Alight dims on big block trade

Alight

15/12/2023 17:45

(Updates stock price, adds pricing details, context)
    ** Shares of human resources benefits platform Alight Inc
 ALIT.N  down 3.7% at $8.15 on Fri after block trade priced
    ** ALIT on track for biggest one-day pct drop in about two
months
    ** BofA re-offered ~15 mln shares sold by Blackstone  BX.N 
at $8.17, per market sources
    ** PE giant Blackstone owned ~23.9 mln shares, or ~4.8%
stake in ALIT, LSEG data shows
    ** ALIT had risen ~14% over the past month through Thurs
close. Stock now down >2% YTD
    ** Co on Nov 1 posted adj EPS beat and raised FY earnings
forecast to 65-69 cents/sh, up from 62-67 cents/sh prior
    ** All 9 analysts covering ALIT are bullish, including 3
"strong buy" ratings, per LSEG; median PT of $12 unchanged from
a month ago

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-646-279-6380))