AlTi Global (NASDAQ:ALTI) Trading Down 5.7% – Time to Sell?

AlTi Global, Inc. (NASDAQ:ALTI) shares fell 5.7% during trading on Thursday . The stock traded as low as $3.56 and last traded at $3.5540. 40,167 shares changed hands during trading, a decline of 74% from the average session volume of 152,865 shares. The stock had previously closed at $3.77.

Analysts Set New Price Targets

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

AlTi Global Stock Performance

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 company has a market cap of $521.33 million, a P/E ratio of -2.45 and a beta of 0.76. The firm has a 50 day moving average price of $3.68 and a 200-day moving average price of $4.14.

Institutional Investors Weigh In On AlTi Global

Large investors have recently added to or reduced their stakes in the stock. Invesco Ltd. raised its position in shares of AlTi Global by 262.9% in the first quarter. Invesco Ltd. now owns 37,900 shares of the basic materials company’s stock valued at $115,000 after purchasing an additional 27,455 shares during the period. AQR Capital Management LLC bought a new stake in shares of AlTi Global during the 1st quarter worth $42,000. 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 worth $5,390,000 after buying an additional 170,951 shares during the period. The Manufacturers Life Insurance Company grew its stake in AlTi Global by 25.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 18,157 shares of the basic materials company’s stock valued at $75,000 after buying an additional 3,679 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in AlTi Global by 15.4% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,280 shares of the basic materials company’s stock valued at $97,000 after buying an additional 3,109 shares during the last quarter. 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.