AlTi Global (NASDAQ:ALTI) Shares Cross Above Two Hundred Day Moving Average - Here's Why

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) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-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.

Analyst Ratings Changes

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

AlTi Global Stock Down 0.4%

The stock has a market cap of $650.04 million, a PE ratio of -2.77 and a beta of 0.80. The firm has a fifty day moving average of $4.09 and a 200 day moving average of $3.60.

Insiders Place Their Bets

In other AlTi Global 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 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 trade represents a 35.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Brooke Connell sold 21,462 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 $74,473.14. Following the transaction, the insider directly owned 216,389 shares in the company, valued at approximately $750,869.83. The trade was a 9.02% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 119,666 shares of company stock worth $415,241. 10.49% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On AlTi Global

Several hedge funds have recently made changes to their positions in the company. BOKF NA acquired a new stake in shares of AlTi Global during the fourth quarter worth about $2,407,000. Geode Capital Management LLC lifted its position 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 during the period. JPMorgan Chase & Co. lifted its position in AlTi Global by 198.8% in the fourth quarter. JPMorgan Chase & Co. now owns 80,939 shares of the basic materials company's stock valued at $357,000 after purchasing an additional 53,847 shares during the period. Nuveen LLC acquired a new stake in AlTi Global in the first quarter valued at about $158,000. Finally, Invesco Ltd. lifted its position in 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 purchasing an additional 27,455 shares during the period. Hedge funds and other institutional investors own 3.57% of the company's stock.

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.