AlTi Global (NASDAQ:ALTI) Trading Up 3.4%

AlTi Global, Inc. (NASDAQ:ALTI - Get Free Report) rose 3.4% during trading on Wednesday . The company traded as high as $4.58 and last traded at $4.55. Approximately 2,141 shares were traded during trading, a decline of 98% from the average daily volume of 123,079 shares. The stock had previously closed at $4.40.

Wall Street Analysts Forecast Growth

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 note on Thursday, January 25th.

AlTi Global Trading Up 3.9 %

The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.24. The business's 50 day moving average is $5.67 and its 200-day moving average is $6.70. The firm has a market cap of $545.34 million, a P/E ratio of -1.44 and a beta of 0.60.

AlTi Global (NASDAQ:ALTI - Get Free Report) last released its earnings results 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 negative net margin of 67.99% and a positive return on equity of 7.77%. The business had revenue of $91.71 million for the quarter, compared to the consensus estimate of $66.80 million. As a group, analysts forecast that AlTi Global, Inc. will post 0.27 earnings per share for the current fiscal year.

Insider Buying and Selling at AlTi Global

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

Hedge Funds Weigh In On AlTi Global

Large investors have recently made changes to their positions in the business. Citigroup Inc. acquired a new position in AlTi Global in the first quarter worth approximately $56,000. Cubist Systematic Strategies LLC bought a new stake in AlTi Global during the first quarter worth approximately $63,000. Deutsche Bank AG bought a new stake in AlTi Global during the third quarter worth approximately $57,000. Wells Fargo & Company MN boosted its position in AlTi Global by 5,430.2% during the second quarter. Wells Fargo & Company MN now owns 8,793 shares of the basic materials company's stock worth $67,000 after purchasing an additional 8,634 shares during the period. Finally, Barclays PLC bought a new stake in shares of AlTi Global in the first quarter valued at approximately $116,000. Institutional investors and hedge funds own 3.57% of the company's stock.

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.