AlTi Global (NASDAQ:ALTI) Trading Down 5.3%

AlTi Global, Inc. (NASDAQ:ALTI) shares traded down 5.3% during trading on Tuesday . The company traded as low as $4.27 and last traded at $4.27. 11,611 shares were traded during mid-day trading, a decline of 91% from the average session volume of 123,625 shares. The stock had previously closed at $4.51.

Analysts Set New Price Targets

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

AlTi Global Stock Performance

The company has a debt-to-equity ratio of 0.24, a current ratio of 0.84 and a quick ratio of 0.84. The stock has a 50-day simple moving average of $5.65 and a 200 day simple moving average of $6.68.

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

Insider Activity

In related news, Director Mark F. Furlong purchased 25,000 shares of the business’s stock in a transaction dated Tuesday, April 2nd. The shares were bought at an average price of $5.43 per share, with a total value of $135,750.00. Following the purchase, the director now directly owns 25,000 shares in the company, valued at approximately $135,750. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Mark F. Furlong purchased 25,000 shares of the business’s stock in a transaction dated Tuesday, April 2nd. The shares were bought at an average price of $5.43 per share, with a total value of $135,750.00. Following the purchase, the director now directly owns 25,000 shares in the company, valued at approximately $135,750. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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 shares were acquired at an average cost of $5.15 per share, for a total transaction of $103,000.00. Following the purchase, the insider now directly owns 17,913,265 shares in the company, valued at approximately $92,253,314.75. The disclosure for this purchase can be found here. 27.50% of the stock is currently owned by company insiders.

Institutional Trading of AlTi Global

Hedge funds have recently added to or reduced their stakes in the business. Citigroup Inc. acquired a new stake in AlTi Global during the 1st quarter worth $56,000. Cubist Systematic Strategies LLC acquired a new stake in AlTi Global during the 1st quarter worth $63,000. Deutsche Bank AG acquired a new stake in AlTi Global during the 3rd quarter worth $57,000. Wells Fargo & Company MN raised its stake in AlTi Global by 5,430.2% during the 2nd quarter. Wells Fargo & Company MN now owns 8,793 shares of the basic materials company’s stock worth $67,000 after buying an additional 8,634 shares during the period. Finally, Barclays PLC acquired a new stake in AlTi Global during the 1st quarter worth $116,000. 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.