AlTi Global (NASDAQ:ALTI) Stock Price Up 5.5%

AlTi Global, Inc. (NASDAQ:ALTI)’s share price rose 5.5% during mid-day trading on Tuesday . The stock traded as high as $4.98 and last traded at $4.81. Approximately 29,454 shares traded hands during mid-day trading, a decline of 76% from the average daily volume of 120,272 shares. The stock had previously closed at $4.56.

Analyst Ratings Changes

Separately, Raymond James raised shares of AlTi Global from a “market perform” rating to a “strong-buy” rating and set a $9.00 price objective for the company in a research report on Thursday, January 25th.

AlTi Global Stock Up 2.0 %

The firm’s 50-day moving average price is $5.39 and its 200-day moving average price is $6.50. The company has a market cap of $554.88 million, a price-to-earnings ratio of -1.50 and a beta of 0.69. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.84 and a quick ratio of 0.84.

AlTi Global (NASDAQ:ALTI) last announced its earnings results on Friday, March 15th. The basic materials company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.15). The firm had revenue of $91.71 million during the quarter, compared to analysts’ expectations of $66.80 million. AlTi Global had a negative net margin of 67.99% and a positive return on equity of 7.77%. Sell-side analysts forecast that AlTi Global, Inc. will post 0.27 earnings per share for the current fiscal year.

Insider Activity

In other AlTi Global news, insider Brooke Connell sold 15,000 shares of the stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $5.07, for a total transaction of $76,050.00. Following the transaction, the insider now directly owns 190,772 shares in the company, valued at approximately $967,214.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other AlTi Global news, insider Brooke Connell sold 15,000 shares of the stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $5.07, for a total transaction of $76,050.00. Following the sale, the insider now directly owns 190,772 shares of the company’s stock, valued at $967,214.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Cayman Holdings Ilwaddi acquired 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was purchased at an average cost of $5.15 per share, for a total transaction of $103,000.00. Following the acquisition, the insider now owns 17,913,265 shares in the company, valued at $92,253,314.75. The disclosure for this purchase can be found here. Insiders own 27.50% of the company’s stock.

Institutional Trading of AlTi Global

A number of large investors have recently modified their holdings of ALTI. Mesirow Financial Investment Management Inc. increased its holdings in shares of AlTi Global by 78.1% in the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 35,666 shares of the basic materials company’s stock worth $248,000 after acquiring an additional 15,642 shares during the period. Swiss National Bank increased its stake in AlTi Global by 15.4% during the 3rd quarter. Swiss National Bank now owns 51,067 shares of the basic materials company’s stock valued at $355,000 after buying an additional 6,800 shares during the period. Finally, Caprock Group LLC increased its stake in AlTi Global by 11.3% during the 1st quarter. Caprock Group LLC now owns 38,928 shares of the basic materials company’s stock valued at $220,000 after buying an additional 3,950 shares during the period. Institutional investors and hedge funds own 3.57% of the company’s stock.

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.