AlTi Global (NASDAQ:ALTI) Trading Up 9.4% – Here’s What Happened

AlTi Global, Inc. (NASDAQ:ALTI)’s stock price shot up 9.4% on Thursday . The company traded as high as $3.70 and last traded at $3.5650. 50,542 shares were traded during trading, a decline of 67% from the average session volume of 153,090 shares. The stock had previously closed at $3.26.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of AlTi Global in a research note on Monday, April 20th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce”.

AlTi Global Stock Up 9.2%

The business’s fifty day moving average is $3.75 and its two-hundred day moving average is $4.15. The company has a quick ratio of 0.83, a current ratio of 0.95 and a debt-to-equity ratio of 0.03. The stock has a market cap of $536.39 million, a price-to-earnings ratio of -2.53 and a beta of 0.76.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in ALTI. Invesco Ltd. lifted its stake in AlTi Global by 262.9% in the first quarter. Invesco Ltd. now owns 37,900 shares of the basic materials company’s stock worth $115,000 after acquiring an additional 27,455 shares during the last quarter. AQR Capital Management LLC purchased a new position in AlTi Global in the first quarter worth approximately $42,000. Geode Capital Management LLC lifted its position in shares of AlTi Global by 15.2% during the 2nd quarter. Geode Capital Management LLC now owns 1,298,545 shares of the basic materials company’s stock worth $5,390,000 after buying an additional 170,951 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position 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 worth $75,000 after buying an additional 3,679 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of AlTi Global by 15.4% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,280 shares of the basic materials company’s stock worth $97,000 after buying an additional 3,109 shares during the last quarter. Hedge funds and other 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.