AlTi Global (NASDAQ:ALTI) Stock Price Down 5%

AlTi Global, Inc. (NASDAQ:ALTI) shares traded down 5% during mid-day trading on Friday . The stock traded as low as $4.56 and last traded at $4.57. 19,160 shares changed hands during trading, a decline of 84% from the average session volume of 121,336 shares. The stock had previously closed at $4.81.

Analysts Set New Price Targets

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

AlTi Global Price Performance

The company has a 50 day moving average of $5.42 and a 200 day moving average of $6.52. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.84 and a current ratio of 0.84. The stock has a market capitalization of $536.99 million, a price-to-earnings ratio of -1.41 and a beta of 0.69.

AlTi Global (NASDAQ:ALTI) last released its quarterly earnings data on Friday, March 15th. The basic materials company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.15). AlTi Global had a positive return on equity of 7.77% and a negative net margin of 67.99%. The business had revenue of $91.71 million for the quarter, compared to analyst estimates of $66.80 million. As a group, equities 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 AlTi Global news, major shareholder Cayman Holdings Ilwaddi bought 20,000 shares of the stock in a transaction dated Tuesday, April 2nd. The shares were acquired at an average cost of $5.15 per share, for a total transaction of $103,000.00. Following the completion of the transaction, the insider now owns 17,913,265 shares in the company, valued at approximately $92,253,314.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other AlTi Global news, major shareholder Cayman Holdings Ilwaddi acquired 20,000 shares of the stock in a transaction on Tuesday, April 2nd. The shares were bought at an average cost of $5.15 per share, with a total value of $103,000.00. Following the transaction, the insider now owns 17,913,265 shares of the company’s stock, valued at approximately $92,253,314.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Brooke Connell sold 15,000 shares of the company’s stock in a transaction dated 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 directly owns 190,772 shares of the company’s stock, valued at $967,214.04. The disclosure for this sale can be found here. 27.50% of the stock is currently owned by insiders.

Institutional Trading of AlTi Global

Several institutional investors and hedge funds have recently added to or reduced their stakes in ALTI. Mesirow Financial Investment Management Inc. raised its stake 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 acquiring an additional 15,642 shares during the last quarter. Swiss National Bank raised its stake 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 acquiring an additional 6,800 shares during the last quarter. Finally, Caprock Group LLC raised its stake in shares of AlTi Global by 11.3% during the 1st quarter. Caprock Group LLC now owns 38,928 shares of the basic materials company’s stock worth $220,000 after buying an additional 3,950 shares in 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.