AlTi Global (NASDAQ:ALTI) Shares Down 5.4% – Here’s Why

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

Analyst Upgrades and Downgrades

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

AlTi Global Stock Up 2.2%

The business’s fifty day moving average price is $4.18 and its 200 day moving average price is $4.11. The firm has a market capitalization of $701.72 million, a PE ratio of -2.64 and a beta of 0.77.

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

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Allianz SE increased its position in AlTi Global by 7.9% during the third quarter. Allianz SE now owns 20,841,870 shares of the basic materials company’s stock worth $74,197,000 after purchasing an additional 1,523,289 shares during the last quarter. Yorkville Advisors Global LP acquired a new stake in shares of AlTi Global during the 3rd quarter worth $1,593,000. George Kaiser Family Foundation purchased a new position in shares of AlTi Global in the 3rd quarter worth $1,039,000. Prescott Group Capital Management L.L.C. acquired a new position in AlTi Global in the third quarter valued at $1,039,000. Finally, Geode Capital Management LLC grew its position in AlTi Global by 15.2% during the second 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. 3.57% of the stock is currently owned by hedge funds and other institutional investors.

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.