AlTi Global, Inc. (NASDAQ:ALTI) Stock Position Lifted by Bank of America Corp DE

Bank of America Corp DE grew its holdings in shares of AlTi Global, Inc. (NASDAQ:ALTI) by 50.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 40,500 shares of the basic materials company’s stock after purchasing an additional 13,542 shares during the period. Bank of America Corp DE’s holdings in AlTi Global were worth $179,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Allianz SE acquired a new position in AlTi Global during the 4th quarter valued at about $85,581,000. Geode Capital Management LLC increased its stake in shares of AlTi Global by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 1,095,057 shares of the basic materials company’s stock valued at $4,831,000 after acquiring an additional 14,868 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in AlTi Global by 8.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 467,415 shares of the basic materials company’s stock worth $2,061,000 after purchasing an additional 34,798 shares in the last quarter. Northern Trust Corp lifted its position in AlTi Global by 2.5% in the fourth quarter. Northern Trust Corp now owns 336,209 shares of the basic materials company’s stock worth $1,483,000 after purchasing an additional 8,113 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in AlTi Global by 5.7% during the 4th quarter. Bank of New York Mellon Corp now owns 81,965 shares of the basic materials company’s stock valued at $361,000 after purchasing an additional 4,411 shares in the last quarter. 3.57% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised AlTi Global from a “strong sell” rating to a “hold” rating in a research note on Thursday, May 22nd.

AlTi Global Price Performance

NASDAQ:ALTI opened at $3.92 on Monday. The company has a quick ratio of 4.05, a current ratio of 4.05 and a debt-to-equity ratio of 0.17. The business’s 50-day moving average price is $3.35 and its 200 day moving average price is $3.63. AlTi Global, Inc. has a 52-week low of $2.33 and a 52-week high of $5.45. The firm has a market cap of $557.58 million, a P/E ratio of -2.24 and a beta of 0.72.

AlTi Global (NASDAQ:ALTI) last announced its quarterly earnings data on Thursday, March 13th. The basic materials company reported ($0.63) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.65). AlTi Global had a positive return on equity of 2.31% and a negative net margin of 41.51%. The business had revenue of $53.33 million during the quarter, compared to analyst estimates of $74.60 million. During the same period in the prior year, the firm earned ($0.88) EPS. As a group, sell-side analysts predict that AlTi Global, Inc. will post -0.14 earnings per share for the current fiscal year.

Insider Activity at AlTi Global

In related news, insider Brooke Connell sold 21,462 shares of AlTi Global stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $3.47, for a total value of $74,473.14. Following the transaction, the insider now owns 216,389 shares of the company’s stock, valued at approximately $750,869.83. This trade represents a 9.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Colleen A. Graham sold 22,934 shares of the business’s stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $3.47, for a total value of $79,580.98. Following the sale, the insider now owns 41,960 shares in the company, valued at approximately $145,601.20. The trade was a 35.34% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 115,104 shares of company stock valued at $399,411 over the last ninety days. Insiders own 10.49% of the company’s stock.

AlTi Global 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.