AlTi Global (NASDAQ:ALTI) Shares Gap Down - What's Next?

Key Points

• AlTi Global shares fell sharply, opening at $3.89 versus a previous close of $4.30 and later trading near $4.02.
• Analyst sentiment is negative: Weiss Ratings maintained a “sell” rating, Zacks Research downgraded the stock to “strong sell,” and MarketBeat reports an average rating of “Sell.”
• Several institutional investors increased their holdings, but institutional ownership remains limited at approximately 3.57% of the company’s stock.

AlTi Global, Inc. (NASDAQ:ALTI - Get Free Report) gapped down prior to trading on Tuesday . The stock had previously closed at $4.30, but opened at $3.89. AlTi Global shares last traded at $4.0210, with a volume of 27,330 shares.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ALTI. Weiss Ratings reissued a "sell (d-)" rating on shares of AlTi Global in a research report on Friday, July 17th. Zacks Research downgraded shares of AlTi Global from a "hold" rating to a "strong sell" rating in a research report on Tuesday, July 14th. Two equities research analysts have rated the stock with a Sell rating, Based on data from MarketBeat, AlTi Global currently has an average rating of "Sell".

AlTi Global Stock Performance

The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.03. The company has a 50-day moving average of $3.44 and a 200 day moving average of $3.77. The firm has a market capitalization of $620.13 million, a PE ratio of -2.90 and a beta of 0.71.

Institutional Trading of AlTi Global

Several institutional investors and hedge funds have recently made changes to their positions in ALTI. Geode Capital Management LLC raised its position in AlTi Global by 15.2% during the second quarter. Geode Capital Management LLC now owns 1,298,545 shares of the basic materials company's stock valued at $5,390,000 after purchasing an additional 170,951 shares in the last quarter. State Street Corp increased its position in shares of AlTi Global by 8.4% during the 4th quarter. State Street Corp now owns 776,258 shares of the basic materials company's stock valued at $3,602,000 after purchasing an additional 60,177 shares during the last quarter. Yorkville Advisors Global LP raised its holdings in shares of AlTi Global by 19.1% during the 1st quarter. Yorkville Advisors Global LP now owns 773,000 shares of the basic materials company's stock valued at $2,798,000 after buying an additional 123,801 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of AlTi Global by 46.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 97,681 shares of the basic materials company's stock valued at $354,000 after buying an additional 30,878 shares in the last quarter. Finally, Barclays PLC raised its holdings in shares of AlTi Global by 11.6% during the 4th quarter. Barclays PLC now owns 67,567 shares of the basic materials company's stock valued at $314,000 after buying an additional 7,011 shares in the last quarter. 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. 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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