AlTi Global (NASDAQ:ALTI) Stock Price Down 5.4% – Here’s What Happened

AlTi Global, Inc. (NASDAQ:ALTI) shares fell 5.4% during trading on Monday . The company traded as low as $4.66 and last traded at $4.6150. 37,234 shares changed hands during trading, a decline of 72% from the average session volume of 131,062 shares. The stock had previously closed at $4.88.

Analyst Upgrades and Downgrades

Several research firms have weighed in on ALTI. Zacks Research raised AlTi Global from a “strong sell” rating to a “hold” rating in a research report on Monday, October 6th. Weiss Ratings restated a “sell (d-)” rating on shares of AlTi Global in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Reduce”.

AlTi Global Price Performance

The firm has a market cap of $680.47 million, a P/E ratio of -2.56 and a beta of 0.77. The firm’s 50 day moving average is $4.14 and its 200 day moving average is $4.09.

AlTi Global (NASDAQ:ALTI) last announced its earnings results on Thursday, April 20th. The basic materials company reported ($0.11) earnings per share for the quarter. AlTi Global had a negative net margin of 71.93% and a negative return on equity of 6.77%. The business had revenue of ($18.58) million for the quarter. As a group, analysts expect that AlTi Global, Inc. will post -0.14 EPS for the current year.

Institutional Investors Weigh In On AlTi Global

A number of institutional investors have recently modified their holdings of ALTI. Yorkville Advisors Global LP bought a new stake in shares of AlTi Global in the third quarter worth approximately $1,593,000. Millennium Management LLC purchased a new stake in AlTi Global in the third quarter worth approximately $91,000. Citadel Advisors LLC bought a new stake in AlTi Global in the 3rd quarter worth approximately $126,000. Brevan Howard Capital Management LP raised its stake in AlTi Global by 42.5% during the 3rd quarter. Brevan Howard Capital Management LP now owns 39,327 shares of the basic materials company’s stock valued at $138,000 after buying an additional 11,727 shares during the last quarter. Finally, Bank of America Corp DE raised its stake in AlTi Global by 28.2% during the 3rd quarter. Bank of America Corp DE now owns 31,553 shares of the basic materials company’s stock valued at $112,000 after buying an additional 6,938 shares during 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. It also provides trust and administration services, such as entity formation and management; creating or modifying trust instruments and administrative practices to meet beneficiary needs; corporate, trustee-executor, and fiduciary services; provision of directors and company secretarial services; administering entity ownership of intellectual property rights; advisory and administration services in connection with investments in marine and aviation assets; and administering entity ownership of fine art and collectibles.