Meridian Growth Fund Reduces Position in Alight Inc. (ALIT) Amid Disappointing Sales and Lowered Revenue Guidance

Meridian Growth Fund, managed by ArrowMark Partners, reduced its position in Alight (ALIT) in Q3 due to disappointing sales and lowered revenue guidance. Alight, Inc. (NYSE:ALIT) is a leading cloud-based human capital technology provider that underperformed during the quarter. The stock's underperformance was attributed to customer retention decline, soft new sales, and a weaker macro environment. Despite this, the fund recognized Alight's compelling valuation and reduced its position.