AlTi Global (NASDAQ:ALTI) Sees Unusually-High Trading Volume - Time to Buy?

Key Points

• AlTi Global (NASDAQ: ALTI) saw trading surge to 401,331 shares on Wednesday, a 171% increase from the prior session, with the stock trading around $3.76 (previous close $3.77).
• Analyst sentiment is negative: Weiss Ratings reiterated a sell (D-) and MarketBeat shows a consensus rating of Reduce (one Hold, one Sell).
• Institutional moves include Allianz SE boosting its stake to 20,841,870 shares, yet overall institutional ownership is low at 3.57%; the company has a market cap of about $569.5M and a negative P/E of -2.73.

AlTi Global, Inc. (NASDAQ:ALTI - Get Free Report) shares saw strong trading volume on Wednesday . 401,331 shares changed hands during mid-day trading, an increase of 171% from the previous session's volume of 148,284 shares.The stock last traded at $3.76 and had previously closed at $3.77.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a "sell (d-)" rating on shares of AlTi Global in a research note on Monday. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Reduce".

AlTi Global Stock Up 0.3%

The company has a market capitalization of $569.53 million, a P/E ratio of -2.73 and a beta of 0.83. The company's 50-day simple moving average is $3.97 and its 200 day simple moving average is $4.16.

Institutional Trading of AlTi Global

Large investors have recently added to or reduced their stakes in the business. Allianz SE grew its position in AlTi Global by 7.9% in the third quarter. Allianz SE now owns 20,841,870 shares of the basic materials company's stock worth $74,197,000 after acquiring an additional 1,523,289 shares in the last quarter. Yorkville Advisors Global LP bought a new stake in AlTi Global in the third quarter worth approximately $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, Price T Rowe Associates Inc. MD boosted its holdings in shares of AlTi Global by 28.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 27,873 shares of the basic materials company's stock worth $130,000 after buying an additional 6,197 shares during the period. 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.

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