AlTi Global (NASDAQ:ALTI) Stock Passes Above Two Hundred Day Moving Average – Here’s What Happened

Shares of AlTi Global, Inc. (NASDAQ:ALTI) passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $4.16 and traded as high as $4.43. AlTi Global shares last traded at $4.40, with a volume of 98,205 shares trading hands.

Analysts Set New Price Targets

A number of research firms have recently weighed in on ALTI. Weiss Ratings reissued a “sell (d-)” rating on shares of AlTi Global in a report on Wednesday. Zacks Research upgraded shares of AlTi Global from a “strong sell” rating to a “hold” rating in a report on Monday, October 6th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Reduce”.

AlTi Global Stock Performance

The firm has a fifty day simple moving average of $4.41 and a 200 day simple moving average of $4.16. The company has a market cap of $645.27 million, a PE ratio of -2.43 and a beta of 0.75.

Hedge Funds Weigh In On AlTi Global

A number of hedge funds have recently made changes to their positions in the stock. Invesco Ltd. grew its stake in shares of AlTi Global by 262.9% during the 1st quarter. Invesco Ltd. now owns 37,900 shares of the basic materials company’s stock valued at $115,000 after buying an additional 27,455 shares during the period. AQR Capital Management LLC purchased a new stake in AlTi Global during the first quarter valued at about $42,000. Geode Capital Management LLC increased its stake in AlTi Global by 15.2% during the second quarter. Geode Capital Management LLC now owns 1,298,545 shares of the basic materials company’s stock worth $5,390,000 after acquiring an additional 170,951 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of AlTi Global by 25.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 18,157 shares of the basic materials company’s stock worth $75,000 after purchasing an additional 3,679 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of AlTi Global by 15.4% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,280 shares of the basic materials company’s stock worth $97,000 after purchasing an additional 3,109 shares during the period. Institutional investors and hedge funds own 3.57% of the company’s stock.

AlTi Global Company Profile

AlTi Global, Inc provides wealth and asset management services individuals, families, foundations, and institutions in the United States, the United Kingdom, and internationally. It operates through two segments, Wealth Management and Strategic Alternatives. The company offers discretionary investment management, non-discretionary investment advisory, and investment management and advisory services. It also provides trust and administration services, such as entity formation and management; creating or modifying trust instruments and administrative practices to meet beneficiary needs; corporate, trustee-executor, and fiduciary services; provision of directors and company secretarial services; administering entity ownership of intellectual property rights; advisory and administration services in connection with investments in marine and aviation assets; and administering entity ownership of fine art and collectibles.