Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Alight Inc. shares valued at $248,780,699 were sold by Blackstone Holdings I/II GP L. on Mar 06. At $8.71 per share, Blackstone Holdings I/II GP L. sold 28,562,652 shares. The insider’s holdings dropped to 57,028 shares worth approximately $0.55 million following the completion of this transaction.
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Also, Blackstone Management Associat sold 28,562,652 shares, netting a total of over 248,780,699 in proceeds. Following the sale of shares at $8.71 each, the insider now holds 57,028 shares.
Before that, BX Tempo ML Holdco 1 L.P. had sold 28,562,652 shares from its account. In a trade valued at $248,780,699, the 10% Owner traded Alight Inc. shares for $8.71 each. Upon closing the transaction, the insider’s holdings decreased to 28,562,652 shares, worth approximately $0.55 million.
As published in their initiating research note from Wedbush on December 09, 2022, Alight Inc. [ALIT] has been an Outperform and the price target has been revised to $13. This represents a 25.46% premium over Wednesday’s closing price. Analysts at Needham started covering the stock with ‘”a Buy”‘ outlook in a report released in early December. As of September 16, 2022, KeyBanc Capital Markets has initiated its “an Overweight” rating for ALIT. Earlier on August 02, 2022, JP Morgan initiated its rating. Their recommendation was “an Overweight” for ALIT stock.
Analyzing ALIT Stock Performance
On Wednesday, Alight Inc. [NYSE: ALIT] rose 0.62% to $9.69. The stock’s lowest price that day was $9.6001, but it reached a high of $9.76 in the same session. During the last five days, there has been a surge of approximately 3.75%. Over the course of the year, Alight Inc. shares have jumped approximately 15.91%. Shares of the company reached a 52-week high of $10.19 on 02/22/23 and a 52-week low of $8.23 on 01/19/23. A 50-day SMA is recorded $9.20, while a 200-day SMA reached $8.26. Nevertheless, trading volume fell to 2.26 million shares from 9.34 million shares the previous day.
Support And Resistance Levels for Alight Inc. (ALIT)
According to the 24-hour chart, there is a support level at 9.61, which, if violated, would cause prices to drop to 9.52. In the upper region, resistance lies at 9.77. The next price resistance is at 9.84. RSI (Relative Strength Index) is 53.56 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.04, which suggests the price will decrease in the coming days. Percent R is at 46.48%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Alight Inc. subject to short interest?
Stocks of Alight Inc. saw a sharp rise in short interest on Jan 30, 2023 jumping by 0.58 million shares to 15.47 million. Data from Yahoo Finance shows that the short interest on Dec 29, 2022 was 14.89 million shares. A jump of 3.75% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 7.47 of the overall float, the days-to-cover ratio (short ratio) jumped to 7.47.
Which companies own the most shares of Alight Inc. (ALIT)?
According to FPR Partners LLC filings, the company currently owns 32,243,960 shares, which is about 6.94% of the total ALIT shares outstanding. The investor’s shares have appreciated by 1,200,000 from its previous 13-F filing of 31043960.0 shares. With the completion of the sale transaction, GIC Pte Ltd.’s stake is now worth $262,960,809. The Vanguard Group, Inc. acquire a 1.88% interest valued at $249.13 million while ArrowMark Colorado Holdings LLC purchased a 6,017,129 stake. A total of 444,020 shares of Alight Inc. were bought by BlackRock Fund Advisors during the quarter, and 0 by Fidelity National Financial, Inc. In its current portfolio, Janus Henderson Investors US LLC holds 12,659,380 shares valued at $118.87 million.
In terms of Alight Inc. share price expectations, FactSet research, analysts set an average price target of $14.42 in the next 12 months, up nearly 47.98% from the previous closing price of $9.63. Analysts anticipate Alight Inc. stock to reach $16.00 by 2023, with the lowest price target being $13.00. In spite of this, 6 analysts ranked Alight Inc. stock as a Buy at the end of 2023. On February 08, 2022, Stephens assigned a price target of “an Overweight” to the stock and initiated coverage with a $15.