Short Interest in AlTi Global, Inc. (NASDAQ:ALTI) Decreases By 15.7%

Key Points

• Short interest in AlTi Global fell 15.7% to 1,436,224 shares as of April 15, representing about 1.1% of the stock and a days-to-cover ratio of 11.9 based on average volume.
• Analysts hold a negative view with a MarketBeat consensus rating of "Reduce" (one Hold, one Sell) and Weiss Ratings reiterating a "sell (D-)" on the shares.
• Several institutional investors raised positions (notably Allianz, Geode, State Street and Yorkville) though institutions own only about 3.57% of the stock; shares recently traded at $3.58, up ~1.0%, with a market cap of roughly $538.7M.

AlTi Global, Inc. (NASDAQ:ALTI - Get Free Report) saw a large decrease in short interest in April. As of April 15th, there was short interest totaling 1,436,224 shares, a decrease of 15.7% from the March 31st total of 1,703,562 shares. Currently, 1.1% of the company's stock are sold short. Based on an average trading volume of 120,626 shares, the days-to-cover ratio is currently 11.9 days.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a "sell (d-)" rating on shares of AlTi Global in a research note on Monday, April 20th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, AlTi Global has a consensus rating of "Reduce".

Hedge Funds Weigh In On AlTi Global

A number of hedge funds have recently modified their holdings of the stock. Allianz SE raised its holdings in shares of AlTi Global by 7.9% in the 3rd quarter. Allianz SE now owns 20,841,870 shares of the basic materials company's stock worth $74,197,000 after buying an additional 1,523,289 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of AlTi Global by 15.2% in the 2nd quarter. Geode Capital Management LLC now owns 1,298,545 shares of the basic materials company's stock worth $5,390,000 after buying an additional 170,951 shares in the last quarter. State Street Corp raised its holdings in shares of AlTi Global by 8.4% in the 4th quarter. State Street Corp now owns 776,258 shares of the basic materials company's stock worth $3,602,000 after buying an additional 60,177 shares in the last quarter. Yorkville Advisors Global LP raised its holdings in shares of AlTi Global by 45.1% in the 4th quarter. Yorkville Advisors Global LP now owns 649,199 shares of the basic materials company's stock worth $3,012,000 after buying an additional 201,699 shares in the last quarter. Finally, Prescott Group Capital Management L.L.C. acquired a new position in shares of AlTi Global in the 3rd quarter worth approximately $1,039,000. 3.57% of the stock is owned by institutional investors and hedge funds.

AlTi Global Stock Up 1.0%

AlTi Global stock traded up $0.04 during trading hours on Friday, hitting $3.58. The stock had a trading volume of 24,166 shares, compared to its average volume of 153,079. The company has a 50-day moving average of $3.88 and a two-hundred day moving average of $4.15. The company has a market cap of $538.65 million, a PE ratio of -2.59 and a beta of 0.83. AlTi Global has a fifty-two week low of $2.96 and a fifty-two week high of $5.45.

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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