AlTi Global (NASDAQ:ALTI) Shares Down 5.7% – Here’s What Happened

AlTi Global, Inc. (NASDAQ:ALTI)’s share price traded down 5.7% during trading on Thursday . The stock traded as low as $3.56 and last traded at $3.5540. 40,167 shares traded hands during mid-day trading, a decline of 74% from the average session volume of 152,865 shares. The stock had previously closed at $3.77.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of AlTi Global in a research report on Monday, April 20th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce”.

AlTi Global Stock Down 4.6%

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 company has a market capitalization of $500.35 million, a P/E ratio of -2.34 and a beta of 0.76. The stock has a 50-day moving average price of $3.65 and a 200-day moving average price of $4.13.

Institutional Investors Weigh In On AlTi Global

Several large investors have recently added to or reduced their stakes in the business. AQR Capital Management LLC grew its stake in AlTi Global by 8.2% during the fourth quarter. AQR Capital Management LLC now owns 37,424 shares of the basic materials company’s stock worth $174,000 after purchasing an additional 2,824 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in AlTi Global by 15.4% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,280 shares of the basic materials company’s stock worth $97,000 after purchasing an additional 3,109 shares during the period. The Manufacturers Life Insurance Company grew its stake in AlTi Global by 25.4% during the second quarter. The Manufacturers Life Insurance Company now owns 18,157 shares of the basic materials company’s stock worth $75,000 after purchasing an additional 3,679 shares during the period. BNP Paribas Financial Markets grew its stake 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 worth $31,000 after purchasing an additional 4,581 shares during the period. Finally, Goldman Sachs Group Inc. grew its stake in AlTi Global by 8.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 63,707 shares of the basic materials company’s stock worth $296,000 after purchasing an additional 5,178 shares during the period. Institutional investors and hedge funds 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.