AlTi Global (NASDAQ:ALTI) Stock Price Down 5.3%

AlTi Global, Inc. (NASDAQ:ALTI) shares traded down 5.3% during trading on Tuesday . The company traded as low as $4.27 and last traded at $4.27. 11,611 shares were traded during trading, a decline of 91% from the average session volume of 123,625 shares. The stock had previously closed at $4.51.

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 objective for the company in a research report on Thursday, January 25th.

AlTi Global Price Performance

The firm has a market cap of $564.43 million, a price-to-earnings ratio of -1.41 and a beta of 0.60. The stock’s 50-day moving average price is $5.69 and its 200 day moving average price is $6.72. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.24.

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

Insider Activity at AlTi Global

In other AlTi Global news, Director Mark F. Furlong bought 25,000 shares of the stock in a transaction that occurred on Tuesday, April 2nd. The shares were acquired at an average price of $5.43 per share, with a total value of $135,750.00. Following the completion of the purchase, the director now directly owns 25,000 shares in the company, valued at approximately $135,750. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Mark F. Furlong acquired 25,000 shares of the firm’s stock in a transaction on Tuesday, April 2nd. The shares were purchased at an average cost of $5.43 per share, with a total value of $135,750.00. Following the completion of the purchase, the director now owns 25,000 shares of the company’s stock, valued at $135,750. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Cayman Holdings Ilwaddi acquired 20,000 shares of the firm’s 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 completion of the purchase, the insider now directly owns 17,913,265 shares of the company’s stock, valued at approximately $92,253,314.75. The disclosure for this purchase can be found here. 27.50% of the stock is currently owned by insiders.

Institutional Trading of AlTi Global

Several large investors have recently added to or reduced their stakes in ALTI. Citigroup Inc. acquired a new position in shares of AlTi Global during the first quarter worth approximately $56,000. Cubist Systematic Strategies LLC acquired a new position in shares of AlTi Global during the first quarter worth approximately $63,000. Deutsche Bank AG acquired a new position in shares of AlTi Global during the third quarter worth approximately $57,000. Wells Fargo & Company MN lifted its position in shares of AlTi Global by 5,430.2% during the second quarter. Wells Fargo & Company MN now owns 8,793 shares of the basic materials company’s stock worth $67,000 after purchasing an additional 8,634 shares in the last quarter. Finally, Barclays PLC acquired a new position in shares of AlTi Global during the first quarter worth approximately $116,000. 3.57% of the stock is owned by institutional investors.

About AlTi Global

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.