AlTi Global (NASDAQ:ALTI) Shares Gap Up – What’s Next?

AlTi Global, Inc. (NASDAQ:ALTI) shares gapped up prior to trading on Tuesday . The stock had previously closed at $3.00, but opened at $3.32. AlTi Global shares last traded at $3.3650, with a volume of 95,314 shares changing hands.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Zacks Research downgraded AlTi Global from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 14th. Wall Street Zen cut AlTi Global from a “hold” rating to a “sell” rating in a research note on Saturday. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of AlTi Global in a report on Friday, July 17th. Two investment analysts have rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Sell”.

AlTi Global Price Performance

The company’s 50 day moving average price is $3.78 and its 200-day moving average price is $3.68. The company has a market cap of $521.78 million, a price-to-earnings ratio of -2.41 and a beta of 0.72. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.97 and a current ratio of 0.97.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Yorkville Advisors Global LP increased its holdings in shares of AlTi Global by 19.1% in 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 buying an additional 123,801 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of AlTi Global by 46.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 97,681 shares of the basic materials company’s stock worth $354,000 after acquiring an additional 30,878 shares in the last quarter. Simon Quick Advisors LLC bought a new stake in shares of AlTi Global during the 1st quarter worth $94,000. XTX Topco Ltd acquired a new position in shares of AlTi Global in the 4th quarter worth $63,000. Finally, AQR Capital Management LLC grew its holdings in shares of AlTi Global by 8.2% in the 4th quarter. AQR Capital Management LLC now owns 37,424 shares of the basic materials company’s stock worth $174,000 after acquiring an additional 2,824 shares during the last quarter. Institutional investors and hedge funds 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.