AlTi Global (NASDAQ:ALTI) Shares Down 5.3%

AlTi Global, Inc. (NASDAQ:ALTI - Get Free Report)'s stock price was down 5.3% during trading on Tuesday . The company traded as low as $4.27 and last traded at $4.27. Approximately 11,611 shares changed hands during trading, a decline of 91% from the average daily volume of 123,625 shares. The stock had previously closed at $4.51.

Analysts Set New Price Targets

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

AlTi Global Stock Down 2.4 %

The business has a 50 day simple moving average of $5.69 and a 200 day simple moving average of $6.72. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.84 and a quick ratio of 0.84. The company has a market capitalization of $525.05 million, a price-to-earnings ratio of -1.41 and a beta of 0.60.

AlTi Global (NASDAQ:ALTI - Get Free Report) last posted its quarterly earnings data on Friday, March 15th. The basic materials company reported ($0.13) earnings per share for the quarter, missing analysts' consensus estimates 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 company had revenue of $91.71 million for the quarter, compared to analysts' expectations of $66.80 million. As a group, equities analysts predict that AlTi Global, Inc. will post 0.27 earnings per share for the current fiscal year.

Insider Transactions at AlTi Global

In related news, Director Mark F. Furlong acquired 25,000 shares of the business's 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 completion of the transaction, the director now owns 25,000 shares of the company's stock, valued at $135,750. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other AlTi Global news, major shareholder Cayman Holdings Ilwaddi bought 20,000 shares of the company's stock in a transaction that occurred on Tuesday, April 2nd. The shares were purchased at an average price of $5.15 per share, with a total value of $103,000.00. Following the completion of the acquisition, the insider now directly owns 17,913,265 shares of the company's stock, valued at approximately $92,253,314.75. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Mark F. Furlong bought 25,000 shares of the company's stock in a transaction that occurred on Tuesday, April 2nd. The stock was acquired at an average cost of $5.43 per share, for a total transaction of $135,750.00. Following the acquisition, the director now directly owns 25,000 shares of the company's stock, valued at $135,750. The disclosure for this purchase can be found here. Corporate insiders own 27.50% of the company's stock.

Hedge Funds Weigh In On AlTi Global

Several large investors have recently bought and sold shares of the business. Citigroup Inc. boosted its stake in AlTi Global by 50.8% in the second quarter. Citigroup Inc. now owns 6,774 shares of the basic materials company's stock valued at $52,000 after acquiring an additional 2,281 shares in the last quarter. Deutsche Bank AG acquired a new position in AlTi Global in the third quarter valued at $57,000. Cubist Systematic Strategies LLC acquired a new position in AlTi Global in the first quarter valued at $63,000. Wells Fargo & Company MN boosted 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 acquiring an additional 8,634 shares in the last quarter. Finally, The Manufacturers Life Insurance Company acquired a new position in AlTi Global in the fourth quarter valued at $91,000. Hedge funds and other institutional investors own 3.57% of the company's stock.

AlTi Global Company 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.