AlTi Global (NASDAQ:ALTI) Issues Quarterly Earnings Results

Key Points

• AlTi Global reported a quarterly loss of ($0.18) EPS, missing the consensus estimate of ($0.01) by a significant margin.
• The company's stock price fell 1.5% to $4.49, with a market capitalization of $638.66 million.
• Insider sales have been notable, with COO Kevin P. Moran selling 28,509 shares, indicating a 32.10% decrease in his position.

AlTi Global (NASDAQ:ALTI - Get Free Report) posted its quarterly earnings results on Monday. The basic materials company reported ($0.18) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.17), Zacks reports. AlTi Global had a negative net margin of 58.66% and a positive return on equity of 0.64%.

AlTi Global Stock Down 1.5%

AlTi Global stock traded down $0.07 during mid-day trading on Monday, hitting $4.49. 132,292 shares of the company's stock were exchanged, compared to its average volume of 132,917. The firm has a market capitalization of $638.66 million, a P/E ratio of -2.72 and a beta of 0.80. AlTi Global has a fifty-two week low of $2.33 and a fifty-two week high of $5.00. The company's 50 day simple moving average is $4.11 and its 200-day simple moving average is $3.60.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded AlTi Global from a "strong sell" rating to a "hold" rating in a report on Thursday, May 22nd.

Insiders Place Their Bets

In other news, COO Kevin P. Moran sold 28,509 shares of the firm's stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $3.47, for a total value of $98,926.23. Following the completion of the transaction, the chief operating officer owned 60,311 shares in the company, valued at $209,279.17. This trade represents a 32.10% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Colleen A. Graham sold 22,934 shares of the firm's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $3.47, for a total value of $79,580.98. Following the completion of the transaction, the insider owned 41,960 shares of the company's stock, valued at $145,601.20. The trade was a 35.34% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 119,666 shares of company stock worth $415,241. 10.49% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On AlTi Global

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. AQR Capital Management LLC bought a new stake in shares of AlTi Global in the first quarter valued at approximately $42,000. Invesco Ltd. raised its position in AlTi Global by 262.9% during the first quarter. Invesco Ltd. now owns 37,900 shares of the basic materials company's stock valued at $115,000 after purchasing an additional 27,455 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of AlTi Global by 15.2% during the second quarter. Geode Capital Management LLC now owns 1,298,545 shares of the basic materials company's stock worth $5,390,000 after buying an additional 170,951 shares during the last quarter. Institutional investors own 3.57% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.