AlTi Global (NASDAQ:ALTI) Sees Unusually-High Trading Volume – Time to Buy?

Shares of AlTi Global, Inc. (NASDAQ:ALTI) saw unusually-strong trading volume on Wednesday . Approximately 401,331 shares changed hands during trading, an increase of 171% from the previous session’s volume of 148,284 shares.The stock last traded at $3.76 and had previously closed at $3.77.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of AlTi Global in a report on Monday. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, AlTi Global presently has an average rating of “Reduce”.

AlTi Global Trading Up 0.3%

The business’s fifty day simple moving average is $3.97 and its two-hundred day simple moving average is $4.16. The stock has a market capitalization of $569.53 million, a P/E ratio of -2.73 and a beta of 0.83.

Institutional Trading of AlTi Global

Hedge funds have recently bought and sold shares of the stock. BNP Paribas Financial Markets boosted its holdings in AlTi Global by 110.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 8,729 shares of the basic materials company’s stock valued at $31,000 after purchasing an additional 4,581 shares during the period. Tower Research Capital LLC TRC boosted its holdings in AlTi Global by 158.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 9,644 shares of the basic materials company’s stock valued at $40,000 after purchasing an additional 5,912 shares during the period. XTX Topco Ltd bought a new stake in AlTi Global in the 4th quarter valued at $63,000. AQR Capital Management LLC bought a new stake in AlTi Global in the 1st quarter valued at $42,000. Finally, The Manufacturers Life Insurance Company boosted its holdings in 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 valued at $75,000 after purchasing an additional 3,679 shares during the period. 3.57% of the stock is owned by institutional investors.

About AlTi Global

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.