AlTi Global (NASDAQ:ALTI) Stock Price Passes Above Two Hundred Day Moving Average - Here's Why

Key Points

• AlTi Global’s shares briefly moved above their 200-day moving average of $3.77, reaching $3.78 before trading at $3.57, down 1.7%.
• Analyst sentiment remains negative: Weiss Ratings maintained a “sell” rating, Zacks Research downgraded the stock to “strong sell,” and the overall analyst consensus is “Sell.”
• Several institutional investors increased their positions, but hedge funds and other institutions own only 3.57% of AlTi Global’s outstanding shares.

AlTi Global, Inc. (NASDAQ:ALTI - Get Free Report)'s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $3.77 and traded as high as $3.78. AlTi Global shares last traded at $3.57, with a volume of 116,523 shares changing hands.

Wall Street Analyst Weigh In

ALTI has been the subject of several research analyst reports. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of AlTi Global in a research note on Friday, July 17th. Zacks Research cut shares of AlTi Global from a "hold" rating to a "strong sell" rating in a research note on Tuesday, July 14th. Two analysts have rated the stock with a Sell rating, Based on data from MarketBeat.com, AlTi Global currently has an average rating of "Sell".

AlTi Global Trading Down 1.7%

The company has a 50 day simple moving average of $3.32 and a 200 day simple moving average of $3.77. The company has a market capitalization of $541.28 million, a PE ratio of -2.53 and a beta of 0.71. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.95 and a current ratio of 0.95.

Institutional Trading of AlTi Global

Large investors have recently made changes to their positions in the company. Geode Capital Management LLC grew its holdings in shares of AlTi Global by 15.2% during the second quarter. Geode Capital Management LLC now owns 1,298,545 shares of the basic materials company's stock worth $5,390,000 after buying an additional 170,951 shares in the last quarter. State Street Corp raised its position in shares of AlTi Global by 8.4% in the fourth quarter. State Street Corp now owns 776,258 shares of the basic materials company's stock valued at $3,602,000 after buying an additional 60,177 shares during the last quarter. Yorkville Advisors Global LP lifted its stake in shares of AlTi Global by 19.1% in the first quarter. Yorkville Advisors Global LP now owns 773,000 shares of the basic materials company's stock worth $2,798,000 after buying an additional 123,801 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of AlTi Global by 46.2% in the first quarter. Dimensional Fund Advisors LP now owns 97,681 shares of the basic materials company's stock worth $354,000 after buying an additional 30,878 shares in the last quarter. Finally, Barclays PLC boosted its position in AlTi Global by 11.6% during the fourth quarter. Barclays PLC now owns 67,567 shares of the basic materials company's stock worth $314,000 after acquiring an additional 7,011 shares during the last quarter. 3.57% of the stock is currently owned by hedge funds and other institutional investors.

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. It also provides trust and administration services, such as entity formation and management; creating or modifying trust instruments and administrative practices to meet beneficiary needs; corporate, trustee-executor, and fiduciary services; provision of directors and company secretarial services; administering entity ownership of intellectual property rights; advisory and administration services in connection with investments in marine and aviation assets; and administering entity ownership of fine art and collectibles.

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