AlTi Global (NASDAQ:ALTI) Stock Rating Lowered by Zacks Research

Key Points

• Zacks Research downgraded AlTi Global from hold to strong sell, adding to a bearish outlook on the stock. Weiss Ratings also reiterated a sell (d-) rating, and the consensus rating remains Sell.
• AlTi Global shares were up 3.5% on Tuesday, opening at $3.58. The stock has traded between $2.75 and $5.45 over the past 12 months.
• Institutional investors have recently increased their holdings, including Geode Capital Management, State Street, and Yorkville Advisors. Despite these moves, institutions own only 3.57% of the company’s shares.

AlTi Global (NASDAQ:ALTI - Get Free Report) was downgraded by equities research analysts at Zacks Research from a "hold" rating to a "strong sell" rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

Separately, Weiss Ratings reissued a "sell (d-)" rating on shares of AlTi Global in a report on Monday, April 20th. Two analysts have rated the stock with a Sell rating, According to data from MarketBeat, the stock currently has a consensus rating of "Sell".

AlTi Global Trading Up 3.5%

NASDAQ:ALTI opened at $3.58 on Tuesday. AlTi Global has a 12-month low of $2.75 and a 12-month high of $5.45. The firm has a market capitalization of $542.79 million, a P/E ratio of -2.54 and a beta of 0.71. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.95 and a quick ratio of 0.95. The business has a 50 day simple moving average of $3.35 and a 200 day simple moving average of $3.85.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in ALTI. 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 worth $5,390,000 after purchasing an additional 170,951 shares during the period. State Street Corp increased its position in shares of AlTi Global by 8.4% during the 4th quarter. State Street Corp now owns 776,258 shares of the basic materials company's stock valued at $3,602,000 after purchasing an additional 60,177 shares during the period. Yorkville Advisors Global LP increased its position in shares of AlTi Global by 19.1% during the 1st quarter. Yorkville Advisors Global LP now owns 773,000 shares of the basic materials company's stock valued at $2,798,000 after purchasing an additional 123,801 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of AlTi Global by 46.2% in the 1st 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 raised its stake in shares of AlTi Global by 11.6% in the 4th quarter. Barclays PLC now owns 67,567 shares of the basic materials company's stock worth $314,000 after buying an additional 7,011 shares in the last quarter. Institutional investors and hedge funds 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. 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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