Shake-Up Alert: 40 Companies Facing Activist Pressure

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12. Starboard Value LP at the Alight, Inc. (NYSE:ALIT)

Stock Return: -17.6%

S&P 500 Return: 6.1%

Investment date: 21/02/2024

Number of hedge funds holding stakes: 44

Alight, Inc. (NYSE:ALIT) offers global, cloud-based, comprehensive digital solutions for human resources and business needs. Within the employer solutions division, it provides services like employee wellness, combined benefits management, assistance with healthcare, and additional services. The professional services division delivers advisory services, including cloud advisory services for setting up and enhancing cloud platforms.

After building a 7.8% stake in the benefits service provider early in the year, Starboard Value nominated four people to Alight, Inc. (NYSE:ALIT) ‘s board of directors. With influence on the board, the activist hedge fund has what it takes to influence the company’s strategic direction to unlock value.

Alight, Inc. (NYSE:ALIT) is down by about 9.4% year to date. According to the Insider Monkey database, the number of hedge funds owning stakes increased to 44 in Q1 2024 from 39 in Q4 2023.

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