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

Alight, Inc. (NYSE:ALIT) saw some unusual options trading activity on Wednesday. Stock traders bought 30,064 call options on the company. This represents an increase of approximately 1,625% compared to the typical volume of 1,743 call options.

Analyst Upgrades and Downgrades

Several research firms have issued reports on ALIT. KeyCorp raised their target price on Alight from $10.00 to $11.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Needham & Company LLC reissued a “buy” rating and set a $9.00 target price on shares of Alight in a research note on Friday, February 21st. Finally, Canaccord Genuity Group raised their target price on Alight from $11.00 to $12.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. 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 MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $10.61.

Alight Trading Up 0.2 %

Shares of NYSE ALIT opened at $6.05 on Thursday. Alight has a twelve month low of $5.97 and a twelve month 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. The stock has a fifty day simple moving average of $6.71 and a 200-day simple moving average of $7.11. The stock has a market capitalization of $3.28 billion, a PE ratio of -20.15 and a beta of 0.94.

Alight (NYSE:ALIT) last released its 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). Alight had a positive return on equity of 5.42% and a negative net margin of 5.53%. The company had revenue of $680.00 million for the quarter, compared to analyst estimates of $675.66 million. On average, equities analysts forecast that Alight will post 0.54 earnings per share for the current year.

Alight Announces Dividend

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

Insider Buying and Selling at Alight

In related news, Director Robert A. Schriesheim acquired 22,092 shares of Alight stock in a transaction that occurred on Monday, March 3rd. The shares were purchased at an average price of $6.79 per share, for a total transaction of $150,004.68. Following the completion of the transaction, the director now owns 22,092 shares in the company, valued at $150,004.68. This represents a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Richard N. Massey acquired 100,000 shares of Alight stock in a transaction that occurred on Monday, March 10th. The shares were bought at an average price of $6.39 per share, for a total transaction of $639,000.00. Following the transaction, the director now owns 1,573,489 shares of the company’s stock, valued at $10,054,594.71. This represents a 6.79 % increase in their position. The disclosure for this purchase can be found here. 5.33% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Starboard Value LP grew its stake in Alight by 8.8% during the 4th quarter. Starboard Value LP now owns 47,228,000 shares of the company’s stock worth $326,818,000 after purchasing an additional 3,833,000 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Alight by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 40,881,219 shares of the company’s stock valued at $282,898,000 after purchasing an additional 292,911 shares during the last quarter. ArrowMark Colorado Holdings LLC lifted its holdings in shares of Alight by 13.6% in the 4th quarter. ArrowMark Colorado Holdings LLC now owns 24,296,295 shares of the company’s stock valued at $168,130,000 after purchasing an additional 2,901,108 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Alight by 5.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 22,719,293 shares of the company’s stock valued at $157,215,000 after purchasing an additional 1,153,963 shares during the last quarter. Finally, Cooper Creek Partners Management LLC lifted its holdings in shares of Alight by 23.1% in the 4th quarter. Cooper Creek Partners Management LLC now owns 17,704,322 shares of the company’s stock valued at $122,514,000 after purchasing an additional 3,322,705 shares during the last quarter. 96.74% of the stock is owned by institutional investors and hedge funds.

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.