AlTi Global (NASDAQ:ALTI) Trading Up 9.1%

Shares of AlTi Global, Inc. (NASDAQ:ALTI) shot up 9.1% on Wednesday . The stock traded as high as $5.09 and last traded at $4.81. 102,500 shares traded hands during mid-day trading, a decline of 13% from the average session volume of 117,450 shares. The stock had previously closed at $4.41.

Wall Street Analysts Forecast Growth

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

AlTi Global Price Performance

The company has a 50-day moving average price of $5.03 and a 200 day moving average price of $6.36. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.33 and a quick ratio of 2.33.

AlTi Global (NASDAQ:ALTI) last released its quarterly 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 firm had revenue of $91.71 million for the quarter, compared to analysts’ expectations of $66.80 million. AlTi Global had a negative net margin of 29.75% and a positive return on equity of 7.45%. Research analysts expect that AlTi Global, Inc. will post 0.27 earnings per share for the current year.

Insider Transactions at AlTi Global

In related news, Director Mark F. Furlong acquired 25,000 shares of the company’s stock in a transaction dated 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 acquisition, the director now directly 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 link. In related news, insider Timothy F. Keaney acquired 16,417 shares of the stock in a transaction on Thursday, May 16th. The shares were bought at an average price of $4.60 per share, with a total value of $75,518.20. Following the completion of the purchase, the insider now owns 97,321 shares of the company’s stock, valued at approximately $447,676.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mark F. Furlong purchased 25,000 shares of the stock in a transaction dated Tuesday, April 2nd. The shares were purchased at an average cost of $5.43 per share, for a total transaction of $135,750.00. Following the transaction, the director now owns 25,000 shares in the company, valued at approximately $135,750. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 161,417 shares of company stock valued at $775,468. Corporate insiders own 22.14% of the company’s stock.

Hedge Funds Weigh In On AlTi Global

Several institutional investors and hedge funds have recently bought and sold shares of ALTI. Mesirow Financial Investment Management Inc. lifted its holdings in AlTi Global by 78.1% in the third 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. Caprock Group LLC grew its holdings 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 purchasing an additional 3,950 shares during the period. Swiss National Bank increased its position in shares of AlTi Global by 15.4% during the 3rd quarter. Swiss National Bank now owns 51,067 shares of the basic materials company’s stock worth $355,000 after purchasing an additional 6,800 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in AlTi Global by 213.4% in the 1st quarter. Vanguard Group Inc. now owns 1,593,772 shares of the basic materials company’s stock valued at $9,021,000 after buying an additional 1,085,308 shares during the period. 3.57% of the stock is currently owned by institutional investors and hedge funds.

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.