Maverick Capital Ltd. Makes New $1.83 Million Investment in Alight, Inc. (NYSE:ALIT)

Maverick Capital Ltd. purchased a new stake in shares of Alight, Inc. (NYSE:ALIT - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 247,825 shares of the company's stock, valued at approximately $1,834,000.

Other large investors have also added to or reduced their stakes in the company. Rubric Capital Management LP purchased a new position in shares of Alight in the second quarter valued at $62,162,000. Dimensional Fund Advisors LP grew its stake in shares of Alight by 18.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 21,066,092 shares of the company's stock worth $155,463,000 after buying an additional 3,342,413 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Alight by 100.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,575,167 shares of the company's stock worth $26,385,000 after buying an additional 1,795,830 shares during the last quarter. Victory Capital Management Inc. raised its position in shares of Alight by 28.3% during the 2nd quarter. Victory Capital Management Inc. now owns 6,160,609 shares of the company's stock valued at $45,465,000 after buying an additional 1,358,020 shares in the last quarter. Finally, Engine Capital Management LP bought a new position in shares of Alight in the 2nd quarter valued at about $9,594,000. Institutional investors own 96.74% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on ALIT shares. KeyCorp boosted their price objective on Alight from $10.00 to $11.00 and gave the stock an "overweight" rating in a research note on Wednesday, November 13th. Wedbush cut their target price on Alight from $12.00 to $10.00 and set an "outperform" rating on the stock in a research report on Thursday, August 8th. Needham & Company LLC raised their price target on Alight from $9.00 to $11.00 and gave the stock a "buy" rating in a research report on Wednesday, November 13th. JPMorgan Chase & Co. lowered shares of Alight from an "overweight" rating to a "neutral" rating and set a $8.00 price objective for the company. in a research note on Tuesday, August 20th. Finally, Citigroup reduced their target price on shares of Alight from $12.00 to $11.00 and set a "buy" rating on the stock in a research note on Thursday, August 29th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, Alight presently has an average rating of "Moderate Buy" and an average target price of $10.95.

Alight Trading Up 0.1 %

ALIT traded up $0.01 on Friday, reaching $8.00. 1,701,393 shares of the company traded hands, compared to its average volume of 6,709,467. The company has a market cap of $4.34 billion, a P/E ratio of -16.67 and a beta of 0.87. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.46. Alight, Inc. has a one year low of $6.15 and a one year high of $10.38. The firm has a fifty day simple moving average of $7.41 and a two-hundred day simple moving average of $7.37.

Alight (NYSE:ALIT - Get Free Report) last announced its quarterly earnings data on Tuesday, November 12th. The company reported $0.09 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.09. The company had revenue of $555.00 million for the quarter, compared to analysts' expectations of $538.39 million. Alight had a positive return on equity of 5.61% and a negative net margin of 7.95%. Alight's revenue was down .4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.07 earnings per share. As a group, equities research analysts expect that Alight, Inc. will post 0.47 earnings per share for the current year.

Alight Announces Dividend

The firm also recently disclosed a -- dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a dividend of $0.04 per share. The ex-dividend date of this dividend is Monday, December 2nd.

Insider Activity at Alight

In other Alight news, Director William P. Foley II sold 5,000,000 shares of the business's stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $8.25, for a total value of $41,250,000.00. Following the completion of the transaction, the director now directly owns 883,323 shares in the company, valued at approximately $7,287,414.75. The trade was a 84.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Gregory A. George sold 84,929 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $7.60, for a total transaction of $645,460.40. Following the sale, the insider now directly owns 223,327 shares of the company's stock, valued at approximately $1,697,285.20. The trade was a 27.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.33% of the stock is currently owned by corporate insiders.

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.