AlTi Global (NASDAQ:ALTI) Trading 9.3% Higher – Time to Buy?

AlTi Global, Inc. (NASDAQ:ALTI)’s share price traded up 9.3% on Wednesday . The company traded as high as $3.38 and last traded at $3.42. 335,189 shares changed hands during mid-day trading, an increase of 106% from the average session volume of 162,997 shares. The stock had previously closed at $3.13.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of AlTi Global in a research note on Monday, April 20th. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, AlTi Global currently has a consensus rating of “Reduce”.

AlTi Global Price Performance

The company’s 50 day moving average price is $3.61 and its 200-day moving average price is $4.12. The stock has a market cap of $497.01 million, a P/E ratio of -2.32 and a beta of 0.76. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.03.

Hedge Funds Weigh In On AlTi Global

Several large investors have recently modified their holdings of the business. Allianz SE raised its stake 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 buying an additional 1,523,289 shares during the last quarter. Yorkville Advisors Global LP bought a new position in AlTi Global during the third quarter worth $1,593,000. George Kaiser Family Foundation bought a new position in AlTi Global during the third quarter worth $1,039,000. Prescott Group Capital Management L.L.C. bought a new position in AlTi Global during the third quarter worth $1,039,000. Finally, Stratos Wealth Partners LTD. bought a new position in AlTi Global during the third quarter worth $107,000. Institutional investors own 3.57% of the company’s stock.

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.