Alight Sees Unusually Large Options Volume (NYSE:ALIT)

Alight, Inc. (NYSE:ALIT) saw some unusual options trading on Thursday. Investors purchased 2,418 call options on the stock. This is an increase of approximately 67% compared to the typical daily volume of 1,448 call options.

Alight Price Performance

Shares of NYSE:ALIT traded down $0.05 during trading on Thursday, reaching $0.54. 9,051,372 shares of the company traded hands, compared to its average volume of 27,609,564. The company’s 50 day moving average is $0.74 and its two-hundred day moving average is $1.17. Alight has a 52 week low of $0.48 and a 52 week high of $6.11. The firm has a market capitalization of $289.70 million, a PE ratio of -0.09, a PEG ratio of 0.19 and a beta of 1.60. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 1.92.

Alight (NYSE:ALIT) last released its earnings results on Tuesday, May 5th. The company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.03. The firm had revenue of $534.00 million during the quarter, compared to analyst estimates of $502.74 million. Alight had a negative net margin of 137.50% and a positive return on equity of 13.04%. As a group, sell-side analysts predict that Alight will post 0.28 earnings per share for the current year.

Institutional Trading of Alight

Hedge funds and other institutional investors have recently modified their holdings of the business. Militia Capital Management LLC purchased a new position in shares of Alight in the 1st quarter valued at about $661,000. Essential Partners LLC grew its holdings in shares of Alight by 691.5% in the 1st quarter. Essential Partners LLC now owns 57,333 shares of the company’s stock worth $33,000 after acquiring an additional 50,089 shares during the period. Bull Harbor Capital LLC purchased a new position in shares of Alight during the 1st quarter worth approximately $31,000. Royal Bank of Canada lifted its stake in shares of Alight by 11.4% during the 1st quarter. Royal Bank of Canada now owns 167,489 shares of the company’s stock worth $97,000 after purchasing an additional 17,076 shares during the period. Finally, Empowered Funds LLC raised its position in shares of Alight by 5.5% in the 1st quarter. Empowered Funds LLC now owns 2,127,000 shares of the company’s stock worth $1,239,000 after buying an additional 110,456 shares during the period. 96.74% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ALIT has been the subject of a number of research reports. KeyCorp lowered shares of Alight from an “overweight” rating to a “sector weight” rating in a research report on Thursday, February 19th. Needham & Company LLC downgraded Alight from a “buy” rating to a “hold” rating in a report on Thursday, February 19th. Weiss Ratings cut Alight from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, May 7th. Citigroup lowered Alight from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $6.50 to $1.00 in a report on Friday, February 20th. Finally, Wall Street Zen upgraded Alight from a “sell” rating to a “hold” rating in a research note on Saturday, April 25th. Three research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Alight has a consensus rating of “Hold” and a consensus target price of $3.56.

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.