AlTi Global (NASDAQ:ALTI) Shares Up 3.4%

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

Analyst Ratings Changes

Separately, Raymond James upgraded 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 note on Thursday, January 25th.

AlTi Global Stock Up 6.8 %

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 company has a 50 day moving average price of $5.67 and a 200 day moving average price of $6.70.

AlTi Global (NASDAQ:ALTI) last issued its earnings results on Friday, March 15th. The basic materials company reported ($0.13) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.15). AlTi Global had a positive return on equity of 7.77% and a negative net margin of 67.99%. The business had revenue of $91.71 million for the quarter, compared to the consensus estimate of $66.80 million. On average, research analysts expect that AlTi Global, Inc. will post 0.27 EPS for the current year.

Insider Transactions at AlTi Global

In related news, insider Brooke Connell sold 15,000 shares of the business’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $5.07, for a total value of $76,050.00. Following the completion of the sale, the insider now directly owns 190,772 shares in the company, valued at approximately $967,214.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, major shareholder Cayman Holdings Ilwaddi purchased 20,000 shares of AlTi Global stock in a transaction that occurred on Tuesday, April 2nd. The stock was 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 of the company’s stock, valued at approximately $92,253,314.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Brooke Connell sold 15,000 shares of the business’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $5.07, for a total value of $76,050.00. Following the completion of the sale, the insider now owns 190,772 shares of the company’s stock, valued at $967,214.04. The disclosure for this sale can be found here. 27.50% of the stock is currently owned by corporate insiders.

Institutional Trading of AlTi Global

Institutional investors have recently added to or reduced their stakes in the company. Citigroup Inc. lifted its position in shares of AlTi Global by 50.8% during the 2nd quarter. Citigroup Inc. now owns 6,774 shares of the basic materials company’s stock valued at $52,000 after acquiring an additional 2,281 shares during the period. Deutsche Bank AG bought a new stake in shares of AlTi Global during the 3rd quarter valued at $57,000. Cubist Systematic Strategies LLC bought a new stake in shares of AlTi Global during the 1st quarter valued at $63,000. Wells Fargo & Company MN lifted its position in shares of 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 valued at $67,000 after acquiring an additional 8,634 shares during the period. Finally, The Manufacturers Life Insurance Company bought a new stake in shares of AlTi Global during the 4th quarter valued at $91,000. 3.57% of the stock is currently owned by institutional investors.

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.