AlTi Global (NASDAQ:ALTI) Shares Down 5%

AlTi Global, Inc. (NASDAQ:ALTI - Get Free Report)'s stock price was down 5% during trading on Friday . The company traded as low as $4.56 and last traded at $4.57. Approximately 19,160 shares changed hands during mid-day trading, a decline of 84% from the average daily volume of 121,336 shares. The stock had previously closed at $4.81.

Analyst Upgrades and Downgrades

Separately, Raymond James upgraded 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 Stock Down 6.4 %

The company's 50-day simple moving average is $5.45 and its two-hundred day simple moving average is $6.54. 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 firm has a market capitalization of $536.99 million, a P/E ratio of -1.41 and a beta of 0.69.

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). The company had revenue of $91.71 million for the quarter, compared to analysts' expectations of $66.80 million. AlTi Global had a negative net margin of 67.99% and a positive return on equity of 7.77%. As a group, research analysts expect that AlTi Global, Inc. will post 0.27 earnings per share for the current year.

Insiders Place Their Bets

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

Hedge Funds Weigh In On AlTi Global

Institutional investors have recently added to or reduced their stakes in the company. Caprock Group LLC boosted its position in shares of AlTi Global by 11.3% during the 1st quarter. Caprock Group LLC now owns 38,928 shares of the basic materials company's stock valued at $220,000 after acquiring an additional 3,950 shares during the last quarter. Mesirow Financial Investment Management Inc. lifted its position in AlTi Global by 78.1% during the third quarter. Mesirow Financial Investment Management Inc. now owns 35,666 shares of the basic materials company's stock valued at $248,000 after purchasing an additional 15,642 shares during the last quarter. Finally, Swiss National Bank increased its holdings in shares of AlTi Global by 15.4% in the 3rd quarter. Swiss National Bank now owns 51,067 shares of the basic materials company's stock worth $355,000 after buying an additional 6,800 shares during the last quarter. Hedge funds and other institutional investors 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.

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