AlTi Global (NASDAQ:ALTI) Trading Up 6.4% – Here’s What Happened

AlTi Global, Inc. (NASDAQ:ALTI) shot up 6.4% during trading on Tuesday . The stock traded as high as $3.89 and last traded at $3.8850. 50,051 shares traded hands during trading, a decline of 72% from the average daily volume of 180,231 shares. The stock had previously closed at $3.65.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of AlTi Global in a report on Monday, April 20th. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce”.

AlTi Global Stock Performance

The company has a debt-to-equity ratio of 0.03, a current ratio of 0.95 and a quick ratio of 0.95. The stock has a market cap of $582.22 million, a price-to-earnings ratio of -2.72 and a beta of 0.71. The stock’s 50-day moving average is $3.36 and its 200 day moving average is $3.92.

Institutional Trading of AlTi Global

Large investors have recently modified their holdings of the business. Yorkville Advisors Global LP purchased a new position in shares of AlTi Global during the 3rd quarter worth $1,593,000. Geode Capital Management LLC raised its stake in shares of AlTi Global by 15.2% in the 2nd quarter. Geode Capital Management LLC now owns 1,298,545 shares of the basic materials company’s stock valued at $5,390,000 after acquiring an additional 170,951 shares during the period. State Street Corp lifted its stake in shares of AlTi Global by 8.4% during the fourth quarter. State Street Corp now owns 776,258 shares of the basic materials company’s stock worth $3,602,000 after purchasing an additional 60,177 shares in the last quarter. Citadel Advisors LLC purchased a new position in AlTi Global in the 3rd quarter worth approximately $126,000. Finally, Dimensional Fund Advisors LP grew its holdings in AlTi Global by 46.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 97,681 shares of the basic materials company’s stock valued at $354,000 after purchasing an additional 30,878 shares in the last quarter. 3.57% of the stock is currently owned by institutional investors and hedge funds.

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. 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.