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

AlTi Global, Inc. (NASDAQ:ALTI) saw a significant increase in short interest in the month of April. As of April 15th, there was short interest totalling 780,800 shares, an increase of 15.7% from the March 31st total of 675,100 shares. Approximately 2.4% of the company’s shares are short sold. Based on an average daily volume of 138,900 shares, the short-interest ratio is currently 5.6 days.

Wall Street Analysts Forecast Growth

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

Insider Transactions at AlTi Global

In other news, Director Mark F. Furlong bought 25,000 shares of the company’s stock in a transaction dated Tuesday, April 2nd. The stock was bought at an average cost of $5.43 per share, for a total transaction of $135,750.00. Following the completion of the acquisition, the director now owns 25,000 shares in the company, valued at approximately $135,750. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, major shareholder Cayman Holdings Ilwaddi bought 20,000 shares of the company’s stock in a transaction dated Tuesday, April 2nd. The stock was bought at an average cost of $5.15 per share, for a total transaction of $103,000.00. Following the completion of the acquisition, the insider now owns 17,913,265 shares in the company, valued at approximately $92,253,314.75. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Mark F. Furlong acquired 25,000 shares of the stock in a transaction on Tuesday, April 2nd. The stock was bought at an average price of $5.43 per share, with a total value of $135,750.00. Following the completion of the acquisition, the director now directly owns 25,000 shares of the company’s stock, valued at $135,750. The disclosure for this purchase can be found here. 27.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On AlTi Global

An institutional investor recently raised its position in AlTi Global stock. Mesirow Financial Investment Management Inc. raised its holdings in shares of AlTi Global, Inc. (NASDAQ:ALTI) by 78.1% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 35,666 shares of the basic materials company’s stock after purchasing an additional 15,642 shares during the period. Mesirow Financial Investment Management Inc.’s holdings in AlTi Global were worth $248,000 as of its most recent SEC filing. 3.57% of the stock is currently owned by institutional investors.

AlTi Global Price Performance

Shares of ALTI opened at $4.75 on Monday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.84 and a current ratio of 0.84. AlTi Global has a one year low of $3.88 and a one year high of $9.22. The company has a 50-day simple moving average of $5.55 and a two-hundred day simple moving average of $6.60.

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

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.