AlTi Global (NASDAQ:ALTI) Shares Gap Down – Here’s What Happened

AlTi Global, Inc. (NASDAQ:ALTI) gapped down before the market opened on Wednesday . The stock had previously closed at $3.56, but opened at $3.37. AlTi Global shares last traded at $3.3650, with a volume of 4,350 shares trading hands.

Analysts Set New Price Targets

A number of equities analysts recently commented on ALTI shares. Weiss Ratings reissued a “sell (d-)” rating on shares of AlTi Global in a research note on Friday, July 17th. Zacks Research cut AlTi Global from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 14th. Two equities research analysts have rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Sell”.

AlTi Global Trading Down 0.6%

The firm has a market capitalization of $503.38 million, a PE ratio of -2.35 and a beta of 0.71. The company’s 50-day simple moving average is $3.33 and its 200 day simple moving average is $3.80. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.03.

Institutional Investors Weigh In On AlTi Global

Several institutional investors have recently bought and sold shares of the company. BNP Paribas Financial Markets increased its position in shares of AlTi Global by 110.4% during the third quarter. BNP Paribas Financial Markets now owns 8,729 shares of the basic materials company’s stock worth $31,000 after purchasing an additional 4,581 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in AlTi Global by 158.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 9,644 shares of the basic materials company’s stock worth $40,000 after buying an additional 5,912 shares during the last quarter. XTX Topco Ltd acquired a new position in AlTi Global during the 4th quarter valued at about $63,000. AQR Capital Management LLC acquired a new position in AlTi Global during the 1st quarter valued at about $42,000. Finally, The Manufacturers Life Insurance Company boosted its holdings in AlTi Global by 25.4% in the second quarter. The Manufacturers Life Insurance Company now owns 18,157 shares of the basic materials company’s stock worth $75,000 after acquiring an additional 3,679 shares in the last quarter. 3.57% of the stock is currently owned by institutional investors and hedge funds.

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.