AlTi Global (NASDAQ:ALTI) Stock Price Up 13% – Time to Buy?
by Scott Moore · The Cerbat GemAlTi Global, Inc. (NASDAQ:ALTI – Get Free Report)’s stock price traded up 13% during trading on Monday . The stock traded as high as $5.24 and last traded at $5.32. 117,821 shares were traded during mid-day trading, an increase of 3% from the average session volume of 113,878 shares. The stock had previously closed at $4.71.
Wall Street Analysts Forecast Growth
ALTI has been the topic of a number of recent research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of AlTi Global in a research note on Wednesday, October 8th. Zacks Research raised AlTi Global from a “strong sell” rating to a “hold” rating in a research report on Monday, October 6th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Reduce”.
Get Our Latest Report on AlTi Global
AlTi Global Stock Performance
The company has a 50 day moving average of $4.32 and a two-hundred day moving average of $4.15. The stock has a market capitalization of $742.05 million, a PE ratio of -2.80 and a beta of 0.75.
AlTi Global (NASDAQ:ALTI – Get Free Report) last issued its quarterly earnings results on Thursday, April 20th. The basic materials company reported ($0.11) earnings per share for the quarter. AlTi Global had a negative return on equity of 6.77% and a negative net margin of 71.93%.The business had revenue of ($18.58) million during the quarter. As a group, research analysts predict that AlTi Global, Inc. will post -0.14 EPS for the current fiscal year.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently made changes to their positions in ALTI. BNP Paribas Financial Markets lifted its stake in shares of AlTi Global by 110.4% during the third 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 during the period. Tower Research Capital LLC TRC raised its stake 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 worth $40,000 after acquiring an additional 5,912 shares during the last quarter. AQR Capital Management LLC acquired a new stake in AlTi Global during the 1st quarter worth about $42,000. The Manufacturers Life Insurance Company grew its stake in AlTi Global by 25.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 18,157 shares of the basic materials company’s stock valued at $75,000 after purchasing an additional 3,679 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings 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 purchasing an additional 3,109 shares during the period. Hedge funds and other 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.