AlTi Global (NASDAQ:ALTI) Upgraded to "Hold" at Zacks Research

Key Points

• Zacks Research upgraded AlTi Global from “strong sell” to “hold,” while analysts maintain a consensus “Reduce” rating, with one hold and one sell rating.
• AlTi Global shares opened at $2.67, up 9.0%, but remain below their 50-day and 200-day moving averages of $3.29 and $3.45, respectively.
• Several institutional investors increased or initiated positions, including BlueCrest Capital Management, which raised its holdings by 314.7%; institutional investors collectively own 3.57% of the company.

AlTi Global (NASDAQ:ALTI - Get Free Report) was upgraded by investment analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a note issued to investors on Monday, Zacks reports.

Other equities analysts have also issued research reports about the stock. Wall Street Zen upgraded shares of AlTi Global from a "sell" rating to a "hold" rating in a research report on Saturday, September 19th. Weiss Ratings reiterated a "sell (d-)" rating on shares of AlTi Global in a report on Thursday, October 15th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, AlTi Global has a consensus rating of "Reduce".

AlTi Global Trading Up 9.0%

AlTi Global stock opened at $2.67 on Monday. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.02. AlTi Global has a 1 year low of $2.26 and a 1 year high of $5.45. The firm's 50 day moving average price is $3.29 and its 200-day moving average price is $3.45.

Hedge Funds Weigh In On AlTi Global

Institutional investors and hedge funds have recently modified their holdings of the stock. BlueCrest Capital Management Ltd raised its holdings in AlTi Global by 314.7% during the 2nd quarter. BlueCrest Capital Management Ltd now owns 825,000 shares of the basic materials company's stock valued at $2,978,000 after buying an additional 626,053 shares during the period. Yorkville Advisors Global LP lifted its position in 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 during the last quarter. Squarepoint Ops LLC bought a new stake in AlTi Global in the second quarter worth $637,000. Dimensional Fund Advisors LP boosted its stake in AlTi Global by 46.2% during 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 during the period. Finally, Simon Quick Advisors LLC purchased a new position in AlTi Global during the first quarter worth $94,000. Hedge funds and other institutional investors own 3.57% of the company's stock.

AlTi Global Company Profile

AlTi Global, Inc NASDAQ: ALTI is a global independent wealth manager providing investment, advisory and strategic services to individuals, families, foundations, endowments and institutions. The company focuses on helping clients manage and grow wealth through customized investment strategies and long-term planning.

Its services include wealth management, investment management, alternative investments, portfolio construction, impact investing and outsourced chief investment officer solutions.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.