AlTi Global (NASDAQ:ALTI) Stock Price Passes Above 200 Day Moving Average - Should You Sell?

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) shares crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred 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 changing hands.

Analysts Set New Price Targets

ALTI has been the topic of a number of analyst reports. Wall Street Zen raised AlTi Global from a "strong sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Zacks Research upgraded AlTi Global to a "strong sell" rating in a research report on Friday, August 8th.

AlTi Global Price Performance

The company has a 50-day moving average of $4.20 and a two-hundred day moving average of $3.61. The stock has a market capitalization of $616.61 million, a PE ratio of -2.41 and a beta of 0.80.

Insiders Place Their Bets

In other news, insider Colleen A. Graham sold 22,934 shares of the firm's stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $3.47, for a total value of $79,580.98. Following the transaction, the insider directly owned 41,960 shares in the company, valued at $145,601.20. This trade represents a 35.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Michael Tiedemann sold 42,199 shares of the firm's stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $3.47, for a total value of $146,430.53. Following the completion of the transaction, the chief executive officer owned 541,143 shares in the company, valued at approximately $1,877,766.21. This trade represents a 7.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 119,666 shares of company stock valued at $415,241. 10.49% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On AlTi Global

Hedge funds have recently modified their holdings of the stock. Bank of America Corp DE raised its holdings in shares of AlTi Global by 50.2% during the 4th quarter. Bank of America Corp DE now owns 40,500 shares of the basic materials company's stock valued at $179,000 after buying an additional 13,542 shares during the period. Barclays PLC raised its holdings 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 buying an additional 7,417 shares during the period. Invesco Ltd. purchased a new stake in shares of AlTi Global during the 4th quarter valued at about $46,000. Geode Capital Management LLC raised its holdings in shares of AlTi Global by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 1,095,057 shares of the basic materials company's stock valued at $4,831,000 after buying an additional 14,868 shares during the period. Finally, Dimensional Fund Advisors LP purchased a new stake in shares of AlTi Global during the 4th quarter valued at about $44,000. 3.57% of the stock is currently owned by hedge funds and other institutional investors.

About AlTi Global

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.