AlTi Global, Inc. (NASDAQ:ALTI) Sees Large Decrease in Short Interest

AlTi Global, Inc. (NASDAQ:ALTIGet Free Report) was the target of a significant decline in short interest during the month of May. As of May 31st, there was short interest totalling 682,200 shares, a decline of 6.5% from the May 15th total of 729,500 shares. Based on an average daily trading volume, of 150,500 shares, the short-interest ratio is presently 4.5 days. Approximately 2.1% of the company’s stock are short sold.

AlTi Global Trading Down 0.4 %

Shares of ALTI stock opened at $4.99 on Wednesday. The company has a quick ratio of 2.33, a current ratio of 2.33 and a debt-to-equity ratio of 0.23. The stock has a 50-day simple moving average of $4.73 and a 200 day simple moving average of $5.93. AlTi Global has a fifty-two week low of $4.22 and a fifty-two week high of $9.22. The stock has a market capitalization of $598.84 million, a P/E ratio of -2.73 and a beta of 0.69.

AlTi Global (NASDAQ:ALTIGet Free Report) last issued its quarterly earnings results on Friday, May 10th. The basic materials company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.05). AlTi Global had a positive return on equity of 7.45% and a negative net margin of 29.75%. The company had revenue of $50.81 million during the quarter, compared to analysts’ expectations of $61.50 million. On average, sell-side analysts expect that AlTi Global will post -0.02 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Brooke Connell sold 15,000 shares of the firm’s 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 directly owns 190,772 shares in the company, valued at $967,214.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other AlTi Global news, insider Timothy F. Keaney bought 16,417 shares of the business’s stock in a transaction on Thursday, May 16th. The shares were purchased at an average price of $4.60 per share, with a total value of $75,518.20. Following the purchase, the insider now directly owns 97,321 shares of the company’s stock, valued at $447,676.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Brooke Connell sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $5.07, for a total transaction of $76,050.00. Following the transaction, the insider now directly owns 190,772 shares in the company, valued at approximately $967,214.04. The disclosure for this sale can be found here. Over the last quarter, insiders purchased 268,790 shares of company stock worth $1,290,301 and sold 29,725 shares worth $150,063. Insiders own 22.14% of the company’s stock.

Institutional Investors Weigh In On AlTi Global

Hedge funds have recently bought and sold shares of the business. Caprock Group LLC boosted its stake in shares of 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 buying an additional 3,950 shares during the period. Swiss National Bank increased its position in AlTi Global by 15.4% in the 3rd quarter. Swiss National Bank now owns 51,067 shares of the basic materials company’s stock worth $355,000 after buying an additional 6,800 shares during the period. Finally, Vanguard Group Inc. grew its position in AlTi Global by 213.4% in the 1st quarter. Vanguard Group Inc. now owns 1,593,772 shares of the basic materials company’s stock worth $9,021,000 after purchasing an additional 1,085,308 shares during the last quarter. 3.57% of the stock is owned by hedge funds and other institutional investors.

AlTi Global Company Profile

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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.

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