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

Alight, Inc. (NYSE:ALIT) saw unusually large options trading on Tuesday. Investors acquired 5,000 put options on the company. This represents an increase of approximately 224% compared to the typical daily volume of 1,544 put options.

Institutional Trading of Alight

Several large investors have recently bought and sold shares of the business. Blue Trust Inc. lifted its stake in shares of Alight by 107.6% in the 4th quarter. Blue Trust Inc. now owns 3,336 shares of the company’s stock valued at $25,000 after acquiring an additional 1,729 shares during the last quarter. Public Employees Retirement System of Ohio boosted its holdings in shares of Alight by 65.5% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 5,042 shares of the company’s stock worth $37,000 after buying an additional 1,996 shares in the last quarter. Venturi Wealth Management LLC bought a new position in Alight during the fourth quarter worth $50,000. Oppenheimer & Co. Inc. bought a new stake in Alight in the third quarter valued at $74,000. Finally, Sandia Investment Management LP acquired a new position in shares of Alight during the fourth quarter valued at about $69,000. 96.74% of the stock is owned by institutional investors and hedge funds.

Alight Trading Up 0.6 %

ALIT opened at $6.99 on Wednesday. The stock has a market capitalization of $3.79 billion, a price-to-earnings ratio of -23.28 and a beta of 0.94. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.46. Alight has a twelve month low of $6.15 and a twelve month high of $10.38. The company has a 50-day simple moving average of $6.80 and a 200 day simple moving average of $7.15.

Alight (NYSE:ALIT) last issued its quarterly earnings results on Thursday, February 20th. The company reported $0.21 earnings per share 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 the consensus estimate of $675.66 million. Alight had a positive return on equity of 5.42% and a negative net margin of 5.53%. Analysts predict that Alight will post 0.54 EPS for the current fiscal year.

Alight Dividend Announcement

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 2.29%. Alight’s dividend payout ratio is currently -53.33%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on ALIT. Needham & Company LLC restated a “buy” rating and issued a $9.00 price target on shares of Alight in a research note on Friday, February 21st. KeyCorp boosted their target price on shares of Alight from $10.00 to $11.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. Finally, Canaccord Genuity Group upped their price target 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. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $10.61.

Alight Company Profile

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.