Alight Sees Unusually Large Options Volume (NYSE:ALIT)

Alight, Inc. (NYSE:ALIT) saw unusually large options trading on Tuesday. Stock traders purchased 5,000 put options on the stock. This represents an increase of approximately 224% compared to the average daily volume of 1,544 put options.

Alight Stock Performance

ALIT stock traded up $0.09 during midday trading on Tuesday, reaching $7.03. 2,609,909 shares of the company were exchanged, compared to its average volume of 5,893,734. Alight has a one year low of $6.15 and a one year high of $10.38. 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 business has a 50-day moving average price of $6.80 and a two-hundred day moving average price of $7.15. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.30 and a quick ratio of 1.30.

Alight (NYSE:ALIT) last issued its quarterly earnings data on Thursday, February 20th. The company reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.04). The firm had revenue of $680.00 million for the quarter, compared to the consensus estimate of $675.66 million. Alight had a positive return on equity of 5.42% and a negative net margin of 5.53%. Equities research analysts forecast that Alight will post 0.54 EPS for the current year.

Alight Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.28%. Alight’s dividend payout ratio (DPR) is currently -53.33%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on ALIT shares. Canaccord Genuity Group upped their target price on shares of Alight from $11.00 to $12.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. KeyCorp lifted their price target on shares of Alight from $10.00 to $11.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Finally, Needham & Company LLC restated a “buy” rating and issued a $9.00 price target on shares of Alight in a report on Friday. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $10.61.

Insider Transactions at Alight

In other news, President Gregory R. Goff sold 250,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $8.00, for a total transaction of $2,000,000.00. Following the sale, the president now directly owns 852,694 shares in the company, valued at approximately $6,821,552. The trade was a 22.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 5.33% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Alight

Several hedge funds and other institutional investors have recently made changes to their positions in ALIT. Public Employees Retirement System of Ohio boosted its holdings in shares of Alight by 40.8% during the 4th quarter. Public Employees Retirement System of Ohio now owns 7,101 shares of the company’s stock valued at $49,000 after acquiring an additional 2,059 shares in the last quarter. Alpine Global Management LLC raised its holdings in Alight by 16.7% during the 4th quarter. Alpine Global Management LLC now owns 175,000 shares of the company’s stock worth $1,211,000 after purchasing an additional 25,000 shares during the last quarter. CSS LLC IL boosted its stake in shares of Alight by 7.9% in the 4th quarter. CSS LLC IL now owns 230,874 shares of the company’s stock valued at $1,598,000 after purchasing an additional 16,887 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Alight by 25.2% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 960,332 shares of the company’s stock worth $6,645,000 after buying an additional 193,117 shares during the last quarter. Finally, Starboard Value LP grew its holdings in Alight by 8.8% in the fourth 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 during the period. 96.74% of the stock is owned by institutional investors.

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.