AlTi Global (NASDAQ:ALTI) Shares Gap Down - Should You Sell?

Key Points

• AlTi Global shares gapped down at the open, falling from a prior close of $3.56 to an opening price of $3.37 and last trading around $3.37.
• Analyst sentiment remains bearish, with Zacks cutting the stock to “strong sell” and Weiss Ratings reiterating a “sell” rating; MarketBeat says the consensus is also “Sell.”
• Valuation and trading context show the stock below its 200-day moving average of $3.82, with a market cap of about $506 million and relatively limited institutional ownership at 3.57%.

AlTi Global, Inc. (NASDAQ:ALTI - Get Free Report) shares gapped down before the market opened on Wednesday . The stock had previously closed at $3.56, but opened at $3.37. AlTi Global shares last traded at $3.3650, with a volume of 4,350 shares traded.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on ALTI. Zacks Research downgraded AlTi Global from a "hold" rating to a "strong sell" rating in a research note on Tuesday, July 14th. Weiss Ratings reiterated a "sell (d-)" rating on shares of AlTi Global in a research note on Friday. Two research analysts have rated the stock with a Sell rating, According to MarketBeat, the stock presently has a consensus rating of "Sell".

AlTi Global Trading Down 0.9%

The firm's 50-day simple moving average is $3.33 and its 200 day simple moving average is $3.82. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.95 and a quick ratio of 0.95. The firm has a market capitalization of $506.40 million, a price-to-earnings ratio of -2.37 and a beta of 0.71.

Institutional Trading of AlTi Global

Large investors have recently bought and sold shares of the business. BNP Paribas Financial Markets raised its stake in AlTi Global by 110.4% during the third quarter. BNP Paribas Financial Markets now owns 8,729 shares of the basic materials company's stock worth $31,000 after acquiring an additional 4,581 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of AlTi Global by 158.4% during 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 purchasing an additional 5,912 shares during the last quarter. XTX Topco Ltd bought a new stake in shares of AlTi Global during the 4th quarter valued at approximately $63,000. AQR Capital Management LLC bought a new stake in shares of AlTi Global during the 1st quarter valued at approximately $42,000. Finally, The Manufacturers Life Insurance Company increased its position in AlTi Global by 25.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 18,157 shares of the basic materials company's stock worth $75,000 after purchasing an additional 3,679 shares in the last quarter. 3.57% of the stock is owned by institutional investors and hedge funds.

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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