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

AlTi Global, Inc. (NASDAQ:ALTI - Get Free Report) saw a significant increase in short interest during the month of April. As of April 15th, there was short interest totalling 780,800 shares, an increase of 15.7% from the March 31st total of 675,100 shares. Currently, 2.4% of the company's shares are sold short. Based on an average trading volume of 138,900 shares, the days-to-cover ratio is presently 5.6 days.

Insiders Place Their Bets

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

Institutional Investors Weigh In On AlTi Global

A hedge fund recently raised its stake in AlTi Global stock. Mesirow Financial Investment Management Inc. lifted its holdings in shares of AlTi Global, Inc. (NASDAQ:ALTI - Free Report) by 78.1% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 35,666 shares of the basic materials company's stock after acquiring an additional 15,642 shares during the period. Mesirow Financial Investment Management Inc.'s holdings in AlTi Global were worth $248,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 3.57% of the company's stock.

Wall Street Analyst Weigh In

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

AlTi Global Stock Up 4.6 %

Shares of ALTI stock traded up $0.22 during trading on Monday, reaching $4.97. The company's stock had a trading volume of 85,741 shares, compared to its average volume of 125,208. AlTi Global has a 1-year low of $3.88 and a 1-year high of $9.22. The stock's 50-day moving average price is $5.54 and its 200 day moving average price is $6.58. The company has a market capitalization of $593.07 million, a price-to-earnings ratio of -1.55 and a beta of 0.60. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.84 and a quick ratio of 0.84.

AlTi Global (NASDAQ:ALTI - Get Free Report) last posted its quarterly earnings results on Friday, March 15th. The basic materials company reported ($0.13) EPS 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 business had revenue of $91.71 million during the quarter, compared to analyst estimates of $66.80 million. On average, research analysts anticipate that AlTi Global will post 0.27 EPS for the current year.

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.