AlTi Global (NASDAQ:ALTI) Trading Down 5.8% – Here’s Why

AlTi Global, Inc. (NASDAQ:ALTI)’s share price traded down 5.8% on Tuesday . The stock traded as low as $3.87 and last traded at $3.87. 52,930 shares were traded during mid-day trading, a decline of 69% from the average session volume of 173,361 shares. The stock had previously closed at $4.11.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on ALTI shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of AlTi Global in a report on Wednesday, October 8th. Zacks Research raised AlTi Global from a “strong sell” rating to a “hold” rating in a research report on Monday, October 6th. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Reduce”.

AlTi Global Stock Performance

The business’s 50-day moving average price is $4.38 and its 200 day moving average price is $4.16. The company has a market cap of $571.20 million, a P/E ratio of -2.15 and a beta of 0.75.

Institutional Investors Weigh In On AlTi Global

Large investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. boosted its position in AlTi Global by 149.8% during the third quarter. JPMorgan Chase & Co. now owns 50,238 shares of the basic materials company’s stock worth $179,000 after purchasing an additional 30,125 shares during the period. Yorkville Advisors Global LP bought a new stake in shares of AlTi Global during the 3rd quarter worth about $1,593,000. Millennium Management LLC acquired a new position in AlTi Global in the 3rd quarter valued at about $91,000. Citadel Advisors LLC acquired a new position in AlTi Global in the 3rd quarter valued at about $126,000. Finally, Brevan Howard Capital Management LP raised its holdings in AlTi Global by 42.5% in the 3rd quarter. Brevan Howard Capital Management LP now owns 39,327 shares of the basic materials company’s stock valued at $138,000 after acquiring an additional 11,727 shares during the period. Institutional investors 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.