AlTi Global (NASDAQ:ALTI) Trading Up 9.4% – Here’s Why

AlTi Global, Inc. (NASDAQ:ALTI) was up 9.4% during mid-day trading on Thursday . The stock traded as high as $3.70 and last traded at $3.5650. Approximately 50,542 shares traded hands during trading, a decline of 67% from the average daily volume of 153,090 shares. The stock had previously closed at $3.26.

Analysts Set New Price Targets

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

AlTi Global Stock Performance

The firm has a market capitalization of $524.33 million, a P/E ratio of -2.47 and a beta of 0.76. The company’s 50 day moving average is $3.71 and its 200-day moving average is $4.14. The company has a quick ratio of 0.83, a current ratio of 0.95 and a debt-to-equity ratio of 0.03.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. AQR Capital Management LLC lifted its stake in shares of AlTi Global by 8.2% in the fourth quarter. AQR Capital Management LLC now owns 37,424 shares of the basic materials company’s stock valued at $174,000 after buying an additional 2,824 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of AlTi Global by 15.4% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,280 shares of the basic materials company’s stock valued at $97,000 after buying an additional 3,109 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake 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. BNP Paribas Financial Markets lifted its stake 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. Finally, Goldman Sachs Group Inc. lifted its stake in shares of AlTi Global by 8.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 63,707 shares of the basic materials company’s stock valued at $296,000 after buying an additional 5,178 shares in the last quarter. 3.57% of the stock is owned by institutional investors.

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. 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.