AlTi Global (NASDAQ:ALTI) Stock Crosses Above Two Hundred Day Moving Average - Here's What Happened

AlTi Global, Inc. (NASDAQ:ALTI - Get Free Report) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $3.59 and traded as high as $4.18. AlTi Global shares last traded at $4.03, with a volume of 103,901 shares changing hands.

Analysts Set New Price Targets

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

AlTi Global Trading Up 0.2%

The firm's 50-day moving average price is $3.63 and its 200 day moving average price is $3.59. The company has a market capitalization of $588.87 million, a price-to-earnings ratio of -2.51 and a beta of 0.80.

Insider Activity

In related news, insider Brooke Connell sold 21,462 shares of the company'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 transaction of $74,473.14. Following the completion of the transaction, the insider directly owned 216,389 shares in the company, valued at $750,869.83. This represents a 9.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Colleen A. Graham sold 22,934 shares of the company's stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $3.47, for a total transaction of $79,580.98. Following the transaction, the insider owned 41,960 shares of the company's stock, valued at approximately $145,601.20. This represents a 35.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 115,104 shares of company stock valued at $399,411 over the last quarter. 10.49% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On AlTi Global

A number of institutional investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp increased its position in AlTi Global by 5.7% during the 4th quarter. Bank of New York Mellon Corp now owns 81,965 shares of the basic materials company's stock worth $361,000 after purchasing an additional 4,411 shares in the last quarter. Wells Fargo & Company MN increased its position 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 worth $89,000 after purchasing an additional 4,764 shares in the last quarter. BNP Paribas Financial Markets acquired a new position in AlTi Global during the 4th quarter worth approximately $25,000. Barclays PLC increased its position in AlTi Global by 16.7% during the 4th quarter. Barclays PLC now owns 51,874 shares of the basic materials company's stock worth $229,000 after purchasing an additional 7,417 shares in the last quarter. Finally, Northern Trust Corp increased its position in AlTi Global by 2.5% during the 4th quarter. Northern Trust Corp now owns 336,209 shares of the basic materials company's stock worth $1,483,000 after purchasing an additional 8,113 shares in the last quarter. 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.