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

Alight, Inc. (NYSE:ALIT - Get Free Report) was the target of some unusual options trading on Thursday. Stock investors purchased 35,880 call options on the company. This represents an increase of 2,013% compared to the average volume of 1,698 call options.

Insider Transactions at Alight

In other news, Director David D. Guilmette purchased 50,000 shares of the business's stock in a transaction that occurred on Tuesday, May 20th. The shares were bought at an average cost of $5.69 per share, for a total transaction of $284,500.00. Following the acquisition, the director owned 600,750 shares of the company's stock, valued at approximately $3,418,267.50. This trade represents a 9.08% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.93% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Alight

Several institutional investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp raised its stake in shares of Alight by 94.6% during the 4th quarter. Bank of New York Mellon Corp now owns 4,155,792 shares of the company's stock worth $28,758,000 after buying an additional 2,020,648 shares during the last quarter. US Bancorp DE raised its position in Alight by 17.5% in the fourth quarter. US Bancorp DE now owns 23,980 shares of the company's stock valued at $166,000 after purchasing an additional 3,576 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Alight by 10.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,429,362 shares of the company's stock valued at $37,571,000 after purchasing an additional 530,769 shares during the last quarter. Victory Capital Management Inc. raised its position in shares of Alight by 11.9% during the 4th quarter. Victory Capital Management Inc. now owns 6,709,570 shares of the company's stock valued at $46,430,000 after acquiring an additional 712,912 shares in the last quarter. Finally, Atria Investments Inc grew its stake in Alight by 15.1% during the 4th quarter. Atria Investments Inc now owns 38,137 shares of the company's stock worth $264,000 after buying an additional 4,993 shares during the last quarter. 96.74% of the stock is currently owned by hedge funds and other institutional investors.

Alight Stock Up 0.4%

Shares of NYSE:ALIT traded up $0.03 during trading hours on Thursday, reaching $5.95. The stock had a trading volume of 3,673,214 shares, compared to its average volume of 6,565,842. The stock has a market capitalization of $3.20 billion, a price-to-earnings ratio of -42.46 and a beta of 1.00. The firm's 50 day moving average is $5.46 and its 200-day moving average is $6.03. Alight has a 1 year low of $4.49 and a 1 year high of $8.93. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.18 and a current ratio of 1.18.

Alight (NYSE:ALIT - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.12 by ($0.02). The company had revenue of $548.00 million for the quarter, compared to analysts' expectations of $542.66 million. Alight had a positive return on equity of 5.74% and a negative net margin of 2.65%. The business's quarterly revenue was down 2.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.13 EPS. Research analysts predict that Alight will post 0.54 earnings per share for the current fiscal year.

Alight Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were issued a $0.04 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $0.16 annualized dividend and a dividend yield of 2.69%. Alight's dividend payout ratio is currently -114.29%.

Wall Street Analysts Forecast Growth

ALIT has been the topic of several recent analyst reports. Wedbush reduced their target price on Alight from $11.00 to $9.00 and set an "outperform" rating on the stock in a research report on Friday, May 9th. Needham & Company LLC reiterated a "buy" rating and issued a $8.00 target price on shares of Alight in a research note on Friday, June 20th. Finally, DA Davidson reiterated a "buy" rating and set a $10.00 price objective on shares of Alight in a research note on Wednesday, March 26th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $9.86.

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.

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