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

Alight, Inc. (NYSE:ALIT) was the recipient of unusually large options trading activity on Thursday. Stock investors purchased 5,659 call options on the stock. This represents an increase of 61% compared to the typical volume of 3,524 call options.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on ALIT. UBS Group cut their price objective on shares of Alight from $6.50 to $4.00 and set a “buy” rating for the company in a report on Thursday, November 6th. DA Davidson dropped their price target on shares of Alight from $6.00 to $5.00 and set a “buy” rating for the company in a research report on Tuesday, February 10th. Wedbush lowered their price objective on Alight from $7.00 to $5.00 and set an “outperform” rating on the stock in a research note on Thursday, November 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Alight in a report on Wednesday, January 21st. Finally, Bank of America initiated coverage on Alight in a research report on Tuesday. They set an “underperform” rating and a $1.40 target price for the company. Five analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. According to MarketBeat, Alight has an average rating of “Hold” and an average target price of $3.98.

Alight Price Performance

Shares of ALIT traded down $0.41 during midday trading on Thursday, hitting $0.90. The company’s stock had a trading volume of 28,274,187 shares, compared to its average volume of 11,556,958. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.99. Alight has a one year low of $0.72 and a one year high of $7.66. The stock has a market capitalization of $479.88 million, a price-to-earnings ratio of -0.21 and a beta of 1.09. The company’s fifty day simple moving average is $1.70 and its two-hundred day simple moving average is $2.62.

Alight (NYSE:ALIT) last released its quarterly earnings data on Thursday, February 19th. The company reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.07). The business had revenue of $653.00 million during the quarter, compared to analyst estimates of $654.30 million. Alight had a negative net margin of 94.23% and a positive return on equity of 7.89%. As a group, equities analysts expect that Alight will post 0.54 earnings per share for the current fiscal year.

Insider Transactions at Alight

In other news, Director Robert A. Schriesheim purchased 42,098 shares of the company’s stock in a transaction that occurred on Wednesday, November 26th. The stock was acquired at an average cost of $2.38 per share, with a total value of $100,193.24. Following the acquisition, the director owned 109,130 shares in the company, valued at approximately $259,729.40. This trade represents a 62.80% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kausik Rajgopal purchased 40,000 shares of Alight stock in a transaction that occurred on Tuesday, November 25th. The stock was purchased at an average price of $2.24 per share, with a total value of $89,600.00. Following the completion of the purchase, the director directly owned 125,202 shares in the company, valued at $280,452.48. This trade represents a 46.95% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders bought a total of 193,116 shares of company stock worth $448,984 over the last quarter. Company insiders own 1.93% of the company’s stock.

Hedge Funds Weigh In On Alight

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC raised its stake in Alight by 1.3% during the second quarter. Geode Capital Management LLC now owns 10,413,720 shares of the company’s stock worth $58,950,000 after buying an additional 135,109 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH grew its holdings in Alight by 270.1% during the 2nd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 361,165 shares of the company’s stock worth $2,044,000 after acquiring an additional 263,592 shares during the period. Prudential Financial Inc. grew its holdings in Alight by 14.0% during the 2nd quarter. Prudential Financial Inc. now owns 1,183,796 shares of the company’s stock worth $6,700,000 after acquiring an additional 145,606 shares during the period. American Century Companies Inc. grew its stake in Alight by 9.2% during the second quarter. American Century Companies Inc. now owns 7,557,788 shares of the company’s stock worth $42,777,000 after purchasing an additional 637,142 shares during the period. Finally, Neuberger Berman Group LLC increased its holdings in Alight by 2.7% in the second quarter. Neuberger Berman Group LLC now owns 6,147,909 shares of the company’s stock worth $34,777,000 after purchasing an additional 162,752 shares in the last quarter. Institutional investors own 96.74% of the company’s stock.

About Alight

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.