AlTi Global (NASDAQ:ALTI) Stock Price Down 8.1% - Time to Sell?

Key Points

• AlTi Global's stock price fell by 8.1% to $3.94, with trade volume decreasing by 47% from its average session.
• Analysts upgraded AlTi Global from a "strong sell" to a "hold" rating on May 22nd, indicating a shift in sentiment.
• Insider selling activity was notable, with CEO Michael Tiedemann and another insider reducing their stakes by approximately 7.23% and 35.34%, respectively.

AlTi Global, Inc. (NASDAQ:ALTI - Get Free Report) shares dropped 8.1% on Tuesday . The company traded as low as $3.86 and last traded at $3.94. Approximately 67,454 shares were traded during mid-day trading, a decline of 47% from the average daily volume of 128,079 shares. The stock had previously closed at $4.28.

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 4.6%

The business has a 50-day moving average price of $3.99 and a 200 day moving average price of $3.59. The company has a market cap of $554.74 million, a price-to-earnings ratio of -2.36 and a beta of 0.80.

Insider Buying and Selling

In other news, COO Kevin P. Moran sold 28,509 shares of the stock in a transaction on 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 sale, the chief operating officer owned 60,311 shares in the company, valued at approximately $209,279.17. This represents a 32.10% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Colleen A. Graham sold 22,934 shares of the stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $3.47, for a total value of $79,580.98. Following the sale, the insider owned 41,960 shares of the company's stock, valued at $145,601.20. This trade 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 quarter. 10.49% of the stock is currently owned by insiders.

Institutional Investors Weigh In On AlTi Global

A number of institutional investors and hedge funds have recently modified their holdings of ALTI. JPMorgan Chase & Co. raised its stake in AlTi Global by 198.8% during the 4th quarter. JPMorgan Chase & Co. now owns 80,939 shares of the basic materials company's stock valued at $357,000 after purchasing an additional 53,847 shares during the period. Geode Capital Management LLC raised its stake in AlTi Global by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 1,095,057 shares of the basic materials company's stock valued at $4,831,000 after purchasing an additional 14,868 shares during the period. Wells Fargo & Company MN increased its stake in shares of AlTi Global by 30.8% in 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. acquired a new position in shares of AlTi Global in the fourth quarter worth $46,000. Finally, Barclays PLC increased its stake in shares of AlTi Global by 16.7% in 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. Institutional investors and hedge funds 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.