AlTi Global (NASDAQ:ALTI) Shares Gap Down – Should You Sell?

AlTi Global, Inc. (NASDAQ:ALTI) gapped down prior to trading on Tuesday . The stock had previously closed at $4.30, but opened at $3.89. AlTi Global shares last traded at $4.0210, with a volume of 27,330 shares.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on ALTI. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of AlTi Global in a research report on Friday, July 17th. Zacks Research downgraded shares of 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 MarketBeat, the stock presently has a consensus rating of “Sell”.

AlTi Global Trading Up 1.5%

The stock has a fifty day simple moving average of $3.48 and a 200 day simple moving average of $3.77. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.95 and a current ratio of 0.95. The firm has a market cap of $626.19 million, a P/E ratio of -2.97 and a beta of 0.71.

Hedge Funds Weigh In On AlTi Global

A number of hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC boosted its holdings in shares of AlTi Global by 15.2% during 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 acquiring an additional 170,951 shares during the last quarter. State Street Corp grew its stake in shares of AlTi Global by 8.4% in the fourth quarter. State Street Corp now owns 776,258 shares of the basic materials company’s stock worth $3,602,000 after acquiring an additional 60,177 shares during the period. Yorkville Advisors Global LP raised its holdings in shares of AlTi Global by 19.1% during the first quarter. Yorkville Advisors Global LP now owns 773,000 shares of the basic materials company’s stock valued at $2,798,000 after purchasing an additional 123,801 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of AlTi Global by 46.2% during the first quarter. Dimensional Fund Advisors LP now owns 97,681 shares of the basic materials company’s stock valued at $354,000 after purchasing an additional 30,878 shares during the last quarter. Finally, Barclays PLC lifted its position in AlTi Global by 11.6% during the fourth quarter. Barclays PLC now owns 67,567 shares of the basic materials company’s stock valued at $314,000 after purchasing an additional 7,011 shares during the period. Hedge funds and other 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.