AlTi Global (NASDAQ:ALTI) Shares Pass Above Two Hundred Day Moving Average - Should You Sell?

AlTi Global, Inc. (NASDAQ:ALTI - Get Free Report) shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $3.66 and traded as high as $3.67. AlTi Global shares last traded at $3.61, with a volume of 210,328 shares traded.

Analyst Upgrades and Downgrades

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

AlTi Global Price Performance

The firm has a 50-day simple moving average of $3.24 and a 200-day simple moving average of $3.66. The firm has a market cap of $517.75 million, a P/E ratio of -2.08 and a beta of 0.72. The company has a current ratio of 4.05, a quick ratio of 4.05 and a debt-to-equity ratio of 0.17.

AlTi Global (NASDAQ:ALTI - Get Free Report) last issued its quarterly earnings data on Thursday, March 13th. The basic materials company reported ($0.63) earnings per share for the quarter, missing analysts' consensus estimates of $0.02 by ($0.65). The company had revenue of $53.33 million for the quarter, compared to the consensus estimate of $74.60 million. AlTi Global had a negative net margin of 41.51% and a positive return on equity of 2.31%. During the same period in the previous year, the business earned ($0.88) EPS. As a group, analysts forecast that AlTi Global, Inc. will post -0.14 EPS for the current year.

Insider Activity

In other news, CEO Michael Tiedemann sold 42,199 shares of the stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $3.47, for a total transaction of $146,430.53. Following the completion of the sale, the chief executive officer now owns 541,143 shares in the company, valued at approximately $1,877,766.21. This represents a 7.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Kevin P. Moran sold 28,509 shares of the business's stock in a transaction 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 transaction, the chief operating officer now owns 60,311 shares in the company, valued at approximately $209,279.17. This trade represents a 32.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 115,104 shares of company stock worth $399,411. Corporate insiders own 10.49% of the company's stock.

Hedge Funds Weigh In On AlTi Global

Several hedge funds have recently modified their holdings of the stock. BNP Paribas Financial Markets acquired a new stake in AlTi Global in the 4th quarter worth approximately $25,000. Dimensional Fund Advisors LP acquired a new position in AlTi Global during the 4th quarter valued at approximately $44,000. Intech Investment Management LLC purchased a new position in shares of AlTi Global in the fourth quarter worth $46,000. Invesco Ltd. acquired a new stake in shares of AlTi Global during the fourth quarter worth $46,000. Finally, AQR Capital Management LLC acquired a new stake in shares of AlTi Global during the first quarter worth $42,000. 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.