AlTi Global (NASDAQ:ALTI) Sees Large Volume Increase – Time to Buy?

Shares of AlTi Global, Inc. (NASDAQ:ALTI) saw unusually-strong trading volume on Friday . Approximately 333,350 shares were traded during mid-day trading, an increase of 88% from the previous session’s volume of 177,108 shares.The stock last traded at $3.7450 and had previously closed at $3.84.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of AlTi Global in a research report on Friday, July 17th. Zacks Research cut shares of AlTi Global from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 14th. Two analysts have rated the stock with a Sell rating, According to data from MarketBeat, AlTi Global currently has an average rating of “Sell”.

AlTi Global Trading Down 0.3%

The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.97 and a current ratio of 0.97. The company has a market capitalization of $597.25 million, a price-to-earnings ratio of -2.76 and a beta of 0.72. The firm has a fifty day moving average price of $3.80 and a 200-day moving average price of $3.70.

Institutional Investors Weigh In On AlTi Global

A number of large investors have recently bought and sold shares of the company. BNP Paribas Financial Markets increased its holdings in AlTi Global by 110.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 8,729 shares of the basic materials company’s stock valued at $31,000 after buying an additional 4,581 shares during the period. Tower Research Capital LLC TRC boosted its position in shares of AlTi Global by 158.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 9,644 shares of the basic materials company’s stock worth $40,000 after acquiring an additional 5,912 shares in the last quarter. AQR Capital Management LLC bought a new position in AlTi Global in the first quarter valued at approximately $42,000. XTX Topco Ltd acquired a new position in AlTi Global during the fourth quarter valued at approximately $63,000. Finally, The Manufacturers Life Insurance Company lifted its stake in AlTi Global by 25.4% during the second quarter. The Manufacturers Life Insurance Company now owns 18,157 shares of the basic materials company’s stock worth $75,000 after purchasing an additional 3,679 shares during the last quarter. 3.57% of the stock is currently owned by institutional investors and hedge funds.

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.