AlTi Global (NASDAQ:ALTI) Releases Earnings Results, Misses Expectations By $0.05 EPS

AlTi Global (NASDAQ:ALTI) issued its earnings results on Monday. The basic materials company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.05), FiscalAI reports. The firm had revenue of $73.11 million during the quarter, compared to the consensus estimate of $63.80 million. AlTi Global had a negative net margin of 46.65% and a negative return on equity of 3.58%.

AlTi Global Stock Performance

Shares of NASDAQ ALTI traded down $0.35 during midday trading on Monday, reaching $3.52. The company’s stock had a trading volume of 168,120 shares, compared to its average volume of 153,667. AlTi Global has a fifty-two week low of $2.96 and a fifty-two week high of $5.45. The business’s 50 day moving average price is $3.82 and its two-hundred day moving average price is $4.16. The company has a market cap of $530.06 million, a P/E ratio of -2.55 and a beta of 0.76.

Institutional Investors Weigh In On AlTi Global

Hedge funds and other institutional investors have recently made changes to their positions in the business. BNP Paribas Financial Markets raised its position in shares of AlTi Global by 110.4% in the third quarter. BNP Paribas Financial Markets now owns 8,729 shares of the basic materials company’s stock valued at $31,000 after buying an additional 4,581 shares in the last quarter. Tower Research Capital LLC TRC raised its position in shares of AlTi Global by 158.4% in the second quarter. Tower Research Capital LLC TRC now owns 9,644 shares of the basic materials company’s stock valued at $40,000 after buying an additional 5,912 shares in the last quarter. XTX Topco Ltd acquired a new stake in shares of AlTi Global in the fourth quarter valued at approximately $63,000. AQR Capital Management LLC acquired a new stake in shares of AlTi Global in the first quarter valued at approximately $42,000. Finally, The Manufacturers Life Insurance Company raised 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 buying an additional 3,679 shares in the last quarter. 3.57% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

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.