AlTi Global (NASDAQ:ALTI) Shares Pass Above 200-Day Moving Average - Here's Why

Key Points

• AlTi Global shares moved above their 200-day moving average, reaching $4.05 before closing at $3.90, compared with the 200-day average of $3.75.
• Despite the technical move, analyst sentiment remains negative: Weiss Ratings maintained a “sell” rating, Zacks Research downgraded the stock to “strong sell,” and MarketBeat reports a consensus “Sell” rating.
• Institutional ownership is limited at 3.57%, although several investors recently increased their positions; the company has a market capitalization of approximately $591 million and a price-to-earnings ratio of -2.81.

AlTi Global, Inc. (NASDAQ:ALTI - Get Free Report) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $3.75 and traded as high as $4.05. AlTi Global shares last traded at $3.90, with a volume of 106,650 shares traded.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Weiss Ratings restated a "sell (d-)" rating on shares of AlTi Global in a report on Friday, July 17th. Zacks Research lowered AlTi Global from a "hold" rating to a "strong sell" rating in a report on Tuesday, July 14th. Two analysts have rated the stock with a Sell rating, According to data from MarketBeat, the company has a consensus rating of "Sell".

AlTi Global Price Performance

The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.02. The company has a market cap of $591.32 million, a PE ratio of -2.81 and a beta of 0.71. The stock has a 50-day simple moving average of $3.57 and a 200 day simple moving average of $3.75.

Institutional Investors Weigh In On AlTi Global

Institutional investors have recently made changes to their positions in the stock. BNP Paribas Financial Markets lifted its holdings in shares of AlTi Global by 110.4% in the 3rd 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 during the last quarter. Tower Research Capital LLC TRC increased its holdings in AlTi Global by 158.4% in 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. AQR Capital Management LLC acquired a new stake in AlTi Global in the 1st quarter valued at approximately $42,000. XTX Topco Ltd purchased a new stake in AlTi Global in the fourth quarter valued at approximately $63,000. Finally, The Manufacturers Life Insurance Company raised its position in AlTi Global by 25.4% in the second quarter. The Manufacturers Life Insurance Company now owns 18,157 shares of the basic materials company's stock valued at $75,000 after purchasing an additional 3,679 shares during the period. 3.57% of the stock is currently owned by institutional investors and hedge funds.

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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