Alight Target of Unusually High Options Trading (NYSE:ALIT)

Alight, Inc. (NYSE:ALIT) was the recipient of unusually large options trading activity on Thursday. Investors acquired 35,880 call options on the stock. This is an increase of 2,013% compared to the average volume of 1,698 call options.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Wedbush cut their price target on Alight from $11.00 to $9.00 and set an “outperform” rating on the stock in a report on Friday, May 9th. DA Davidson restated a “buy” rating and set a $10.00 price target on shares of Alight in a report on Wednesday, March 26th. Finally, Needham & Company LLC restated a “buy” rating and issued a $8.00 price objective on shares of Alight in a report on Friday, June 20th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $9.86.

Insiders Place Their Bets

In related news, Director David D. Guilmette purchased 50,000 shares of the business’s stock in a transaction on Tuesday, May 20th. The shares were bought at an average price of $5.69 per share, for a total transaction of $284,500.00. Following the acquisition, the director directly owned 600,750 shares in the company, valued at $3,418,267.50. This trade represents a 9.08% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.93% of the stock is currently owned by insiders.

Institutional Trading of Alight

Several hedge funds have recently made changes to their positions in the company. Public Employees Retirement System of Ohio lifted its stake in shares of Alight by 40.8% in the 4th quarter. Public Employees Retirement System of Ohio now owns 7,101 shares of the company’s stock worth $49,000 after acquiring an additional 2,059 shares during the period. Amalgamated Bank lifted its stake in shares of Alight by 17.2% in the 1st quarter. Amalgamated Bank now owns 14,534 shares of the company’s stock worth $86,000 after acquiring an additional 2,133 shares during the period. Caitong International Asset Management Co. Ltd lifted its stake in shares of Alight by 82.8% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 5,184 shares of the company’s stock worth $31,000 after acquiring an additional 2,348 shares during the period. Xponance Inc. lifted its stake in shares of Alight by 8.8% in the 4th quarter. Xponance Inc. now owns 30,229 shares of the company’s stock worth $209,000 after acquiring an additional 2,437 shares during the period. Finally, Winslow Asset Management Inc. lifted its stake in shares of Alight by 18.6% in the 1st quarter. Winslow Asset Management Inc. now owns 15,905 shares of the company’s stock worth $94,000 after acquiring an additional 2,500 shares during the period. Institutional investors and hedge funds own 96.74% of the company’s stock.

Alight Trading Up 0.9%

Shares of Alight stock opened at $5.98 on Friday. Alight has a 1 year low of $4.49 and a 1 year high of $8.93. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.18 and a current ratio of 1.18. The company has a market capitalization of $3.22 billion, a P/E ratio of -42.68 and a beta of 1.00. The company’s fifty day moving average is $5.47 and its two-hundred day moving average is $6.02.

Alight (NYSE:ALIT) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.02). Alight had a positive return on equity of 5.74% and a negative net margin of 2.65%. The business had revenue of $548.00 million for the quarter, compared to analysts’ expectations of $542.66 million. During the same period in the previous year, the business posted $0.13 earnings per share. The company’s revenue for the quarter was down 2.0% on a year-over-year basis. Analysts forecast that Alight will post 0.54 earnings per share for the current year.

Alight Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 2.68%. The ex-dividend date of this dividend was Monday, June 2nd. Alight’s payout ratio is currently -114.29%.

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.