AlTi Global (NASDAQ:ALTI) Shares Up 3.4%

AlTi Global, Inc. (NASDAQ:ALTI)’s share price was up 3.4% during trading on Wednesday . The company traded as high as $4.58 and last traded at $4.55. Approximately 2,141 shares changed hands during mid-day trading, a decline of 98% from the average daily volume of 123,079 shares. The stock had previously closed at $4.40.

Analyst Ratings Changes

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

AlTi Global Price Performance

The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.84 and a current ratio of 0.84. The business has a fifty day simple moving average of $5.63 and a 200 day simple moving average of $6.67.

AlTi Global (NASDAQ:ALTI) last issued 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 company had revenue of $91.71 million for the quarter, compared to the consensus estimate of $66.80 million. AlTi Global had a positive return on equity of 7.77% and a negative net margin of 67.99%. Analysts expect that AlTi Global, Inc. will post 0.27 EPS for the current year.

Insiders Place Their Bets

In other AlTi Global news, insider Brooke Connell sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $5.07, for a total transaction of $76,050.00. Following the completion of the sale, the insider now directly owns 190,772 shares of the company’s stock, valued at approximately $967,214.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Brooke Connell sold 15,000 shares of the firm’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $5.07, for a total transaction of $76,050.00. Following the completion of the sale, the insider now directly owns 190,772 shares of the company’s stock, valued at approximately $967,214.04. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Mark F. Furlong bought 25,000 shares of the firm’s stock in a transaction dated Tuesday, April 2nd. The shares were acquired at an average cost of $5.43 per share, with a total value of $135,750.00. Following the completion of the transaction, the director now owns 25,000 shares in the company, valued at $135,750. The disclosure for this purchase can be found here. Corporate insiders own 27.50% of the company’s stock.

Institutional Investors Weigh In On AlTi Global

Large investors have recently made changes to their positions in the business. Citigroup Inc. purchased a new stake in shares of AlTi Global during the 1st quarter valued at $56,000. Cubist Systematic Strategies LLC purchased a new stake in AlTi Global in the 1st quarter worth about $63,000. Deutsche Bank AG purchased a new stake in AlTi Global in the 3rd quarter worth about $57,000. Wells Fargo & Company MN increased its holdings in AlTi Global by 5,430.2% in the 2nd quarter. Wells Fargo & Company MN now owns 8,793 shares of the basic materials company’s stock worth $67,000 after acquiring an additional 8,634 shares during the last quarter. Finally, Barclays PLC purchased a new stake in AlTi Global in the 1st quarter worth about $116,000. 3.57% of the stock is 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.