AlTi Global (NASDAQ:ALTI) Stock Price Passes Above Two Hundred Day Moving Average - What's Next?

Key Points

• AlTi Global's stock price recently surpassed its 200-day moving average, trading at $4.84, which is an increase of 18.0%.
• Wall Street analysts upgraded AlTi Global's rating from a "strong sell" to a "hold," indicating a more favorable outlook for the company's stock.
• Insider selling has been observed, with the COO and CEO both divesting shares, which may raise concerns about the company's internal sentiment.

AlTi Global, Inc. (NASDAQ:ALTI - Get Free Report)'s share price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $3.58 and traded as high as $4.84. AlTi Global shares last traded at $4.84, with a volume of 713,182 shares trading hands.

Analysts Set New Price Targets

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

AlTi Global Stock Performance

The company has a 50 day moving average of $4.11 and a 200-day moving average of $3.60. The stock has a market cap of $648.61 million, a price-to-earnings ratio of -2.76 and a beta of 0.80.

Insider Transactions at AlTi Global

In related news, insider Colleen A. Graham sold 22,934 shares of the stock in a transaction dated 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael Tiedemann sold 42,199 shares of the 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 transaction, the chief executive officer directly owned 541,143 shares in the company, valued at approximately $1,877,766.21. The trade was a 7.23% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 119,666 shares of company stock worth $415,241 in the last 90 days. Insiders own 10.49% of the company's stock.

Hedge Funds Weigh In On AlTi Global

Several hedge funds have recently bought and sold shares of ALTI. JPMorgan Chase & Co. lifted its stake in AlTi Global by 198.8% during the 4th quarter. JPMorgan Chase & Co. now owns 80,939 shares of the basic materials company's stock worth $357,000 after acquiring an additional 53,847 shares in the last quarter. Geode Capital Management LLC raised its position in AlTi Global by 1.4% in 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 purchasing an additional 14,868 shares in the last quarter. Wells Fargo & Company MN raised its position in AlTi Global by 30.8% in the 4th quarter. Wells Fargo & Company MN now owns 20,245 shares of the basic materials company's stock valued at $89,000 after purchasing an additional 4,764 shares in the last quarter. Invesco Ltd. acquired a new stake in AlTi Global in the 4th quarter valued at about $46,000. Finally, Barclays PLC raised its position in AlTi Global by 16.7% in the 4th quarter. Barclays PLC now owns 51,874 shares of the basic materials company's stock valued at $229,000 after purchasing an additional 7,417 shares in the last quarter. Institutional investors and hedge funds 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.