AlTi Global (NASDAQ:ALTI) Trading Up 18.1% – Should You Buy?

AlTi Global, Inc. (NASDAQ:ALTI) shares shot up 18.1% during trading on Wednesday . The company traded as high as $4.28 and last traded at $4.3940. 283,556 shares traded hands during trading, an increase of 65% from the average daily volume of 171,701 shares. The stock had previously closed at $3.72.

Wall Street Analysts Forecast Growth

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

AlTi Global Trading Down 0.1%

The company has a debt-to-equity ratio of 0.03, a current ratio of 0.95 and a quick ratio of 0.95. The firm has a fifty day simple moving average of $3.40 and a two-hundred day simple moving average of $3.77. The firm has a market capitalization of $657.27 million, a P/E ratio of -3.07 and a beta of 0.71.

Institutional Investors Weigh In On AlTi Global

Large investors have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets lifted its holdings in 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 valued at $31,000 after purchasing an additional 4,581 shares during the last quarter. Tower Research Capital LLC TRC increased its stake in shares of 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 worth $40,000 after purchasing an additional 5,912 shares in the last quarter. XTX Topco Ltd bought a new stake in shares of AlTi Global in the fourth quarter valued at approximately $63,000. AQR Capital Management LLC bought a new stake in shares of AlTi Global in the first quarter valued at approximately $42,000. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of AlTi Global by 25.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 18,157 shares of the basic materials company’s stock valued at $75,000 after buying an additional 3,679 shares in 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.