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

AlTi Global, Inc. (NASDAQ:ALTI - Get Free Report)'s stock price 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 changing hands.

Wall Street Analysts Forecast Growth

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 Trading Down 0.3%

The company has a debt-to-equity ratio of 0.17, a current ratio of 4.05 and a quick ratio of 4.05. The stock has a market capitalization of $517.75 million, a price-to-earnings ratio of -2.08 and a beta of 0.72. The business has a 50 day simple moving average of $3.25 and a 200-day simple moving average of $3.65.

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

Insider Buying and Selling at AlTi Global

In other news, CEO Michael Tiedemann sold 42,199 shares of the company'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 $146,430.53. Following the completion of the transaction, the chief executive officer now directly owns 541,143 shares of the company's stock, valued at $1,877,766.21. This represents a 7.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Brooke Connell sold 21,462 shares of the company'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 now directly owns 216,389 shares of the company's stock, valued at $750,869.83. This represents 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 sold 115,104 shares of company stock valued at $399,411. Company insiders own 10.49% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Bank of New York Mellon Corp boosted its position in shares of AlTi Global by 5.7% during the fourth quarter. Bank of New York Mellon Corp now owns 81,965 shares of the basic materials company's stock worth $361,000 after buying an additional 4,411 shares during the period. Wells Fargo & Company MN boosted its position in shares of AlTi Global by 30.8% during the fourth quarter. Wells Fargo & Company MN now owns 20,245 shares of the basic materials company's stock worth $89,000 after buying an additional 4,764 shares during the period. BNP Paribas Financial Markets acquired a new position in shares of AlTi Global during the fourth quarter worth about $25,000. Barclays PLC boosted its position in shares of AlTi Global by 16.7% during the fourth quarter. Barclays PLC now owns 51,874 shares of the basic materials company's stock worth $229,000 after buying an additional 7,417 shares during the period. Finally, Northern Trust Corp boosted its position in shares of AlTi Global by 2.5% during the fourth quarter. Northern Trust Corp now owns 336,209 shares of the basic materials company's stock worth $1,483,000 after buying an additional 8,113 shares during the period. 3.57% of the stock is owned by institutional investors and hedge funds.

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.