AlTi Global (NASDAQ:ALTI) Trading Down 9% - Time to Sell?

Key Points

• AlTi Global shares dropped about 9% intraday to $3.685 from a prior close of $4.05, with mid-day volume of 118,026 shares—roughly 17% below average session volume.
• Weiss Ratings reiterated a “sell (d-)” on ALTI and MarketBeat shows a consensus rating of "Reduce" (one Hold, one Sell).
• The company has a market cap of $547 million and a negative PE of -2.06, while institutional activity includes Allianz SE raising its stake to 20.84 million shares and overall institutional/hedge fund ownership of about 3.57%.

AlTi Global, Inc. (NASDAQ:ALTI - Get Free Report) shares traded down 9% during mid-day trading on Thursday . The stock traded as low as $3.77 and last traded at $3.6850. 118,026 shares traded hands during mid-day trading, a decline of 17% from the average session volume of 141,502 shares. The stock had previously closed at $4.05.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a "sell (d-)" rating on shares of AlTi Global in a research report on Wednesday, January 21st. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Reduce".

AlTi Global Stock Down 7.9%

The business's 50-day moving average price is $4.43 and its 200-day moving average price is $4.21. The firm has a market capitalization of $547.02 million, a PE ratio of -2.06 and a beta of 0.76.

Hedge Funds Weigh In On AlTi Global

A number of hedge funds have recently added to or reduced their stakes in ALTI. Allianz SE boosted its holdings in AlTi Global by 7.9% in the third quarter. Allianz SE now owns 20,841,870 shares of the basic materials company's stock worth $74,197,000 after purchasing an additional 1,523,289 shares in the last quarter. Yorkville Advisors Global LP bought a new position in shares of AlTi Global in the 3rd quarter valued at approximately $1,593,000. Prescott Group Capital Management L.L.C. acquired a new stake in AlTi Global in the 3rd quarter worth approximately $1,039,000. George Kaiser Family Foundation acquired a new position in AlTi Global during the third quarter valued at approximately $1,039,000. Finally, Geode Capital Management LLC raised its position in shares of 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 valued at $5,390,000 after purchasing an additional 170,951 shares during the period. 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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