FPR Partners LLC recently announced the acquisition of new stake in Alight Inc. (NYSE:ALIT). The institutional investor has increased its shareholding in the Technology company by 4.84% to 34.68 million shares with purchase of 1.6 million shares. This fresh investment now brings its stake to 6.92% valued currently at $295.86 million. In addition, The Vanguard Group, Inc. raised its holdings by 0.78 million to 33.97 million shares. And ArrowMark Colorado Holdings LLC has lifted its position by 14.19% or 3.94 million shares – to 31.71 million shares.
Currently, there are 478.34M common shares owned by the public and among those 370.39M shares have been available to trade.
3 Tiny Stocks Primed to Explode
The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.
We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.
Click here for full details and to join for free
Sponsored
Insiders at the company have transacted a total of 80 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 43 of these insider trades were purchases, accounting for 66,710,027 shares. Insider sales of the common stock occurred on 37 occasions, with total insider shares sold totaling 180,647,586 shares.
The top 3 mutual fund holders in Alight Inc. are Janus Henderson Triton Fund, iShares Russell 2000 ETF, and Vanguard Explorer Fund. Janus Henderson Triton Fund owns 12.54 million shares of the company’s stock, all valued at over $106.99 million. iShares Russell 2000 ETF sold 29862.0 shares to see its total holdings shrink to 11.28 million shares valued at over $96.22 million and representing 2.25% of the shares outstanding. Vanguard Explorer Fund bought 1.38 million shares to bring its total holdings to over 11.12 million shares at a value of $94.85 million. Vanguard Explorer Fund now owns shares totaling to 2.22% of the shares outstanding.
However, the script later moved the day high at 8.85, up 1.76%. The company’s stock has a 5-day price change of 3.46% and 26.98% over the past three months. ALIT shares are trading 1.52% year to date (YTD), with the 12-month market performance down to -2.26% lower. It has a 12-month low price of $6.33 and touched a high of $10.19 over the same period. ALIT has an average intraday trading volume of 4.35 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 2.77%, 8.74%, and 5.25% respectively.
Institutional ownership of Alight Inc. (NYSE: ALIT) shares accounts for 77.79% of the company’s 478.34M shares outstanding. Mutual fund holders own 31.13%, while other institutional holders and individual stakeholders account for 47.12% and 15.94% respectively.
It has a market capitalization of $4.34B and a beta (3y monthly) value of 0.92. The earnings-per-share (ttm) stands at -$0.51. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.10% over the week and 2.71% over the month.
Analysts forecast that Alight Inc. (ALIT) will achieve an EPS of $0.26 for the current quarter, $0.13 for the next quarter and $0.71 for 2024. The lowest estimate earnings-per-share for the quarter is $0.21 while analysts give the company a high EPS estimate of $0.28. Comparatively, EPS for the current quarter was $0.2 a year ago. Earnings per share for the fiscal year are expected to increase by 17.27%, and 8.65% over the next financial year.
Looking at the support for the ALIT, a number of firms have released research notes about the stock. Citigroup stated their Buy rating for the stock in a research note on January 05, 2024, with the firm’s price target at $12.
