AlTi Global (NASDAQ:ALTI) Trading Down 4.4%

Shares of AlTi Global, Inc. (NASDAQ:ALTI) fell 4.4% on Friday . The stock traded as low as $4.72 and last traded at $4.77. 24,751 shares were traded during mid-day trading, a decline of 80% from the average session volume of 125,222 shares. The stock had previously closed at $4.99.

Wall Street Analysts Forecast Growth

Separately, Raymond James upgraded AlTi Global from a “market perform” rating to a “strong-buy” rating and set a $9.00 price objective on the stock in a research note on Thursday, January 25th.

AlTi Global Stock Down 4.8 %

The firm has a market capitalization of $566.82 million, a price-to-earnings ratio of -1.48 and a beta of 0.60. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.24. The firm has a fifty day moving average price of $5.55 and a 200 day moving average price of $6.60.

AlTi Global (NASDAQ:ALTI) last announced its earnings results on Friday, March 15th. The basic materials company reported ($0.13) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.15). The business had revenue of $91.71 million during the quarter, compared to analyst estimates of $66.80 million. AlTi Global had a positive return on equity of 7.77% and a negative net margin of 67.99%. Sell-side analysts anticipate that AlTi Global, Inc. will post 0.27 EPS for the current fiscal year.

Insider Transactions at AlTi Global

In other news, insider Brooke Connell sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $5.07, for a total value of $76,050.00. Following the transaction, the insider now directly owns 190,772 shares of the company’s stock, valued at approximately $967,214.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other AlTi Global news, insider Brooke Connell sold 15,000 shares of the company’s stock in a transaction 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 transaction, the insider now owns 190,772 shares of the company’s stock, valued at approximately $967,214.04. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, major shareholder Cayman Holdings Ilwaddi acquired 20,000 shares of AlTi Global stock in a transaction on Tuesday, April 2nd. The shares were purchased at an average cost of $5.15 per share, for a total transaction of $103,000.00. Following the acquisition, the insider now owns 17,913,265 shares in the company, valued at approximately $92,253,314.75. The disclosure for this purchase can be found here. 27.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in AlTi Global stock. Mesirow Financial Investment Management Inc. grew its stake in AlTi Global, Inc. (NASDAQ:ALTI) by 78.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 35,666 shares of the basic materials company’s stock after purchasing an additional 15,642 shares during the quarter. Mesirow Financial Investment Management Inc.’s holdings in AlTi Global were worth $248,000 at the end of the most recent reporting period. 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.