AlTi Global (NASDAQ:ALTI) Sees Unusually-High Trading Volume

Shares of AlTi Global, Inc. (NASDAQ:ALTI - Get Free Report) saw unusually-strong trading volume on Tuesday . Approximately 359,332 shares were traded during mid-day trading, an increase of 183% from the previous session's volume of 126,912 shares.The stock last traded at $5.00 and had previously closed at $4.87.

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 research note on Thursday, January 25th.

AlTi Global Trading Up 2.1 %

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 firm has a market cap of $593.07 million, a P/E ratio of -1.55 and a beta of 0.60. The company's 50 day simple moving average is $5.59 and its 200-day simple moving average is $6.63.

AlTi Global (NASDAQ:ALTI - Get Free Report) last posted its quarterly 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 company had revenue of $91.71 million for the quarter, compared to the consensus estimate of $66.80 million. As a group, research analysts predict that AlTi Global, Inc. will post 0.27 earnings per share for the current fiscal year.

Insider Activity

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

Hedge Funds Weigh In On AlTi Global

An institutional investor recently raised its position in AlTi Global stock. Mesirow Financial Investment Management Inc. boosted its holdings in shares of AlTi Global, Inc. (NASDAQ:ALTI - Free Report) by 78.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 35,666 shares of the basic materials company's stock after buying an additional 15,642 shares during the quarter. Mesirow Financial Investment Management Inc.'s holdings in AlTi Global were worth $248,000 as of its most recent SEC filing. Institutional investors and hedge funds 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.