AlTi Global, Inc. (NASDAQ:ALTI) Sees Large Growth in Short Interest

AlTi Global, Inc. (NASDAQ:ALTI) saw a significant increase in short interest in the month of April. As of April 15th, there was short interest totalling 780,800 shares, an increase of 15.7% from the March 31st total of 675,100 shares. Based on an average trading volume of 138,900 shares, the days-to-cover ratio is currently 5.6 days. Currently, 2.4% of the shares of the stock are sold short.

AlTi Global Trading Up 4.6 %

Shares of NASDAQ ALTI opened at $4.97 on Tuesday. AlTi Global has a 1 year low of $3.88 and a 1 year high of $9.22. The firm’s 50-day moving average is $5.54 and its 200-day moving average is $6.58. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.24.

AlTi Global (NASDAQ:ALTI) last announced its quarterly earnings data on Friday, March 15th. The basic materials company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.15). AlTi Global had a negative net margin of 67.99% and a positive return on equity of 7.77%. The business had revenue of $91.71 million during the quarter, compared to analyst estimates of $66.80 million. Equities analysts expect that AlTi Global will post 0.27 EPS for the current year.

Insider Activity

In other news, major shareholder Cayman Holdings Ilwaddi acquired 20,000 shares of the company’s stock in a transaction dated Tuesday, April 2nd. The stock was bought at an average price of $5.15 per share, with a total value of $103,000.00. Following the completion of the acquisition, the insider now owns 17,913,265 shares in the company, valued at approximately $92,253,314.75. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other AlTi Global news, major shareholder Cayman Holdings Ilwaddi acquired 20,000 shares of AlTi Global stock in a transaction on Tuesday, April 2nd. The shares were bought at an average price of $5.15 per share, with a total value of $103,000.00. Following the completion of the purchase, the insider now owns 17,913,265 shares in the company, valued at $92,253,314.75. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Brooke Connell sold 15,000 shares of AlTi Global stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $5.07, for a total value of $76,050.00. Following the completion of the transaction, the insider now directly owns 190,772 shares of the company’s stock, valued at $967,214.04. The disclosure for this sale can be found here. 27.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Mesirow Financial Investment Management Inc. increased its holdings in AlTi Global by 78.1% in the third quarter. Mesirow Financial Investment Management Inc. now owns 35,666 shares of the basic materials company’s stock valued at $248,000 after purchasing an additional 15,642 shares during the last quarter. Caprock Group LLC grew its position in shares of AlTi Global by 11.3% during the 1st quarter. Caprock Group LLC now owns 38,928 shares of the basic materials company’s stock worth $220,000 after buying an additional 3,950 shares during the period. Finally, Swiss National Bank increased its stake in shares of AlTi Global by 15.4% in the 3rd quarter. Swiss National Bank now owns 51,067 shares of the basic materials company’s stock valued at $355,000 after acquiring an additional 6,800 shares during the last quarter. Institutional investors and hedge funds own 3.57% of the company’s stock.

Analysts Set New Price Targets

Separately, Raymond James upgraded AlTi Global from a “market perform” rating to a “strong-buy” rating and set a $9.00 target price for the company in a research report on Thursday, January 25th.

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.