Alight Sees Unusually High Options Volume (NYSE:ALIT)

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

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. DA Davidson reduced their price target on shares of Alight from $6.00 to $5.00 and set a “buy” rating on the stock in a research report on Tuesday, February 10th. KeyCorp lowered their price target on Alight from $6.00 to $2.50 and set an “overweight” rating for the company in a report on Thursday, January 8th. Wedbush decreased their price objective on Alight from $7.00 to $5.00 and set an “outperform” rating for the company in a research report on Thursday, November 6th. UBS Group cut their price target on shares of Alight from $6.50 to $4.00 and set a “buy” rating on the stock in a research note on Thursday, November 6th. Finally, Bank of America assumed coverage on shares of Alight in a report on Tuesday. They set an “underperform” rating and a $1.40 price objective on the stock. Five research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $3.98.

Insider Activity

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

Institutional Trading of Alight

A number of hedge funds have recently made changes to their positions in ALIT. TradeLink Capital LLC bought a new stake in Alight in the 4th quarter valued at $25,000. Strs Ohio acquired a new position in shares of Alight in the first quarter valued at $25,000. Moss Adams Wealth Advisors LLC bought a new position in shares of Alight in the fourth quarter valued at about $26,000. Renaissance Technologies LLC acquired a new stake in shares of Alight during the 4th quarter worth about $26,000. Finally, Allworth Financial LP boosted its holdings in shares of Alight by 848.5% during the 4th quarter. Allworth Financial LP now owns 14,920 shares of the company’s stock worth $29,000 after buying an additional 13,347 shares during the period. 96.74% of the stock is owned by institutional investors and hedge funds.

Alight Stock Down 31.3%

Shares of NYSE ALIT traded down $0.41 during mid-day trading on Thursday, hitting $0.90. The company had a trading volume of 28,274,187 shares, compared to its average volume of 11,556,958. Alight has a one year low of $0.72 and a one year high of $7.66. The company has a market capitalization of $479.88 million, a PE ratio of -0.21 and a beta of 1.09. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.99. The firm has a 50-day simple moving average of $1.70 and a two-hundred day simple moving average of $2.62.

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

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.