AlTi Global (NASDAQ:ALTI) Shares Gap Down – Time to Sell?

AlTi Global, Inc. (NASDAQ:ALTI)’s share price gapped down prior to trading on Monday . The stock had previously closed at $4.01, but opened at $3.89. AlTi Global shares last traded at $3.97, with a volume of 22,085 shares trading hands.

Wall Street Analyst Weigh In

ALTI has been the topic of a number of recent analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of AlTi Global in a research report on Friday, July 17th. Zacks Research cut AlTi Global from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 14th. Two equities research analysts have rated the stock with a Sell rating, According to data from MarketBeat.com, the stock has an average rating of “Sell”.

AlTi Global Trading Down 1.7%

The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.02. The company’s 50-day moving average price is $3.74 and its 200-day moving average price is $3.72. The firm has a market cap of $614.40 million, a price-to-earnings ratio of -2.83 and a beta of 0.71.

Institutional Trading of AlTi Global

A number of institutional investors have recently made changes to their positions in the company. Yorkville Advisors Global LP raised its position in shares of AlTi Global by 45.1% in the fourth quarter. Yorkville Advisors Global LP now owns 649,199 shares of the basic materials company’s stock valued at $3,012,000 after buying an additional 201,699 shares during the last quarter. GAM Holding AG acquired a new position in AlTi Global during the fourth quarter worth about $120,000. Millennium Management LLC acquired a new position in AlTi Global during the third quarter worth about $91,000. Bank of America Corp DE grew 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 acquiring an additional 6,938 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake 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 valued at $97,000 after acquiring an additional 3,109 shares in the last quarter. 3.57% of the stock is 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.