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

AlTi Global, Inc. (NASDAQ:ALTI) shares gapped down before the market opened on Monday . The stock had previously closed at $4.01, but opened at $3.89. AlTi Global shares last traded at $3.97, with a volume of 22,085 shares changing hands.

Analyst Ratings Changes

Several equities analysts recently issued reports on ALTI shares. Zacks Research downgraded AlTi Global from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 14th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of AlTi Global in a research report on Friday, July 17th. Two investment analysts have rated the stock with a Sell rating, According to data from MarketBeat, AlTi Global currently has an average rating of “Sell”.

AlTi Global Stock Down 1.8%

The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $597.25 million, a PE ratio of -2.76 and a beta of 0.72. The business’s 50-day simple moving average is $3.78 and its 200-day simple moving average is $3.71.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in ALTI. Geode Capital Management LLC lifted its position 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 valued at $5,390,000 after purchasing an additional 170,951 shares during the period. State Street Corp grew its position in AlTi Global by 8.4% during the 4th quarter. State Street Corp now owns 776,258 shares of the basic materials company’s stock worth $3,602,000 after purchasing an additional 60,177 shares during the period. Yorkville Advisors Global LP grew its position in AlTi Global by 19.1% during the 1st quarter. Yorkville Advisors Global LP now owns 773,000 shares of the basic materials company’s stock worth $2,798,000 after purchasing an additional 123,801 shares during the period. Dimensional Fund Advisors LP grew its position in AlTi Global by 46.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 97,681 shares of the basic materials company’s stock worth $354,000 after purchasing an additional 30,878 shares during the period. Finally, Barclays PLC raised its stake in shares of AlTi Global by 11.6% during the 4th quarter. Barclays PLC now owns 67,567 shares of the basic materials company’s stock valued at $314,000 after buying an additional 7,011 shares during the last quarter. Hedge funds and other institutional investors 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.