AlTi Global (NASDAQ:ALTI) Stock Price Down 5.3%

AlTi Global, Inc. (NASDAQ:ALTI)’s stock price was down 5.3% during trading on Tuesday . The stock traded as low as $4.27 and last traded at $4.27. Approximately 11,611 shares changed hands during trading, a decline of 91% from the average daily volume of 123,625 shares. The stock had previously closed at $4.51.

Analyst Ratings Changes

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

AlTi Global Price Performance

The company has a 50 day moving average price of $5.69 and a 200 day moving average price of $6.72. The firm has a market cap of $564.43 million, a PE ratio of -1.41 and a beta of 0.60. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.24.

AlTi Global (NASDAQ:ALTI) last announced its quarterly earnings results on Friday, March 15th. The basic materials company reported ($0.13) EPS for the quarter, missing the consensus estimate 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 firm had revenue of $91.71 million for the quarter, compared to analysts’ expectations of $66.80 million. On average, sell-side analysts expect that AlTi Global, Inc. will post 0.27 EPS for the current year.

Insider Activity at AlTi Global

In related news, Director Mark F. Furlong bought 25,000 shares of AlTi Global stock in a transaction that occurred on 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 purchase, the director now owns 25,000 shares in the company, valued at $135,750. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other AlTi Global news, insider Brooke Connell sold 15,000 shares of the stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $5.07, for a total transaction of $76,050.00. Following the transaction, the insider now owns 190,772 shares of the company’s stock, valued at approximately $967,214.04. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Mark F. Furlong purchased 25,000 shares of AlTi Global stock in a transaction on Tuesday, April 2nd. The shares were acquired at an average cost of $5.43 per share, for a total transaction of $135,750.00. Following the purchase, the director now owns 25,000 shares in the company, valued at $135,750. The disclosure for this purchase 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 business. Vanguard Group Inc. lifted its stake in shares of AlTi Global by 8.8% during the 4th quarter. Vanguard Group Inc. now owns 508,464 shares of the basic materials company’s stock worth $4,454,000 after purchasing an additional 41,042 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of AlTi Global by 112.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 40,735 shares of the basic materials company’s stock worth $357,000 after purchasing an additional 21,546 shares during the period. Barclays PLC lifted its stake in shares of AlTi Global by 362.9% during the 4th quarter. Barclays PLC now owns 37,087 shares of the basic materials company’s stock worth $325,000 after purchasing an additional 29,075 shares during the period. Northern Trust Corp lifted its stake in shares of AlTi Global by 5.0% during the 4th quarter. Northern Trust Corp now owns 202,665 shares of the basic materials company’s stock worth $1,775,000 after purchasing an additional 9,727 shares during the period. Finally, The Manufacturers Life Insurance Company purchased a new position in shares of AlTi Global during the 4th quarter worth $91,000. 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.