AlTi Global (NASDAQ:ALTI) Share Price Crosses Above 200-Day Moving Average - Here's Why

AlTi Global, Inc. (NASDAQ:ALTI - Get Free Report)'s stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $3.59 and traded as high as $4.13. AlTi Global shares last traded at $4.11, with a volume of 64,765 shares changing hands.

Analyst Upgrades and Downgrades

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

AlTi Global Trading Up 1.0%

The company has a market cap of $584.61 million, a PE ratio of -2.49 and a beta of 0.80. The business's 50-day simple moving average is $3.68 and its 200-day simple moving average is $3.59.

Insider Activity at AlTi Global

In related news, CEO Michael Tiedemann sold 42,199 shares of AlTi Global stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $3.47, for a total transaction of $146,430.53. Following the completion of the transaction, the chief executive officer directly owned 541,143 shares of the company's stock, valued at $1,877,766.21. This trade represents a 7.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Kevin P. Moran sold 28,509 shares of the business's stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $3.47, for a total transaction of $98,926.23. Following the completion of the transaction, the chief operating officer directly owned 60,311 shares of the company's stock, valued at approximately $209,279.17. This represents a 32.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 115,104 shares of company stock valued at $399,411. Company insiders own 10.49% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. BNP Paribas Financial Markets bought a new stake in shares of AlTi Global in the fourth quarter worth $25,000. AQR Capital Management LLC bought a new stake in shares of AlTi Global in the first quarter worth $42,000. Dimensional Fund Advisors LP bought a new stake in shares of AlTi Global in the fourth quarter worth $44,000. Invesco Ltd. bought a new stake in shares of AlTi Global in the fourth quarter worth $46,000. Finally, Intech Investment Management LLC bought a new stake in shares of AlTi Global in the fourth quarter worth $46,000. Institutional investors and hedge funds 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.

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