Traders Buy Large Volume of Call Options on Alight (NYSE:ALIT)

Alight, Inc. (NYSE:ALIT) was the target of some unusual options trading on Wednesday. Traders acquired 30,064 call options on the stock. This is an increase of 1,625% compared to the average daily volume of 1,743 call options.

Insider Activity

In related news, Director Robert A. Schriesheim bought 22,092 shares of the firm’s stock in a transaction on Monday, March 3rd. The shares were bought at an average cost of $6.79 per share, for a total transaction of $150,004.68. Following the transaction, the director now owns 22,092 shares of the company’s stock, valued at approximately $150,004.68. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Richard N. Massey purchased 100,000 shares of the stock in a transaction dated Monday, March 10th. The shares were bought at an average cost of $6.39 per share, for a total transaction of $639,000.00. Following the completion of the purchase, the director now owns 1,573,489 shares in the company, valued at approximately $10,054,594.71. This trade represents a 6.79 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 5.33% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of ALIT. Blue Trust Inc. increased its holdings in Alight by 107.6% during the 4th quarter. Blue Trust Inc. now owns 3,336 shares of the company’s stock worth $25,000 after purchasing an additional 1,729 shares during the last quarter. Public Employees Retirement System of Ohio increased its stake in shares of Alight by 65.5% in the third quarter. Public Employees Retirement System of Ohio now owns 5,042 shares of the company’s stock worth $37,000 after buying an additional 1,996 shares during the last quarter. Venturi Wealth Management LLC acquired a new stake in Alight in the fourth quarter valued at $50,000. Oppenheimer & Co. Inc. acquired a new stake in Alight in the third quarter valued at $74,000. Finally, Sandia Investment Management LP bought a new position in Alight during the 4th quarter valued at $69,000. Hedge funds and other institutional investors own 96.74% of the company’s stock.

Alight Stock Up 0.2 %

Shares of ALIT opened at $6.05 on Thursday. Alight has a fifty-two week low of $5.97 and a fifty-two week high of $10.38. The company’s fifty day moving average is $6.71 and its two-hundred day moving average is $7.11. The firm has a market cap of $3.28 billion, a PE ratio of -20.15 and a beta of 0.94. 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 (NYSE:ALIT) last released its quarterly earnings data on Thursday, February 20th. The company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.04). The business had revenue of $680.00 million during the quarter, compared to analyst estimates of $675.66 million. Alight had a positive return on equity of 5.42% and a negative net margin of 5.53%. Analysts forecast that Alight will post 0.54 earnings per share for the current year.

Alight Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 2.65%. The ex-dividend date is Monday, March 3rd. Alight’s payout ratio is -53.33%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Canaccord Genuity Group increased their target price on shares of Alight from $11.00 to $12.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. KeyCorp raised their price objective on shares of Alight from $10.00 to $11.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $9.00 target price on shares of Alight in a research note on Friday, February 21st. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $10.61.

Alight Company 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.