AlTi Global (NASDAQ:ALTI) Shares Gap Down - Time to Sell?

Key Points

• AlTi Global's stock price gapped down from a previous close of $4.49 to an opening price of $4.37, with its last trade at $4.32.
• Wall Street Zen upgraded AlTi Global's rating from "strong sell" to "hold" on May 22nd, indicating a potential shift in investor sentiment.
• Insiders have recently sold a significant amount of shares, with over 119,000 shares sold in the past ninety days, raising concerns about insider confidence in the company's outlook.

AlTi Global, Inc. (NASDAQ:ALTI - Get Free Report) gapped down prior to trading on Tuesday . The stock had previously closed at $4.49, but opened at $4.37. AlTi Global shares last traded at $4.32, with a volume of 27,241 shares.

Wall Street Analyst Weigh In

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

AlTi Global Stock Down 2.3%

The stock has a market capitalization of $623.72 million, a price-to-earnings ratio of -2.66 and a beta of 0.80. The company has a 50 day moving average of $4.14 and a 200 day moving average of $3.60.

Insiders Place Their Bets

In related news, insider Colleen A. Graham sold 22,934 shares of the firm's stock in a transaction that occurred 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 transaction, the insider owned 41,960 shares in the company, valued at approximately $145,601.20. This trade represents a 35.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Brooke Connell sold 21,462 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 $74,473.14. Following the completion of the sale, the insider owned 216,389 shares of the company's stock, valued at approximately $750,869.83. This trade represents a 9.02% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 119,666 shares of company stock valued at $415,241. 10.49% of the stock is owned by company insiders.

Institutional Investors Weigh In On AlTi Global

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wells Fargo & Company MN boosted its stake in AlTi Global by 30.8% during the 4th quarter. Wells Fargo & Company MN now owns 20,245 shares of the basic materials company's stock valued at $89,000 after acquiring an additional 4,764 shares during the last quarter. BNP Paribas Financial Markets acquired a new position in AlTi Global during the 4th quarter valued at about $25,000. Barclays PLC boosted its position in shares of AlTi Global by 16.7% during the 4th quarter. Barclays PLC now owns 51,874 shares of the basic materials company's stock valued at $229,000 after purchasing an additional 7,417 shares in the last quarter. Northern Trust Corp boosted its position in shares of AlTi Global by 2.5% during the 4th quarter. Northern Trust Corp now owns 336,209 shares of the basic materials company's stock valued at $1,483,000 after purchasing an additional 8,113 shares in the last quarter. Finally, Dimensional Fund Advisors LP bought a new position in shares of AlTi Global during the 4th quarter valued at about $44,000. Hedge funds and other 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.

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