AlTi Global (NASDAQ:ALTI) Stock Price Up 6.4% – Here’s Why

AlTi Global, Inc. (NASDAQ:ALTI) shares were up 6.4% during mid-day trading on Tuesday . The company traded as high as $3.89 and last traded at $3.8850. 50,051 shares traded hands during mid-day trading, a decline of 72% from the average session volume of 180,231 shares. The stock had previously closed at $3.65.

Wall Street Analysts Forecast Growth

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

AlTi Global Stock Performance

The company has a 50-day moving average of $3.36 and a 200-day moving average of $3.92. The firm has a market capitalization of $582.22 million, a price-to-earnings ratio of -2.72 and a beta of 0.71. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.03.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of ALTI. BNP Paribas Financial Markets grew its holdings in AlTi Global by 110.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 8,729 shares of the basic materials company’s stock worth $31,000 after buying an additional 4,581 shares in the last quarter. Tower Research Capital LLC TRC grew its position in AlTi Global by 158.4% in the 2nd 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. AQR Capital Management LLC acquired a new position in shares of AlTi Global during the first quarter valued at approximately $42,000. XTX Topco Ltd acquired a new position in shares of AlTi Global during the fourth quarter valued at approximately $63,000. Finally, The Manufacturers Life Insurance Company raised its holdings in AlTi Global by 25.4% during the second quarter. The Manufacturers Life Insurance Company now owns 18,157 shares of the basic materials company’s stock worth $75,000 after purchasing an additional 3,679 shares in the last quarter. Institutional investors 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. 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.