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

Alight, Inc. (NYSE:ALIT) was the recipient of some unusual options trading on Thursday. Stock investors purchased 2,418 call options on the stock. This is an increase of 67% compared to the average volume of 1,448 call options.

Alight Stock Down 9.0%

NYSE ALIT traded down $0.05 on Thursday, reaching $0.54. The company had a trading volume of 9,051,372 shares, compared to its average volume of 27,609,564. The company has a debt-to-equity ratio of 1.92, a current ratio of 1.42 and a quick ratio of 1.42. Alight has a 1 year low of $0.48 and a 1 year high of $6.11. The firm has a 50-day moving average of $0.74 and a 200-day moving average of $1.17. The firm has a market capitalization of $289.70 million, a PE ratio of -0.09, a P/E/G ratio of 0.19 and a beta of 1.60.

Alight (NYSE:ALIT) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.03. Alight had a positive return on equity of 13.04% and a negative net margin of 137.50%.The company had revenue of $534.00 million during the quarter, compared to analyst estimates of $502.74 million. On average, equities research analysts anticipate that Alight will post 0.28 EPS for the current fiscal year.

Analyst Ratings Changes

ALIT has been the topic of several recent research reports. KeyCorp downgraded Alight from an “overweight” rating to a “sector weight” rating in a research report on Thursday, February 19th. Citigroup cut shares of Alight from a “buy” rating to a “neutral” rating and cut their price objective for the company from $6.50 to $1.00 in a research report on Friday, February 20th. Needham & Company LLC downgraded Alight from a “buy” rating to a “hold” rating in a research report on Thursday, February 19th. Wall Street Zen raised shares of Alight from a “sell” rating to a “hold” rating in a report on Saturday, April 25th. Finally, Weiss Ratings cut shares of Alight from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, May 7th. Three investment analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $3.56.

Hedge Funds Weigh In On Alight

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. EverSource Wealth Advisors LLC increased its position in Alight by 152.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 5,201 shares of the company’s stock worth $29,000 after buying an additional 3,138 shares during the period. Strs Ohio acquired a new stake in shares of Alight during the 1st quarter valued at $25,000. Royal Bank of Canada grew its holdings in shares of Alight by 3.6% during the first quarter. Royal Bank of Canada now owns 159,901 shares of the company’s stock worth $948,000 after purchasing an additional 5,525 shares during the last quarter. HB Wealth Management LLC grew its holdings in Alight by 34.5% during the 4th quarter. HB Wealth Management LLC now owns 26,605 shares of the company’s stock worth $52,000 after acquiring an additional 6,817 shares during the last quarter. Finally, Alliancebernstein L.P. increased its holdings in Alight by 1.6% in the third quarter. Alliancebernstein L.P. now owns 438,918 shares of the company’s stock valued at $1,431,000 after purchasing an additional 7,088 shares during the period. Institutional investors own 96.74% of the company’s stock.

Alight Company Profile

Alight, Inc (NYSE: ALIT) is a leading provider of cloud-based human capital and financial solutions designed to help organizations and their employees navigate critical life and work events. The company offers a comprehensive suite of services, including payroll administration, benefits enrollment and management, workforce and analytics solutions, health and welfare support, and financial wellness programs. By integrating advanced technology with expert advisory services, Alight aims to simplify the administration of human resources and benefits functions, improve employee engagement and productivity, and drive cost efficiencies for its clients.

Alight’s core platform leverages cloud architecture and automation to deliver scalable and secure solutions that address the needs of mid-sized and large enterprises.