AlTi Global (NASDAQ:ALTI) Shares Up 3.4%

AlTi Global, Inc. (NASDAQ:ALTI)’s stock price rose 3.4% during trading on Wednesday . The stock traded as high as $4.58 and last traded at $4.55. Approximately 2,141 shares were traded during mid-day trading, a decline of 98% from the average daily volume of 123,079 shares. The stock had previously closed at $4.40.

Analysts Set New Price Targets

Separately, Raymond James upgraded 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 note on Thursday, January 25th.

AlTi Global Stock Up 6.8 %

The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.24. The stock has a 50 day simple moving average of $5.67 and a 200-day simple moving average of $6.70.

AlTi Global (NASDAQ:ALTI) last issued its quarterly earnings results on Friday, March 15th. The basic materials company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $66.80 million. Analysts expect that AlTi Global, Inc. will post 0.27 EPS for the current year.

Insiders Place Their Bets

In other AlTi Global news, insider Brooke Connell sold 15,000 shares of the 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 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Brooke Connell sold 15,000 shares of the stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $5.07, for a total value of $76,050.00. Following the completion of the transaction, the insider now owns 190,772 shares of the company’s stock, valued at approximately $967,214.04. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Mark F. Furlong purchased 25,000 shares of the stock in a transaction that occurred on Tuesday, April 2nd. The stock was acquired at an average cost of $5.43 per share, with a total value of $135,750.00. Following the acquisition, the director now owns 25,000 shares in the company, valued at approximately $135,750. The disclosure for this purchase can be found here. 27.50% of the stock is currently owned by company insiders.

Institutional Trading of AlTi Global

Institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. increased its position in shares of AlTi Global by 313.6% during the second quarter. BlackRock Inc. now owns 1,281,683 shares of the basic materials company’s stock worth $9,818,000 after acquiring an additional 971,771 shares during the period. Vanguard Group Inc. increased its position in shares of AlTi Global by 8.8% during the fourth quarter. Vanguard Group Inc. now owns 508,464 shares of the basic materials company’s stock worth $4,454,000 after acquiring an additional 41,042 shares during the period. Geode Capital Management LLC increased its position in shares of AlTi Global by 88.4% during the second quarter. Geode Capital Management LLC now owns 449,095 shares of the basic materials company’s stock worth $3,440,000 after acquiring an additional 210,772 shares during the period. State Street Corp increased its position in shares of AlTi Global by 1,223.0% during the second quarter. State Street Corp now owns 341,330 shares of the basic materials company’s stock worth $2,615,000 after acquiring an additional 315,530 shares during the period. Finally, Susquehanna International Group LLP purchased a new position in AlTi Global during the first quarter valued at approximately $3,216,000. Institutional investors own 3.57% of the company’s stock.

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.