AlTi Global (NASDAQ:ALTI) Stock Price Crosses Above 200 Day Moving Average - Here's Why

Shares of AlTi Global, Inc. (NASDAQ:ALTI - Get Free Report) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $3.60 and traded as high as $4.19. AlTi Global shares last traded at $4.07, with a volume of 158,259 shares.

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 research report on Thursday, May 22nd.

AlTi Global Stock Up 0.2%

The company has a market capitalization of $591.72 million, a PE ratio of -2.52 and a beta of 0.72. The company has a 50-day moving average price of $3.53 and a two-hundred day moving average price of $3.61.

Insider Transactions at AlTi Global

In related news, CEO Michael Tiedemann sold 42,199 shares of AlTi Global stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $3.47, for a total value of $146,430.53. Following the transaction, the chief executive officer now owns 541,143 shares in the company, valued at $1,877,766.21. This trade represents a 7.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Brooke Connell sold 21,462 shares of the company's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $3.47, for a total transaction of $74,473.14. Following the sale, the insider now owns 216,389 shares of the company's stock, valued at approximately $750,869.83. The trade was a 9.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 115,104 shares of company stock valued at $399,411. 10.49% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Allianz SE purchased a new position in shares of AlTi Global in the fourth quarter worth $85,581,000. Charles Schwab Investment Management Inc. increased its position in shares of AlTi Global by 8.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 467,415 shares of the basic materials company's stock valued at $2,061,000 after acquiring an additional 34,798 shares during the period. Barclays PLC increased its position in shares of AlTi Global by 16.7% in the fourth quarter. Barclays PLC now owns 51,874 shares of the basic materials company's stock valued at $229,000 after acquiring an additional 7,417 shares during the period. Bank of America Corp DE raised its stake in shares of AlTi Global by 50.2% during the fourth quarter. Bank of America Corp DE now owns 40,500 shares of the basic materials company's stock valued at $179,000 after acquiring an additional 13,542 shares during the last quarter. Finally, Invesco Ltd. bought a new stake in shares of AlTi Global in the fourth quarter worth about $46,000. 3.57% of the stock is owned by institutional investors.

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.