AlTi Global (NASDAQ:ALTI) Trading 9.3% Higher – What’s Next?

AlTi Global, Inc. (NASDAQ:ALTI) shares rose 9.3% during mid-day trading on Wednesday . The company traded as high as $3.38 and last traded at $3.42. Approximately 335,189 shares changed hands during mid-day trading, an increase of 106% from the average daily volume of 162,997 shares. The stock had previously closed at $3.13.

Wall Street Analysts Forecast Growth

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

AlTi Global Stock Performance

The firm has a fifty day moving average of $3.63 and a 200-day moving average of $4.13. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $521.41 million, a price-to-earnings ratio of -2.44 and a beta of 0.76.

Institutional Investors Weigh In On AlTi Global

Several institutional investors and hedge funds have recently made changes to their positions in ALTI. Invesco Ltd. grew its stake in AlTi Global by 262.9% in the 1st quarter. Invesco Ltd. now owns 37,900 shares of the basic materials company’s stock valued at $115,000 after acquiring an additional 27,455 shares during the last quarter. AQR Capital Management LLC acquired a new position in AlTi Global during the first quarter worth about $42,000. 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. The Manufacturers Life Insurance Company grew its position in shares of 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 last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of AlTi Global by 15.4% in the second 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 during the last quarter. 3.57% of the stock is currently owned by hedge funds and other institutional investors.

AlTi Global Company Profile

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.