AlTi Global (NASDAQ:ALTI) Stock Price Passes Above Two Hundred Day Moving Average - Here's What Happened

Shares of AlTi Global, Inc. (NASDAQ:ALTI - Get Free Report) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $3.58 and traded as high as $4.40. AlTi Global shares last traded at $4.28, with a volume of 78,206 shares traded.

Analyst Upgrades and Downgrades

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

AlTi Global Trading Down 3.6%

The firm has a market capitalization of $560.56 million, a P/E ratio of -2.39 and a beta of 0.80. The firm has a 50-day moving average of $3.98 and a two-hundred day moving average of $3.59.

Insider Transactions at AlTi Global

In other AlTi Global news, insider Brooke Connell sold 21,462 shares of the company'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 $74,473.14. Following the completion of the transaction, the insider owned 216,389 shares of the company's stock, valued at $750,869.83. This represents a 9.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael Tiedemann sold 42,199 shares of the company'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 $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 approximately $1,877,766.21. The trade was a 7.23% decrease in their position. The disclosure for this sale can be found here. Insiders sold 119,666 shares of company stock worth $415,241 in the last 90 days. 10.49% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On AlTi Global

A number of hedge funds have recently made changes to their positions in ALTI. JPMorgan Chase & Co. raised its position in shares of AlTi Global by 198.8% during the fourth quarter. JPMorgan Chase & Co. now owns 80,939 shares of the basic materials company's stock worth $357,000 after acquiring an additional 53,847 shares during the last quarter. Geode Capital Management LLC raised its position in shares of AlTi Global by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 1,095,057 shares of the basic materials company's stock worth $4,831,000 after acquiring an additional 14,868 shares during the last quarter. Wells Fargo & Company MN raised its position in shares of AlTi Global by 30.8% during the fourth quarter. Wells Fargo & Company MN now owns 20,245 shares of the basic materials company's stock worth $89,000 after acquiring an additional 4,764 shares during the last quarter. Invesco Ltd. bought a new position in shares of AlTi Global during the fourth quarter worth about $46,000. Finally, Barclays PLC raised its position in shares of AlTi Global by 16.7% during the fourth quarter. Barclays PLC now owns 51,874 shares of the basic materials company's stock worth $229,000 after acquiring an additional 7,417 shares during the last quarter. 3.57% of the stock is currently owned by institutional investors.

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.