AlTi Global (NASDAQ:ALTI) Trading Down 4.3%

AlTi Global, Inc. (NASDAQ:ALTI - Get Free Report)'s stock price dropped 4.3% during mid-day trading on Wednesday . The stock traded as low as $4.46 and last traded at $4.49. Approximately 28,577 shares changed hands during trading, a decline of 75% from the average daily volume of 116,137 shares. The stock had previously closed at $4.69.

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 target price on the stock in a research note on Thursday, January 25th.

AlTi Global Price Performance

The firm has a market capitalization of $529.83 million, a PE ratio of -2.45 and a beta of 0.69. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.33 and a quick ratio of 0.84. The business's 50 day moving average is $5.22 and its two-hundred day moving average is $6.43.

AlTi Global (NASDAQ:ALTI - Get Free Report) last issued its quarterly earnings results on Friday, March 15th. The basic materials company reported ($0.13) EPS for the quarter, missing analysts' consensus estimates of $0.02 by ($0.15). AlTi Global had a positive return on equity of 7.45% and a negative net margin of 29.75%. The company had revenue of $91.71 million during the quarter, compared to the consensus estimate of $66.80 million. As a group, research analysts anticipate that AlTi Global, Inc. will post 0.27 EPS for the current year.

Insider Buying and Selling at AlTi Global

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

Institutional Investors Weigh In On AlTi Global

Several institutional investors have recently bought and sold shares of the stock. Caprock Group LLC lifted its position in AlTi Global by 11.3% in the first quarter. Caprock Group LLC now owns 38,928 shares of the basic materials company's stock valued at $220,000 after purchasing an additional 3,950 shares during the last quarter. Mesirow Financial Investment Management Inc. raised its holdings in AlTi Global by 78.1% during the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 35,666 shares of the basic materials company's stock valued at $248,000 after buying an additional 15,642 shares during the last quarter. Swiss National Bank raised its holdings in AlTi Global by 15.4% during the 3rd quarter. Swiss National Bank now owns 51,067 shares of the basic materials company's stock valued at $355,000 after buying an additional 6,800 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in AlTi Global by 213.4% during the 1st quarter. Vanguard Group Inc. now owns 1,593,772 shares of the basic materials company's stock valued at $9,021,000 after buying an additional 1,085,308 shares during the period. 3.57% of the stock is currently owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.