AlTi Global (NASDAQ:ALTI) Stock Price Down 5.4% – Should You Sell?

AlTi Global, Inc. (NASDAQ:ALTI) shares dropped 5.4% during mid-day trading on Monday . The stock traded as low as $4.66 and last traded at $4.6150. Approximately 37,234 shares were traded during mid-day trading, a decline of 72% from the average daily volume of 131,062 shares. The stock had previously closed at $4.88.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on ALTI shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of AlTi Global in a research note on Wednesday, October 8th. Zacks Research upgraded shares of AlTi Global from a “strong sell” rating to a “hold” rating in a research report on Monday, October 6th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Reduce”.

AlTi Global Stock Down 4.9%

The stock has a market capitalization of $680.47 million, a P/E ratio of -2.56 and a beta of 0.77. The company has a 50-day moving average price of $4.14 and a two-hundred day moving average price of $4.09.

AlTi Global (NASDAQ:ALTI) last issued its quarterly earnings data on Thursday, April 20th. The basic materials company reported ($0.11) EPS for the quarter. AlTi Global had a negative net margin of 71.93% and a negative return on equity of 6.77%. The firm had revenue of ($18.58) million for the quarter. On average, sell-side analysts expect that AlTi Global, Inc. will post -0.14 earnings per share for the current year.

Institutional Trading of AlTi Global

Large investors have recently modified their holdings of the business. BNP Paribas Financial Markets increased its holdings in shares of AlTi Global by 110.4% in the third quarter. BNP Paribas Financial Markets now owns 8,729 shares of the basic materials company’s stock worth $31,000 after buying an additional 4,581 shares during the period. Tower Research Capital LLC TRC lifted its position in AlTi Global by 158.4% in the second 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 last quarter. AQR Capital Management LLC purchased a new stake in shares of AlTi Global during the first quarter valued at approximately $42,000. The Manufacturers Life Insurance Company boosted its stake in shares of AlTi Global by 25.4% during the second 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. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of AlTi Global by 15.4% in the second 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 last quarter. Institutional investors own 3.57% of the company’s stock.

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.