $653.00 million for the quarter, compared to analyst estimates of $654.30 million. Equities analysts forecast that Alight, Inc. will post 0.54 EPS for the current fiscal year.

Insider Buying and Selling at Alight

In other Alight news, CEO Rohit Verma purchased 100,000 shares of the firm’s stock in a transaction dated Tuesday, February 24th. The stock was bought at an average cost of $0.77 per share, with a total value of $77,000.00. Following the purchase, the chief executive officer directly owned 1,022,883 shares of the company’s stock, valued at $787,619.91. The trade was a 10.84% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 1.93% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

ALIT has been the subject of a number of recent analyst reports. Wall Street Zen cut Alight from a “hold” rating to a “sell” rating in a research note on Saturday, February 28th. DA Davidson decreased their price objective on shares of Alight from $6.00 to $5.00 and set a “buy” rating for the company in a report on Tuesday, February 10th. Needham & Company LLC lowered shares of Alight from a “buy” rating to a “hold” rating in a report on Thursday, February 19th. UBS Group reduced 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. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Alight in a report on Wednesday, January 21st. Three equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Alight presently has an average rating of “Hold” and an average target price of $3.56.

About Alight

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.