Fintel reports that Abu Dhabi Investment Authority has filed a 13D/A form with the SEC disclosing ownership of 19.22MM shares of Alight Inc. (ALIT). This represents 3.9% of the company.

In their previous filing dated July 12, 2021 they reported 33.70MM shares and 7.50% of the company, a decrease in shares of 42.97% and a decrease in total ownership of 3.60% (calculated as current – previous percent ownership).

Analyst Price Forecast Suggests 41.23% Upside

As of March 7, 2023, the average one-year price target for Alight is $13.85. The forecasts range from a low of $11.11 to a high of $15.75. The average price target represents an increase of 41.23% from its latest reported closing price of $9.81.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Alight is $3,442MM, an increase of 9.90%. The projected annual non-GAAP EPS is $0.70.

What is the Fund Sentiment?

There are 352 funds or institutions reporting positions in Alight. This is an increase of 30 owner(s) or 9.32% in the last quarter. Average portfolio weight of all funds dedicated to ALIT is 0.38%, a decrease of 21.90%. Total shares owned by institutions decreased in the last three months by 1.40% to 447,675K shares. The put/call ratio of ALIT is 0.15, indicating a bullish outlook.

What are Large Shareholders Doing?

Cannae Holdings holds 52,477K shares representing 10.97% ownership of the company. No change in the last quarter.

Blackstone Group holds 45,573K shares representing 9.53% ownership of the company. In it’s prior filing, the firm reported owning 54,834K shares, representing a decrease of 20.32%. The firm decreased its portfolio allocation in ALIT by 19.33% over the last quarter.

Fpr Partners holds 32,244K shares representing 6.74% ownership of the company. In it’s prior filing, the firm reported owning 31,044K shares, representing an increase of 3.72%. The firm increased its portfolio allocation in ALIT by 23.66% over the last quarter.

ArrowMark Colorado Holdings holds 26,255K shares representing 5.49% ownership of the company. In it’s prior filing, the firm reported owning 20,238K shares, representing an increase of 22.92%. The firm increased its portfolio allocation in ALIT by 44.00% over the last quarter.

New Mountain Capital, L.L.C. holds 25,205K shares representing 5.27% ownership of the company. In it’s prior filing, the firm reported owning 30,327K shares, representing a decrease of 20.32%. The firm increased its portfolio allocation in ALIT by 5.81% over the last quarter.

Alight Background Information
(This description is provided by the company.)

With an unwavering belief that a company’s success starts with its people, Alight is a leading cloud-based provider of integrated digital human capital and business solutions. Leveraging proprietary AI and data analytics, Alight optimizes business process as a service (BPaaS) to deliver superior outcomes for employees and employers across a comprehensive portfolio of services. Alight allows employees to enrich their health, wealth and work while enabling global organizations to achieve a high-performance culture. Alight’s 15,000 dedicated colleagues serve more than 30 million employees and family members. Learn how Alight helps organizations of all sizes, including over 70% of the Fortune 100 at alight.com.

This article originally appeared on Fintel