AlTi Global (NASDAQ:ALTI) Shares Gap Up – Here’s Why

AlTi Global, Inc. (NASDAQ:ALTI) gapped up before the market opened on Tuesday . The stock had previously closed at $3.00, but opened at $3.32. AlTi Global shares last traded at $3.3650, with a volume of 95,314 shares traded.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Zacks Research cut shares of AlTi Global from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 14th. Weiss Ratings restated a “sell (d-)” rating on shares of AlTi Global in a research note on Friday, July 17th. Finally, Wall Street Zen downgraded shares of AlTi Global from a “hold” rating to a “sell” rating in a research note on Saturday, September 5th. Two equities research analysts have rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Sell”.

AlTi Global Trading Down 5.3%

The business has a 50 day moving average of $3.77 and a two-hundred day moving average of $3.67. The firm has a market cap of $505.25 million, a P/E ratio of -2.33 and a beta of 0.72. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.02.

Institutional Trading of AlTi Global

Hedge funds have recently modified their holdings of the stock. BlueCrest Capital Management Ltd grew its position in shares of AlTi Global by 314.7% in the second quarter. BlueCrest Capital Management Ltd now owns 825,000 shares of the basic materials company’s stock valued at $2,978,000 after purchasing an additional 626,053 shares during the last quarter. Yorkville Advisors Global LP lifted its holdings in AlTi Global by 45.1% during the 4th quarter. Yorkville Advisors Global LP now owns 649,199 shares of the basic materials company’s stock worth $3,012,000 after purchasing an additional 201,699 shares during the last quarter. Squarepoint Ops LLC acquired a new stake in AlTi Global during the 2nd quarter worth approximately $637,000. Geode Capital Management LLC boosted its stake in 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 purchasing an additional 170,951 shares during the period. Finally, State Street Corp boosted its stake in AlTi Global by 8.4% in the 4th quarter. State Street Corp now owns 776,258 shares of the basic materials company’s stock valued at $3,602,000 after purchasing an additional 60,177 shares during the period. 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.