AlTi Global (NASDAQ:ALTI) Given Sell (D-) Rating at Weiss Ratings

Key Points

• AlTi Global (NASDAQ:ALTI) has received a Sell (D-) rating from Weiss Ratings, with another rating from Zacks Research upgraded to Hold.
• The stock's current price is $3.82, with a market cap of approximately $560.20 million and a 12-month low of $2.33.
• Institutional investors hold 3.57% of AlTi Global’s stock, with Geode Capital Management increasing its stake by 15.2% in the second quarter.

AlTi Global (NASDAQ:ALTI - Get Free Report)'s stock had its "sell (d-)" rating reiterated by equities research analysts at Weiss Ratings in a research note issued on Friday,Weiss Ratings reports.

Separately, Zacks Research upgraded AlTi Global from a "strong sell" rating to a "hold" rating in a research note on Monday, October 6th. One 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.com, the company currently has an average rating of "Reduce".

AlTi Global Price Performance

Shares of ALTI traded up $0.05 during mid-day trading on Friday, reaching $3.82. The company's stock had a trading volume of 28,427 shares, compared to its average volume of 132,146. AlTi Global has a 12-month low of $2.33 and a 12-month high of $5.00. The stock has a market cap of $560.20 million, a PE ratio of -2.12 and a beta of 0.76. The company's 50 day moving average is $3.90 and its 200 day moving average is $3.80.

AlTi Global (NASDAQ:ALTI - Get Free Report) last released its quarterly earnings results on Thursday, April 20th. The basic materials company reported ($0.11) earnings per share (EPS) for the quarter. The firm had revenue of ($18.58) million for the quarter. AlTi Global had a negative return on equity of 0.32% and a negative net margin of 66.10%. As a group, sell-side analysts anticipate that AlTi Global will post -0.14 EPS for the current fiscal year.

Institutional Trading of AlTi Global

A number of hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC lifted its position in AlTi Global by 15.2% during the 2nd quarter. Geode Capital Management LLC now owns 1,298,545 shares of the basic materials company's stock worth $5,390,000 after acquiring an additional 170,951 shares during the period. Nuveen LLC acquired a new stake in AlTi Global during the 1st quarter worth approximately $158,000. Invesco Ltd. lifted its position in AlTi Global by 262.9% during the 1st quarter. Invesco Ltd. now owns 37,900 shares of the basic materials company's stock worth $115,000 after acquiring an additional 27,455 shares during the period. Flputnam Investment Management Co. acquired a new stake in shares of AlTi Global in the 1st quarter valued at approximately $76,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of AlTi Global by 15.4% in the 2nd 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 during the period. 3.57% of the stock is owned by institutional investors and hedge funds.

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.

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