AlTi Global (NASDAQ:ALTI) Shares Gap Down – Time to Sell?

AlTi Global, Inc. (NASDAQ:ALTI)’s share price gapped down prior to trading on Monday . The stock had previously closed at $4.23, but opened at $4.07. AlTi Global shares last traded at $4.0750, with a volume of 2,056 shares trading hands.

Analysts Set New Price Targets

ALTI has been the topic of several research analyst reports. Zacks Research raised AlTi Global from a “strong sell” rating to a “hold” rating in a report on Monday, October 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of AlTi Global in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce”.

AlTi Global Stock Up 5.1%

The stock has a 50-day moving average of $4.38 and a 200 day moving average of $4.16. The stock has a market cap of $607.13 million, a PE ratio of -2.29 and a beta of 0.75.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in ALTI. BNP Paribas Financial Markets raised its holdings in AlTi Global by 110.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 8,729 shares of the basic materials company’s stock valued at $31,000 after buying an additional 4,581 shares during the period. Tower Research Capital LLC TRC increased its stake in AlTi Global by 158.4% during 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 during the period. AQR Capital Management LLC acquired a new stake in AlTi Global during the 1st quarter worth approximately $42,000. The Manufacturers Life Insurance Company boosted its holdings in AlTi Global by 25.4% in the second quarter. The Manufacturers Life Insurance Company now owns 18,157 shares of the basic materials company’s stock valued at $75,000 after purchasing an additional 3,679 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in AlTi Global by 15.4% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,280 shares of the basic materials company’s stock valued at $97,000 after purchasing an additional 3,109 shares in the last quarter. 3.57% of the stock is currently owned by institutional investors and hedge funds.

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.