Hudson Bay Capital Management LP Has $10.63 Million Stock Position in Alight, Inc. (NYSE:ALIT)
Hudson Bay Capital Management LP lessened its position in Alight, Inc. (NYSE:ALIT – Free Report) by 47.5% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 1,150,000 shares of the company’s stock after selling 1,038,516 shares during the period. Hudson Bay Capital Management LP owned approximately 0.21% of Alight worth $10,626,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Nomura Asset Management Co. Ltd. acquired a new position in Alight during the 1st quarter valued at about $27,000. Advisor Group Holdings Inc. grew its stake in shares of Alight by 65.8% in the 1st quarter. Advisor Group Holdings Inc. now owns 4,725 shares of the company’s stock worth $47,000 after acquiring an additional 1,875 shares in the last quarter. Quantbot Technologies LP bought a new position in shares of Alight during the first quarter valued at about $49,000. State of Wyoming bought a new stake in Alight in the 2nd quarter worth about $59,000. Finally, Royal Bank of Canada increased its stake in Alight by 36.8% in the 3rd quarter. Royal Bank of Canada now owns 6,393 shares of the company’s stock valued at $47,000 after buying an additional 1,720 shares during the last quarter. Institutional investors own 79.56% of the company’s stock.
Alight Price Performance
ALIT traded down $0.03 during trading on Monday, reaching $7.93. 834,211 shares of the company were exchanged, compared to its average volume of 3,029,021. Alight, Inc. has a 12-month low of $6.33 and a 12-month high of $10.19. The company’s 50-day moving average is $7.15 and its two-hundred day moving average is $8.04. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.57. The company has a market cap of $4.38 billion, a price-to-earnings ratio of -15.31, a P/E/G ratio of 1.80 and a beta of 0.89.
Alight (NYSE:ALIT – Get Free Report) last announced its quarterly earnings results on Wednesday, November 1st. The company reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.02). Alight had a positive return on equity of 3.66% and a negative net margin of 7.31%. The firm had revenue of $813.00 million during the quarter, compared to analysts’ expectations of $828.47 million. Research analysts forecast that Alight, Inc. will post 0.42 earnings per share for the current fiscal year.
Analysts Set New Price Targets
ALIT has been the subject of several recent analyst reports. Canaccord Genuity Group assumed coverage on Alight in a report on Wednesday, December 6th. They issued a “buy” rating for the company. TheStreet lowered Alight from a “c-” rating to a “d+” rating in a research report on Thursday, October 12th. UBS Group initiated coverage on shares of Alight in a report on Tuesday, November 7th. They issued a “buy” rating and a $10.00 price target on the stock. Needham & Company LLC restated a “buy” rating and set a $13.00 price objective on shares of Alight in a report on Monday. Finally, Wedbush reduced their target price on shares of Alight from $13.00 to $11.00 and set an “outperform” rating for the company in a research report on Thursday, November 2nd. Nine research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $12.25.
Read Our Latest Stock Report on Alight
Insider Transactions at Alight
In other Alight news, Director Richard N. Massey bought 50,000 shares of the firm’s stock in a transaction on Thursday, October 5th. The shares were acquired at an average cost of $6.45 per share, for a total transaction of $322,500.00. Following the purchase, the director now directly owns 1,370,169 shares of the company’s stock, valued at $8,837,590.05. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 3.96% of the company’s stock.
Alight Company Profile (Free Report)
Alight, Inc provides cloud-based integrated digital human capital and business solutions worldwide. The company operates through Employer Solutions, Professional Services, and Hosted Business segments. The Employer Solutions segment offers employee wellbeing, integrated benefits administration, healthcare navigation, financial wellbeing, leave of absence management, retiree healthcare and payroll; and operates AI-led capabilities software.
Further Reading
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