AlTi Global (NASDAQ:ALTI) Trading 8.9% Higher

AlTi Global, Inc. (NASDAQ:ALTI - Get Free Report) shares shot up 8.9% during mid-day trading on Thursday . The company traded as high as $5.38 and last traded at $5.36. 11,708 shares changed hands during trading, a decline of 91% from the average session volume of 125,688 shares. The stock had previously closed at $4.92.

Wall Street Analysts Forecast Growth

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

AlTi Global Stock Up 4.3 %

The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $612.16 million, a P/E ratio of -1.60 and a beta of 0.60. The business has a 50-day moving average price of $5.92 and a 200 day moving average price of $6.81.

Insider Activity

In other news, major shareholder Cayman Holdings Ilwaddi bought 20,000 shares of the stock in a transaction dated Tuesday, April 2nd. The stock was purchased at an average cost of $5.15 per share, for a total transaction of $103,000.00. Following the transaction, the insider now owns 17,913,265 shares of the company's stock, valued at $92,253,314.75. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 27.50% of the company's stock.

Institutional Trading of AlTi Global

A number of institutional investors have recently bought and sold shares of ALTI. Citigroup Inc. lifted its position in AlTi Global by 50.8% in the second quarter. Citigroup Inc. now owns 6,774 shares of the basic materials company's stock worth $52,000 after buying an additional 2,281 shares during the last quarter. Deutsche Bank AG bought a new stake in AlTi Global in the third quarter worth $57,000. Cubist Systematic Strategies LLC bought a new stake in AlTi Global in the first quarter worth $63,000. Wells Fargo & Company MN lifted its position 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 worth $67,000 after buying an additional 8,634 shares during the last quarter. Finally, The Manufacturers Life Insurance Company purchased a new stake in AlTi Global in the fourth quarter worth $91,000. 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 and internationally. The company offers discretionary investment management, non-discretionary investment advisory, trust, and administration services, as well as family office services comprising wealth transfer planning, multi-generational education planning, wealth and asset strategy, trust and fiduciary, chief financial officers and outsourced family office, philanthropy, and lifestyle and special projects services.