AlTi Global (NASDAQ:ALTI) Shares Up 9.4% – Should You Buy?

AlTi Global, Inc. (NASDAQ:ALTI)’s stock price rose 9.4% on Thursday . The stock traded as high as $3.70 and last traded at $3.5650. Approximately 50,542 shares traded hands during trading, a decline of 67% from the average daily volume of 153,090 shares. The stock had previously closed at $3.26.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of AlTi Global in a research report on Monday, April 20th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, AlTi Global currently has a consensus rating of “Reduce”.

AlTi Global Price Performance

The company’s 50 day moving average price is $3.75 and its 200-day moving average price is $4.15. The company has a market capitalization of $536.39 million, a PE ratio of -2.53 and a beta of 0.76. The company has a current ratio of 0.95, a quick ratio of 0.83 and a debt-to-equity ratio of 0.03.

Institutional Investors Weigh In On AlTi Global

A number of hedge funds have recently bought and sold shares of ALTI. AQR Capital Management LLC grew its position in shares of AlTi Global by 8.2% during the fourth quarter. AQR Capital Management LLC now owns 37,424 shares of the basic materials company’s stock worth $174,000 after buying an additional 2,824 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in AlTi Global by 15.4% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,280 shares of the basic materials company’s stock worth $97,000 after acquiring an additional 3,109 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in shares of AlTi Global by 25.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 18,157 shares of the basic materials company’s stock worth $75,000 after purchasing an additional 3,679 shares during the last quarter. BNP Paribas Financial Markets increased its position in shares of AlTi Global by 110.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 8,729 shares of the basic materials company’s stock worth $31,000 after purchasing an additional 4,581 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in shares of AlTi Global by 8.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 63,707 shares of the basic materials company’s stock valued at $296,000 after purchasing an additional 5,178 shares in the last quarter. Institutional investors and hedge funds own 3.57% of the company’s stock.

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.