AlTi Global (NASDAQ:ALTI) Downgraded to "Sell" Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded AlTi Global from “Hold” to “Sell,” following similar bearish revisions from Zacks Research and Weiss Ratings. MarketBeat data shows a consensus “Sell” rating.
• AlTi Global shares opened at $3.00, down 21.9%, with the stock trading below its 50-day and 200-day moving averages. The company has a market capitalization of approximately $468 million and a 52-week range of $2.75 to $5.45.
• Institutional ownership remains limited at 3.57%, although several firms—including Yorkville Advisors and JPMorgan—recently increased their positions in the company.

AlTi Global (NASDAQ:ALTI - Get Free Report) was downgraded by analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a note issued to investors on Saturday, Wall Street Zen reports.

Several other analysts have also recently weighed in on ALTI. Zacks Research cut AlTi Global from a "hold" rating to a "strong sell" rating in a report on Tuesday, July 14th. Weiss Ratings reiterated a "sell (d-)" rating on shares of AlTi Global in a research report on Friday, July 17th. Two investment analysts have rated the stock with a Sell rating, Based on data from MarketBeat.com, AlTi Global has a consensus rating of "Sell".

AlTi Global Stock Down 21.9%

NASDAQ ALTI opened at $3.00 on Friday. The stock has a fifty day moving average of $3.79 and a 200-day moving average of $3.70. The stock has a market capitalization of $467.82 million, a P/E ratio of -2.16 and a beta of 0.72. AlTi Global has a 52 week low of $2.75 and a 52 week high of $5.45. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.97 and a current ratio of 0.97.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ALTI. Yorkville Advisors Global LP increased its holdings in shares of AlTi Global by 45.1% in the fourth quarter. Yorkville Advisors Global LP now owns 649,199 shares of the basic materials company's stock worth $3,012,000 after acquiring an additional 201,699 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of AlTi Global by 149.8% during the third quarter. JPMorgan Chase & Co. now owns 50,238 shares of the basic materials company's stock worth $179,000 after purchasing an additional 30,125 shares during the period. Deutsche Bank AG bought a new position in shares of AlTi Global during the 4th quarter valued at about $139,000. Price T Rowe Associates Inc. MD grew its position in shares of AlTi Global by 28.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 27,873 shares of the basic materials company's stock valued at $130,000 after purchasing an additional 6,197 shares during the period. Finally, Citadel Advisors LLC acquired a new position in shares of AlTi Global in the 3rd quarter valued at approximately $126,000. 3.57% of the stock is currently owned by institutional investors.

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. 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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