AlTi Global (NASDAQ:ALTI) Downgraded to “Sell” Rating by Wall Street Zen

Wall Street Zen downgraded shares of AlTi Global (NASDAQ:ALTI) from a hold rating to a sell rating in a report issued on Saturday,Wall Street Zen reports.

ALTI has been the subject of several other reports. Weiss Ratings restated a “sell (d-)” rating on shares of AlTi Global in a research report on Friday, July 17th. Zacks Research downgraded shares of AlTi Global from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 14th. Two equities research analysts have rated the stock with a Sell rating, According to data from MarketBeat.com, the stock currently has an average rating of “Sell”.

AlTi Global Stock Down 21.9%

Shares of AlTi Global stock opened at $3.00 on Friday. The business has a fifty day simple moving average of $3.79 and a 200 day simple moving average of $3.70. The stock has a market cap of $467.82 million, a PE ratio of -2.16 and a beta of 0.72. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.02. AlTi Global has a 12 month low of $2.75 and a 12 month high of $5.45.

Hedge Funds Weigh In On AlTi Global

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Yorkville Advisors Global LP raised its stake in shares of AlTi Global by 45.1% in the 4th quarter. Yorkville Advisors Global LP now owns 649,199 shares of the basic materials company’s stock valued at $3,012,000 after purchasing an additional 201,699 shares during the period. Geode Capital Management LLC lifted its holdings in shares of AlTi Global by 15.2% in the second quarter. Geode Capital Management LLC now owns 1,298,545 shares of the basic materials company’s stock valued at $5,390,000 after purchasing an additional 170,951 shares in the last quarter. State Street Corp boosted its position in shares of AlTi Global by 8.4% during the fourth quarter. State Street Corp now owns 776,258 shares of the basic materials company’s stock worth $3,602,000 after buying an additional 60,177 shares during the period. Citadel Advisors LLC acquired a new position in shares of AlTi Global during the third quarter worth about $126,000. Finally, Dimensional Fund Advisors LP grew its holdings in shares of AlTi Global by 46.2% during the first quarter. Dimensional Fund Advisors LP now owns 97,681 shares of the basic materials company’s stock worth $354,000 after buying an additional 30,878 shares in the last quarter. 3.57% of the stock is 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.