Traders Purchase High Volume of Call Options on Alight (NYSE:ALIT)

Alight, Inc. (NYSE:ALIT) saw some unusual options trading on Wednesday. Investors acquired 30,064 call options on the company. This is an increase of 1,625% compared to the typical daily volume of 1,743 call options.

Insider Activity at Alight

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

Hedge Funds Weigh In On Alight

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

Alight Stock Up 0.2 %

Alight stock traded up $0.02 during mid-day trading on Wednesday, reaching $6.05. The stock had a trading volume of 9,072,452 shares, compared to its average volume of 6,625,850. Alight has a one year low of $5.97 and a one year high of $10.38. The company has a 50-day moving average price of $6.72 and a two-hundred day moving average price of $7.11. The company has a market capitalization of $3.28 billion, a price-to-earnings ratio of -20.15 and a beta of 0.94. 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 posted its quarterly earnings results on Thursday, February 20th. The company reported $0.21 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 analysts’ expectations of $675.66 million. Alight had a negative net margin of 5.53% and a positive return on equity of 5.42%. On average, analysts expect that Alight will post 0.54 EPS for the current fiscal year.

Alight Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be given 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 dividend yield of 2.65%. Alight’s dividend payout ratio (DPR) is presently -53.33%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on ALIT. Canaccord Genuity Group upped their price objective 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. Needham & Company LLC reaffirmed a “buy” rating and set a $9.00 price target on shares of Alight in a research report on Friday, February 21st. Finally, KeyCorp lifted their price objective on Alight from $10.00 to $11.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $10.61.

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.