AlTi Global (NASDAQ:ALTI) Shares Gap Up – Still a Buy?

by · The Cerbat Gem

AlTi Global, Inc. (NASDAQ:ALTI – Get Free Report) gapped up before the market opened on Monday . The stock had previously closed at $4.34, but opened at $4.57. AlTi Global shares last traded at $4.48, with a volume of 942 shares.

Analyst Ratings Changes

Several research analysts have recently issued reports on ALTI shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of AlTi Global in a research report on Wednesday, October 8th. Zacks Research upgraded shares of AlTi Global from a “strong sell” rating to a “hold” rating in a research report on Monday, October 6th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, AlTi Global presently has a consensus rating of “Reduce”.

Check Out Our Latest Stock Report on AlTi Global

AlTi Global Stock Performance

The company has a 50-day moving average of $3.86 and a 200-day moving average of $3.98. The stock has a market cap of $653.33 million, a price-to-earnings ratio of -2.47 and a beta of 0.77.

AlTi Global (NASDAQ:ALTI – Get Free Report) last announced its earnings results on Thursday, April 20th. The basic materials company reported ($0.11) earnings per share for the quarter. AlTi Global had a negative net margin of 71.93% and a negative return on equity of 6.77%. The company had revenue of ($18.58) million during the quarter. As a group, equities research analysts forecast that AlTi Global, Inc. will post -0.14 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in ALTI. Yorkville Advisors Global LP acquired a new stake in AlTi Global in the third quarter valued at about $1,593,000. Millennium Management LLC acquired a new stake in shares of AlTi Global in the 3rd quarter valued at approximately $91,000. Citadel Advisors LLC purchased a new stake in shares of AlTi Global in the third quarter valued at approximately $126,000. Brevan Howard Capital Management LP grew its holdings in AlTi Global by 42.5% during the third quarter. Brevan Howard Capital Management LP now owns 39,327 shares of the basic materials company’s stock worth $138,000 after acquiring an additional 11,727 shares during the period. Finally, Bank of America Corp DE lifted its holdings in AlTi Global by 28.2% in the third quarter. Bank of America Corp DE now owns 31,553 shares of the basic materials company’s stock valued at $112,000 after acquiring an additional 6,938 shares during the period. 3.57% of the stock is currently owned by institutional investors and hedge funds.

About AlTi Global

(Get Free Report)

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.

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