AlTi Global (NASDAQ:ALTI) Trading Down 7.2% – What’s Next?
by Danessa Lincoln · The Markets DailyAlTi Global, Inc. (NASDAQ:ALTI – Get Free Report)’s share price fell 7.2% during mid-day trading on Tuesday . The company traded as low as $4.75 and last traded at $4.6950. 332,051 shares were traded during mid-day trading, an increase of 47% from the average session volume of 225,436 shares. The stock had previously closed at $5.06.
Wall Street Analysts Forecast Growth
A number of equities analysts recently commented 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 investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce”.
Get Our Latest Stock Analysis on ALTI
AlTi Global Price Performance
The company has a market cap of $686.34 million, a P/E ratio of -2.59 and a beta of 0.75. The stock has a 50-day moving average of $4.35 and a 200 day moving average of $4.15.
AlTi Global (NASDAQ:ALTI – Get Free Report) last announced its quarterly earnings data on Thursday, April 20th. The basic materials company reported ($0.11) earnings per share (EPS) for the quarter. AlTi Global had a negative return on equity of 6.77% and a negative net margin of 71.93%.The firm had revenue of ($18.58) million for the quarter. Sell-side analysts predict that AlTi Global, Inc. will post -0.14 EPS for the current year.
Institutional Inflows and Outflows
A number of hedge funds have recently added to or reduced their stakes in ALTI. Allianz SE lifted its stake in AlTi Global by 7.9% during the third quarter. Allianz SE now owns 20,841,870 shares of the basic materials company’s stock worth $74,197,000 after purchasing an additional 1,523,289 shares during the last quarter. Yorkville Advisors Global LP acquired a new position in shares of AlTi Global during the 3rd quarter worth $1,593,000. George Kaiser Family Foundation bought a new stake in shares of AlTi Global during the 3rd quarter worth $1,039,000. Prescott Group Capital Management L.L.C. bought a new stake in shares of AlTi Global during the 3rd quarter worth $1,039,000. Finally, Geode Capital Management LLC boosted its stake in AlTi Global by 15.2% in the second quarter. Geode Capital Management LLC now owns 1,298,545 shares of the basic materials company’s stock valued at $5,390,000 after buying an additional 170,951 shares in the last quarter. 3.57% of the stock is 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. 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.