AlTi Global (NASDAQ:ALTI) Trading Down 5%

AlTi Global, Inc. (NASDAQ:ALTI)’s stock price traded down 5% on Friday . The company traded as low as $4.56 and last traded at $4.57. 19,160 shares changed hands during mid-day trading, a decline of 84% from the average session volume of 121,336 shares. The stock had previously closed at $4.81.

Analyst Upgrades and Downgrades

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

AlTi Global Stock Down 6.4 %

The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.24. The company has a market cap of $536.99 million, a P/E ratio of -1.41 and a beta of 0.69. The business’s 50 day moving average is $5.42 and its 200 day moving average is $6.52.

AlTi Global (NASDAQ:ALTI) last issued its quarterly earnings data on Friday, March 15th. The basic materials company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.15). AlTi Global had a positive return on equity of 7.77% and a negative net margin of 67.99%. The company had revenue of $91.71 million for the quarter, compared to analysts’ expectations of $66.80 million. As a group, equities analysts anticipate that AlTi Global, Inc. will post 0.27 earnings per share for the current fiscal year.

Insider Buying and Selling at AlTi Global

In other news, Director Mark F. Furlong acquired 25,000 shares of the business’s stock in a transaction dated Tuesday, April 2nd. The shares were purchased at an average price of $5.43 per share, with a total value of $135,750.00. Following the transaction, the director now directly owns 25,000 shares in the company, valued at $135,750. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, Director Mark F. Furlong bought 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was bought at an average price of $5.43 per share, with a total value of $135,750.00. Following the completion of the transaction, the director now directly owns 25,000 shares of the company’s stock, valued at approximately $135,750. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Cayman Holdings Ilwaddi purchased 20,000 shares of the business’s stock in a transaction on Tuesday, April 2nd. The stock was purchased at an average cost of $5.15 per share, for a total transaction of $103,000.00. Following the completion of the acquisition, the insider now directly owns 17,913,265 shares of the company’s stock, valued at approximately $92,253,314.75. The disclosure for this purchase can be found here. Insiders own 27.50% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ALTI. Mesirow Financial Investment Management Inc. grew its stake in shares of AlTi Global by 78.1% during the third quarter. Mesirow Financial Investment Management Inc. now owns 35,666 shares of the basic materials company’s stock worth $248,000 after acquiring an additional 15,642 shares during the last quarter. Swiss National Bank grew its position in AlTi Global by 15.4% during the 3rd quarter. Swiss National Bank now owns 51,067 shares of the basic materials company’s stock worth $355,000 after purchasing an additional 6,800 shares during the last quarter. Finally, Caprock Group LLC increased its stake in AlTi Global by 11.3% during the 1st quarter. Caprock Group LLC now owns 38,928 shares of the basic materials company’s stock valued at $220,000 after purchasing an additional 3,950 shares in the last quarter. 3.57% of the stock is 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.