AlTi Global, Inc. (NASDAQ:ALTI) Sees Large Growth in Short Interest

AlTi Global, Inc. (NASDAQ:ALTI - Get Free Report) was the recipient of a large growth in short interest in March. As of March 31st, there was short interest totalling 675,100 shares, a growth of 46.3% from the March 15th total of 461,300 shares. Currently, 2.3% of the shares of the stock are short sold. Based on an average trading volume of 128,800 shares, the days-to-cover ratio is presently 5.2 days.

AlTi Global Trading Down 4.7 %

AlTi Global stock traded down $0.23 during midday trading on Friday, hitting $4.70. 54,796 shares of the stock were exchanged, compared to its average volume of 125,955. The company has a fifty day simple moving average of $5.70 and a two-hundred day simple moving average of $6.73. AlTi Global has a 52 week low of $3.88 and a 52 week high of $12.27. The stock has a market capitalization of $560.85 million, a PE ratio of -1.47 and a beta of 0.60. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.24.

AlTi Global (NASDAQ:ALTI - Get Free Report) last released its quarterly earnings data on Friday, March 15th. The basic materials company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.15). AlTi Global had a positive return on equity of 7.77% and a negative net margin of 67.99%. The firm had revenue of $91.71 million for the quarter, compared to the consensus estimate of $66.80 million. Equities research analysts anticipate that AlTi Global will post 0.27 EPS for the current fiscal year.

Insider Buying and Selling at AlTi Global

In related news, Director Mark F. Furlong acquired 25,000 shares of the stock in a transaction on Tuesday, April 2nd. The stock was purchased at an average price of $5.43 per share, for a total transaction of $135,750.00. Following the transaction, the director now owns 25,000 shares of the company's stock, valued at approximately $135,750. The acquisition was disclosed in a filing with the SEC, which is available through this link. In other news, insider Brooke Connell sold 15,000 shares of AlTi Global stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $5.07, for a total transaction of $76,050.00. Following the completion of the sale, the insider now owns 190,772 shares in the company, valued at approximately $967,214.04. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Mark F. Furlong purchased 25,000 shares of the stock in a transaction dated Tuesday, April 2nd. The shares were acquired at an average price of $5.43 per share, with a total value of $135,750.00. Following the transaction, the director now owns 25,000 shares in the company, valued at $135,750. The disclosure for this purchase can be found here. Corporate insiders own 27.50% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Citigroup Inc. bought a new position in AlTi Global in the first quarter valued at approximately $56,000. Cubist Systematic Strategies LLC bought a new position in AlTi Global in the first quarter valued at approximately $63,000. Deutsche Bank AG bought a new position in AlTi Global in the third quarter valued at approximately $57,000. Wells Fargo & Company MN lifted its stake in AlTi Global by 5,430.2% in the second quarter. Wells Fargo & Company MN now owns 8,793 shares of the basic materials company's stock valued at $67,000 after buying an additional 8,634 shares in the last quarter. Finally, Barclays PLC bought a new stake in shares of AlTi Global in the first quarter worth $116,000. Institutional investors own 3.57% of the company's stock.

Analysts Set New Price Targets

Separately, Raymond James upgraded shares of AlTi Global from a "market perform" rating to a "strong-buy" rating and set a $9.00 price target for the company in a research report on Thursday, January 25th.

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.