Alight Sees Unusually Large Options Volume (NYSE:ALIT)

Alight, Inc. (NYSE:ALIT) was the recipient of some unusual options trading on Tuesday. Stock traders acquired 5,000 put options on the company. This is an increase of approximately 224% compared to the average daily volume of 1,544 put options.

Insider Activity

In related news, President Gregory R. Goff sold 250,000 shares of Alight stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $8.00, for a total value of $2,000,000.00. Following the completion of the sale, the president now directly owns 852,694 shares in the company, valued at approximately $6,821,552. This trade represents a 22.67 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 5.33% of the company’s stock.

Institutional Investors Weigh In On Alight

Several hedge funds and other institutional investors have recently modified their holdings of ALIT. Blue Trust Inc. grew its position in shares of Alight by 107.6% in the 4th quarter. Blue Trust Inc. now owns 3,336 shares of the company’s stock worth $25,000 after acquiring an additional 1,729 shares in the last quarter. Public Employees Retirement System of Ohio lifted its stake in Alight by 65.5% during the third quarter. Public Employees Retirement System of Ohio now owns 5,042 shares of the company’s stock valued at $37,000 after buying an additional 1,996 shares in the last quarter. KBC Group NV grew its stake in Alight by 24.0% during the 3rd quarter. KBC Group NV now owns 12,049 shares of the company’s stock valued at $89,000 after acquiring an additional 2,331 shares in the last quarter. Cornerstone Investment Partners LLC increased its stake in Alight by 3.6% in the 4th quarter. Cornerstone Investment Partners LLC now owns 67,673 shares of the company’s stock valued at $468,000 after buying an additional 2,356 shares during the period. Finally, Xponance Inc. grew its position in Alight by 8.8% in the fourth quarter. Xponance Inc. now owns 30,229 shares of the company’s stock worth $209,000 after acquiring an additional 2,437 shares in the last quarter. Institutional investors own 96.74% of the company’s stock.

Alight Trading Up 1.2 %

Shares of Alight stock traded up $0.09 during trading hours on Tuesday, reaching $7.03. 2,609,909 shares of the company’s stock were exchanged, compared to its average volume of 5,893,734. The firm has a market capitalization of $3.81 billion, a price-to-earnings ratio of -23.42 and a beta of 0.94. The company has a fifty day moving average of $6.80 and a 200-day moving average of $7.15. Alight has a 52-week low of $6.15 and a 52-week high of $10.38. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.46.

Alight (NYSE:ALIT) last posted its quarterly earnings results on Thursday, February 20th. The company reported $0.21 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 analysts’ expectations of $675.66 million. Alight had a negative net margin of 5.53% and a positive return on equity of 5.42%. Sell-side analysts forecast that Alight will post 0.54 EPS for the current fiscal year.

Alight Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be issued a $0.04 dividend. The ex-dividend date is Monday, March 3rd. This represents a $0.16 annualized dividend and a yield of 2.28%. Alight’s dividend payout ratio is presently -53.33%.

Analyst Upgrades and Downgrades

ALIT has been the topic of several analyst reports. Canaccord Genuity Group boosted their target price on Alight from $11.00 to $12.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Needham & Company LLC reiterated a “buy” rating and set a $9.00 price objective on shares of Alight in a research note on Friday. Finally, KeyCorp raised their price target on shares of Alight from $10.00 to $11.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $10.61.

About Alight

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.