Billionaire David Tepper is Dumping These 5 Stocks

Page 1 of 5

In this article, we discuss the 5 stocks that billionaire David Tepper is dumping. If you want to see more stocks that the billionaire discarded, check out Billionaire David Tepper is Dumping These 10 Stocks

5. Alight, Inc. (NYSE:ALIT)

Number of Hedge Fund Holders: 38

Alight, Inc. (NYSE:ALIT) was founded in 2017 and is headquartered in Lincolnshire, Illinois. The company operates as a cloud-based provider of integrated digital human capital and business solutions worldwide. David Tepper added Alight, Inc. (NYSE:ALIT) to his portfolio in Q3 2021, and dumped his $46.4 million stake in Q1 2022 completely. 

JPMorgan analyst Tien-tsin Huang on August 2 initiated coverage of Alight, Inc. (NYSE:ALIT) with an Overweight rating and a $10 price target. The “time is right” for Alight, Inc. (NYSE:ALIT) to monetize its position as the scale platform leader in offering modern benefits programs to businesses, the analyst told investors. Alight, Inc. (NYSE:ALIT) is an essential service provider, and it has “high visibility” to boost revenue at 8% annually to 2025 with double-digit EBITDA growth, added the analyst.

Among the hedge funds tracked by Insider Monkey, 38 funds were bullish on Alight, Inc. (NYSE:ALIT) at the end of Q1 2022, compared to 39 funds in the previous quarter. Bob Peck and Andy Raab’s FPR Partners is the biggest stakeholder of the company, with 25.2 million shares worth $251.3 million. 

Page 1 of 5