AlTi Global (NASDAQ:ALTI) Shares Pass Above Two Hundred Day Moving Average - What's Next?

Key Points

• AlTi Global's share price has recently crossed above its 200-day moving average of $3.61, trading as high as $4.57.
• The stock has seen a decline of 0.9% and has a current market capitalization of $623.01 million with a negative price-to-earnings ratio of -2.43.
• Insider sales totaled 119,666 shares valued at $415,241 over the last ninety days, indicating a decrease in ownership among key executives.

AlTi Global, Inc. (NASDAQ:ALTI - Get Free Report)'s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $3.61 and traded as high as $4.57. AlTi Global shares last traded at $4.38, with a volume of 117,409 shares traded.

Analyst Ratings Changes

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

AlTi Global Stock Down 0.9%

The stock has a 50-day moving average price of $4.17 and a 200 day moving average price of $3.61. The firm has a market capitalization of $623.01 million, a price-to-earnings ratio of -2.43 and a beta of 0.80.

Insiders Place Their Bets

In related news, COO Kevin P. Moran sold 28,509 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 value of $98,926.23. Following the completion of the transaction, the chief operating officer directly owned 60,311 shares of the company's stock, valued at $209,279.17. This represents a 32.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, 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 shares were sold at an average price of $3.47, for a total value of $79,580.98. Following the completion of the transaction, the insider directly owned 41,960 shares of the company's stock, valued at $145,601.20. This trade represents a 35.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 119,666 shares of company stock valued at $415,241. 10.49% of the stock is owned by company insiders.

Hedge Funds Weigh In On AlTi Global

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Geode Capital Management LLC boosted its holdings in AlTi Global by 15.2% in 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. AQR Capital Management LLC acquired a new stake in shares of AlTi Global in the first quarter valued at approximately $42,000. Flputnam Investment Management Co. acquired a new stake in shares of AlTi Global in the first quarter valued at approximately $76,000. Nuveen LLC acquired a new stake in shares of AlTi Global in the first quarter valued at approximately $158,000. Finally, Invesco Ltd. boosted its holdings in shares of AlTi Global by 262.9% in the first quarter. Invesco Ltd. now owns 37,900 shares of the basic materials company's stock valued at $115,000 after acquiring an additional 27,455 shares during the period. 3.57% of the stock is 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.

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