AlTi Global (NASDAQ:ALTI) Shares Cross Above Two Hundred Day Moving Average - What's Next?

Key Points

• AlTi Global's share price has surpassed its 200-day moving average of $3.62, reaching a high of $4.21 during trading, indicating potential positive momentum.
• Recent analyst ratings show a mixed outlook, with Zacks Research giving a "strong sell" rating, while Wall Street Zen has updated it to a "hold."
• Insider trading activity has seen significant sales, including COO Kevin P. Moran and CEO Michael Tiedemann, with insiders collectively selling 119,666 shares in the last three months.

AlTi Global, Inc. (NASDAQ:ALTI - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $3.62 and traded as high as $4.21. AlTi Global shares last traded at $4.12, with a volume of 92,673 shares.

Analyst Ratings Changes

A number of brokerages have weighed in on ALTI. Wall Street Zen raised shares of AlTi Global from a "strong sell" rating to a "hold" rating in a report on Thursday, May 22nd. Zacks Research raised shares of AlTi Global to a "strong sell" rating in a report on Friday, August 8th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company has an average rating of "Sell".

AlTi Global Stock Down 1.4%

The firm's 50-day moving average price is $4.25 and its 200 day moving average price is $3.63. The firm has a market cap of $633.53 million, a P/E ratio of -2.40 and a beta of 0.80.

Insider Activity

In related news, COO Kevin P. Moran sold 28,509 shares of the stock in a transaction dated Tuesday, June 3rd. The shares were 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 represents a 32.10% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Colleen A. Graham sold 22,934 shares of the stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $3.47, for a total transaction 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. This represents a 35.34% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 119,666 shares of company stock worth $415,241 over the last ninety days. Insiders own 10.49% of the company's stock.

Hedge Funds Weigh In On AlTi Global

A number of institutional investors and hedge funds have recently bought and sold shares of ALTI. BNP Paribas Financial Markets bought a new position in AlTi Global in the 4th quarter valued at about $25,000. Tower Research Capital LLC TRC grew its position in AlTi Global by 158.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 9,644 shares of the basic materials company's stock valued at $40,000 after buying an additional 5,912 shares in the last quarter. AQR Capital Management LLC bought a new position in AlTi Global in the 1st quarter valued at about $42,000. Dimensional Fund Advisors LP bought a new position in AlTi Global in the 4th quarter valued at about $44,000. Finally, Invesco Ltd. bought a new position in AlTi Global in the 4th quarter valued at about $46,000. 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.