AlTi Global (NASDAQ:ALTI) Shares Up 2.8% - Here's Why

AlTi Global, Inc. (NASDAQ:ALTI - Get Free Report) traded up 2.8% during trading on Thursday . The stock traded as high as $3.98 and last traded at $3.98. 731 shares changed hands during trading, a decline of 99% from the average session volume of 145,544 shares. The stock had previously closed at $3.87.

Wall Street Analyst Weigh In

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 Trading Down 0.3%

The company has a quick ratio of 4.05, a current ratio of 4.05 and a debt-to-equity ratio of 0.17. The stock's 50 day moving average is $3.35 and its two-hundred day moving average is $3.63. The company has a market capitalization of $557.58 million, a PE ratio of -2.24 and a beta of 0.72.

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

Insider Buying and Selling at AlTi Global

In related news, COO Kevin P. Moran sold 28,509 shares of the company's stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $3.47, for a total transaction of $98,926.23. Following the completion of the sale, the chief operating officer now directly owns 60,311 shares in the company, valued at $209,279.17. This represents a 32.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Michael Tiedemann sold 42,199 shares of AlTi Global stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $3.47, for a total value of $146,430.53. Following the completion of 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 disclosure for this sale can be found here. In the last 90 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

Several large investors have recently modified their holdings of ALTI. BNP Paribas Financial Markets acquired a new stake in AlTi Global in the fourth quarter valued at approximately $25,000. AQR Capital Management LLC purchased a new stake in shares of AlTi Global during the 1st quarter valued at $42,000. Dimensional Fund Advisors LP acquired a new stake in shares of AlTi Global in the 4th quarter worth $44,000. Invesco Ltd. purchased a new position in AlTi Global during the 4th quarter worth $46,000. Finally, Intech Investment Management LLC purchased a new position in AlTi Global during the 4th quarter worth $46,000. Institutional investors 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.