Short Interest in AlTi Global, Inc. (NASDAQ:ALTI) Decreases By 15.7%

AlTi Global, Inc. (NASDAQ:ALTI) was the recipient of a large drop in short interest in April. As of April 15th, there was short interest totaling 1,436,224 shares, a drop of 15.7% from the March 31st total of 1,703,562 shares. Based on an average daily volume of 120,626 shares, the short-interest ratio is currently 11.9 days. Approximately 1.1% of the shares of the stock are short sold.

AlTi Global Price Performance

Shares of NASDAQ ALTI traded up $0.04 during midday trading on Friday, hitting $3.58. The stock had a trading volume of 24,166 shares, compared to its average volume of 153,079. The company’s 50-day simple moving average is $3.88 and its 200 day simple moving average is $4.15. The firm has a market cap of $538.65 million, a P/E ratio of -2.59 and a beta of 0.83. AlTi Global has a fifty-two week low of $2.96 and a fifty-two week high of $5.45.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On AlTi Global

Several hedge funds and other institutional investors have recently made changes to their positions in ALTI. Allianz SE increased its stake in shares of AlTi Global by 7.9% in the 3rd quarter. Allianz SE now owns 20,841,870 shares of the basic materials company’s stock valued at $74,197,000 after buying an additional 1,523,289 shares during the period. Yorkville Advisors Global LP acquired a new stake in shares of AlTi Global in the 3rd quarter valued at $1,593,000. Prescott Group Capital Management L.L.C. acquired a new stake in shares of AlTi Global during the third quarter worth $1,039,000. George Kaiser Family Foundation acquired a new stake in shares of AlTi Global during the third quarter worth $1,039,000. Finally, Geode Capital Management LLC grew its stake in shares of AlTi Global by 15.2% during 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 purchasing an additional 170,951 shares during the period. 3.57% of the stock is owned by institutional investors and hedge funds.

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.