AlTi Global (NASDAQ:ALTI) Shares Gap Up – What’s Next?

AlTi Global, Inc. (NASDAQ:ALTI) shares gapped up prior to trading on Friday . The stock had previously closed at $3.26, but opened at $3.43. AlTi Global shares last traded at $3.4350, with a volume of 5,050 shares changing hands.

Analyst Ratings Changes

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

AlTi Global Trading Down 1.9%

The company has a quick ratio of 0.83, a current ratio of 0.95 and a debt-to-equity ratio of 0.03. The business’s 50 day moving average is $3.72 and its 200-day moving average is $4.15. The firm has a market cap of $516.04 million, a P/E ratio of -2.44 and a beta of 0.76.

Institutional Trading of AlTi Global

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Allianz SE increased its stake in shares of AlTi Global by 7.9% in the third quarter. Allianz SE now owns 20,841,870 shares of the basic materials company’s stock worth $74,197,000 after buying an additional 1,523,289 shares during the last quarter. Geode Capital Management LLC increased its stake 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 worth $5,390,000 after buying an additional 170,951 shares during the last quarter. State Street Corp increased its stake in shares of AlTi Global by 8.4% in 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 last quarter. Yorkville Advisors Global LP increased its stake in shares of AlTi Global by 19.1% in the first quarter. Yorkville Advisors Global LP now owns 773,000 shares of the basic materials company’s stock worth $2,798,000 after buying an additional 123,801 shares during the last quarter. Finally, George Kaiser Family Foundation bought a new stake in shares of AlTi Global in the third quarter worth $1,039,000. Institutional investors 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.