Alight shares down after another large block trade

Cannae Holdings

03/01/2024 18:24

** Shares of human resources software co Alight Inc  ALIT.N 
drop as much as 3.5% to $8.12 on Weds as another large block
prices in less than three weeks
    ** Market sources say BofA re-offered ~15 mln shares at
$8.18 vs stock's $8.41 close on Tues
    ** On Dec 15, BofA also priced ~15 mln shares, purportedly
sold by Blackstone  BX.N , at $8.17
    ** Cannae Holdings  CNNE.N , run by prominent dealmaker
William Foley, is top ALIT holder with ~52.48 mln shares, or
10.5% stake, LSEG data shows
    ** Blackstone holds ~16.4 mln shares for roughly 3% stake,
according to the data
    ** ALIT shares traded to 52-week high of $10.19 last Feb and
hit 1-yr low of $6.33 in early Oct
    ** Stock last off 2.1% at $8.23 on the session; ~5.2 mln
shares have exchanged hands vs the 10-DMA volume of about 3.6
mln
    ** 2 of 8 analysts rate ALIT "strong buy", rest have "buy"
recommendations with median PT of $12

 (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))