DA Davidson analyst Peter Heckmann keeps a Buy rating on Alight (ALIT) with an $11 price target after DNB Holdco filed with the SEC this morning to register for sale 12M shares of Alight that it received as part of the company’s de-SPAC merger in July 2021. Mid-day, Alight issued a statement on behalf of Cannae and Alight’s Chairman that the 12M shares were sold yesterday in the open market, the analyst tells investors in a research note. The firm views the selloff on the block sale as an overreaction, noting Alight does not have any expectations for additional sales of the shares for the foreseeable future.
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