Maverick Capital Ltd. Raises Stake in Alight, Inc. $ALIT

Key Points

• Maverick Capital Ltd. increased its stake in Alight, Inc. by 162.9% in the first quarter, amassing $653,000 worth of stock after purchasing an additional 68,256 shares.
• Other institutional investors also displayed significant activity, with CWM LLC increasing its holdings by 364.8% and GAMMA Investing LLC expanding by 5,505.8% during the same period.
• Alight has reported consistent earnings, meeting quarterly estimates of $0.10 EPS, and expects FY 2025 guidance of 0.580-0.640 EPS.

Maverick Capital Ltd. boosted its position in shares of Alight, Inc. (NYSE:ALIT - Free Report) by 162.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 110,164 shares of the company's stock after acquiring an additional 68,256 shares during the period. Maverick Capital Ltd.'s holdings in Alight were worth $653,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ALIT. CWM LLC raised its stake in Alight by 364.8% during the 1st quarter. CWM LLC now owns 5,104 shares of the company's stock worth $30,000 after acquiring an additional 4,006 shares during the period. Caitong International Asset Management Co. Ltd raised its position in shares of Alight by 82.8% during the first quarter. Caitong International Asset Management Co. Ltd now owns 5,184 shares of the company's stock valued at $31,000 after buying an additional 2,348 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Alight by 5,505.8% during the first quarter. GAMMA Investing LLC now owns 7,792 shares of the company's stock valued at $46,000 after buying an additional 7,653 shares during the last quarter. Public Employees Retirement System of Ohio raised its position in shares of Alight by 40.8% during the fourth quarter. Public Employees Retirement System of Ohio now owns 7,101 shares of the company's stock valued at $49,000 after buying an additional 2,059 shares during the last quarter. Finally, FNY Investment Advisers LLC bought a new stake in shares of Alight during the first quarter valued at approximately $52,000. Institutional investors own 96.74% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. UBS Group reduced their price objective on shares of Alight from $10.00 to $6.50 and set a "buy" rating on the stock in a research report on Wednesday, August 6th. Wedbush reduced their price objective on shares of Alight from $9.00 to $7.00 and set an "outperform" rating on the stock in a research report on Wednesday, August 6th. Finally, Needham & Company LLC cut their target price on shares of Alight from $8.00 to $6.00 and set a "buy" rating for the company in a report on Wednesday, August 6th. Six research analysts have rated the stock with a Buy rating, According to MarketBeat, Alight presently has an average rating of "Buy" and an average target price of $8.75.

Alight Trading Down 1.4%

NYSE ALIT traded down $0.06 on Friday, hitting $3.77. 6,305,572 shares of the stock were exchanged, compared to its average volume of 8,605,686. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.16 and a current ratio of 1.16. The stock has a fifty day moving average price of $4.80 and a two-hundred day moving average price of $5.36. The firm has a market capitalization of $2.03 billion, a P/E ratio of -1.70 and a beta of 1.01. Alight, Inc. has a 52-week low of $3.62 and a 52-week high of $8.93.

Alight (NYSE:ALIT - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $0.10 EPS for the quarter, hitting the consensus estimate of $0.10. The company had revenue of $528.00 million during the quarter, compared to analyst estimates of $525.26 million. Alight had a negative net margin of 50.37% and a positive return on equity of 6.26%. Alight's quarterly revenue was down 1.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.05 earnings per share. Alight has set its FY 2025 guidance at 0.580-0.640 EPS. Research analysts forecast that Alight, Inc. will post 0.54 EPS for the current fiscal year.

Alight Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd will be paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 4.2%. The ex-dividend date of this dividend is Tuesday, September 2nd. Alight's payout ratio is presently -7.24%.

Alight Profile

Alight, Inc provides cloud-based integrated digital human capital and business solutions worldwide. The company operates through two segments, Employer Solutions and Professional Services. The Employer Solutions segment offers employee wellbeing, integrated benefits administration, healthcare navigation, financial wellbeing, leave of absence management, retiree healthcare and payroll; and operates AI-led capabilities software.