AlTi Global (NASDAQ:ALTI) Stock Price Passes Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• AlTi Global shares moved above their 200-day moving average, reaching $4.04 before last trading at $3.99, compared with the average of $3.72.
• Analyst sentiment remains negative: Zacks Research downgraded the stock to “strong sell,” Weiss Ratings reiterated a “sell” rating, and the consensus rating is “Sell.”
• Institutional ownership is limited, with hedge funds and other institutions holding approximately 3.57% of AlTi Global’s shares, despite several funds recently increasing their positions.

AlTi Global, Inc. (NASDAQ:ALTI - Get Free Report)'s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $3.72 and traded as high as $4.04. AlTi Global shares last traded at $3.99, with a volume of 121,170 shares.

Analyst Upgrades and Downgrades

Several research firms have weighed in on ALTI. Zacks Research cut AlTi Global from a "hold" rating to a "strong sell" rating in a research note on Tuesday, July 14th. Weiss Ratings reissued a "sell (d-)" rating on shares of AlTi Global in a research report on Friday, July 17th. Two analysts have rated the stock with a Sell rating, According to data from MarketBeat.com, the company has a consensus rating of "Sell".

AlTi Global Trading Down 0.7%

The company has a debt-to-equity ratio of 0.02, a current ratio of 0.97 and a quick ratio of 0.97. The company has a fifty day moving average of $3.70 and a 200-day moving average of $3.72. The firm has a market capitalization of $622.20 million, a PE ratio of -2.87 and a beta of 0.71.

Institutional Investors Weigh In On AlTi Global

A number of hedge funds and other institutional investors have recently made changes to their positions in ALTI. Yorkville Advisors Global LP grew its stake in shares of AlTi Global by 19.1% in the 1st quarter. Yorkville Advisors Global LP now owns 773,000 shares of the basic materials company's stock valued at $2,798,000 after buying an additional 123,801 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in AlTi Global by 46.2% in the first quarter. Dimensional Fund Advisors LP now owns 97,681 shares of the basic materials company's stock worth $354,000 after buying an additional 30,878 shares during the last quarter. Simon Quick Advisors LLC bought a new position in AlTi Global during the first quarter valued at approximately $94,000. XTX Topco Ltd bought a new position in AlTi Global during the fourth quarter valued at approximately $63,000. Finally, AQR Capital Management LLC lifted its stake in AlTi Global by 8.2% in the fourth quarter. AQR Capital Management LLC now owns 37,424 shares of the basic materials company's stock valued at $174,000 after acquiring an additional 2,824 shares during the last quarter. 3.57% of the stock is owned by hedge funds and other institutional investors.

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. It also provides trust and administration services, such as entity formation and management; creating or modifying trust instruments and administrative practices to meet beneficiary needs; corporate, trustee-executor, and fiduciary services; provision of directors and company secretarial services; administering entity ownership of intellectual property rights; advisory and administration services in connection with investments in marine and aviation assets; and administering entity ownership of fine art and collectibles.

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