BlueCrest Capital Management Ltd Buys 626,053 Shares of AlTi Global, Inc. $ALTI

Key Points

• BlueCrest Capital Management increased its AlTi Global stake by 314.7%, buying 626,053 additional shares to own 825,000 shares, or 0.53% of the company, valued at approximately $2.98 million.
• Other institutional investors also adjusted their positions, but institutional ownership remains low at 3.57% of AlTi Global’s outstanding shares.
• AlTi Global shares opened at $3.24, near the lower end of their 52-week range, while analysts have grown more bearish: the stock carries an overall “Sell” rating, with recent downgrades from Zacks Research and Wall Street Zen.

BlueCrest Capital Management Ltd raised its stake in shares of AlTi Global, Inc. (NASDAQ:ALTI - Free Report) by 314.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 825,000 shares of the basic materials company's stock after purchasing an additional 626,053 shares during the period. BlueCrest Capital Management Ltd owned 0.53% of AlTi Global worth $2,978,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of ALTI. BNP Paribas Financial Markets lifted its holdings in shares of AlTi Global by 110.4% during the third quarter. BNP Paribas Financial Markets now owns 8,729 shares of the basic materials company's stock worth $31,000 after buying an additional 4,581 shares during the last quarter. Tower Research Capital LLC TRC grew its stake in shares of AlTi Global by 158.4% in the second quarter. Tower Research Capital LLC TRC now owns 9,644 shares of the basic materials company's stock worth $40,000 after acquiring an additional 5,912 shares during the last quarter. XTX Topco Ltd bought a new position in AlTi Global during the fourth quarter worth $63,000. AQR Capital Management LLC bought a new position in AlTi Global during the first quarter worth $42,000. Finally, The Manufacturers Life Insurance Company raised its stake in AlTi Global by 25.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 18,157 shares of the basic materials company's stock valued at $75,000 after purchasing an additional 3,679 shares during the last quarter. Institutional investors own 3.57% of the company's stock.

AlTi Global Stock Down 5.3%

ALTI opened at $3.24 on Thursday. AlTi Global, Inc. has a fifty-two week low of $2.75 and a fifty-two week high of $5.45. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.97 and a quick ratio of 0.97. The firm's fifty day moving average price is $3.77 and its two-hundred day moving average price is $3.67. The company has a market capitalization of $505.25 million, a P/E ratio of -2.33 and a beta of 0.72.

Analysts Set New Price Targets

Several research firms have issued reports on ALTI. Weiss Ratings restated a "sell (d-)" rating on shares of AlTi Global in a research report on Friday, July 17th. Zacks Research cut shares of AlTi Global from a "hold" rating to a "strong sell" rating in a research note on Tuesday, July 14th. Finally, Wall Street Zen downgraded AlTi Global from a "hold" rating to a "sell" rating in a research report on Saturday, September 5th. Two analysts have rated the stock with a Sell rating, According to MarketBeat, the stock currently has an average rating of "Sell".

AlTi Global 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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