5 New Stock Picks of Billionaire Dan Loeb

1. Alight, Inc. (NYSE:ALIT)

Third Point’s Stake Value: $195,160,000

Percentage of Third Point’s 13F Portfolio: 1.06%

Number of Hedge Fund Holders: 42

Alight, Inc. (NYSE:ALIT) is one of the newest additions in the third quarter portfolio of Dan Loeb’s Third Point, with the billionaire purchasing 17 million shares of the company, worth $195.1 million, representing 1.06% of the fund’s 13F securities. Alight, Inc. (NYSE:ALIT) is an Illinois-based provider of employer solutions, such as benefits and payroll solutions, as well as employee well-being programs that enrich company cultures. 

Credit Suisse analyst Kevin McVeigh initiated coverage of Alight, Inc. (NYSE:ALIT) on August 16 with an Outperform rating and a $15 price target. The analyst believes Alight, Inc. (NYSE:ALIT) offers a “unique opportunity at an attractive entry level for an accelerating organic growth story-fueled by higher-growth analytics-leveraging datasets”. 

According to the Q3 database of elite hedge funds maintained by Insider Monkey, 42 funds were bullish on Alight, Inc. (NYSE:ALIT), with collective stakes amounting to $1.27 billion. FPR Partners is the biggest Alight, Inc. (NYSE:ALIT) stakeholder as of the close of the third quarter of 2021, with 18.5 million shares worth $212.8 million. 

You can also take a look at Top 10 Stock Picks of NewGen Asset Management and 10 New Stock Picks of Brian Higgins’ King Street Capital.

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