Insider Buying: AlTi Global, Inc. (NASDAQ:ALTI) CEO Acquires 60,000 Shares of Stock

AlTi Global, Inc. (NASDAQ:ALTI) CEO Michael Tiedemann bought 60,000 shares of the firm’s stock in a transaction dated Thursday, May 16th. The shares were acquired at an average price of $4.66 per share, for a total transaction of $279,600.00. Following the completion of the transaction, the chief executive officer now directly owns 369,146 shares in the company, valued at approximately $1,720,220.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Michael Tiedemann also recently made the following trade(s):

• On Monday, May 20th, Michael Tiedemann acquired 40,000 shares of AlTi Global stock. The shares were bought at an average price of $4.54 per share, for a total transaction of $181,600.00.

AlTi Global Stock Performance

Shares of AlTi Global stock opened at $4.77 on Thursday. The company has a market capitalization of $572.45 million, a PE ratio of -2.61 and a beta of 0.69. AlTi Global, Inc. has a 52 week low of $4.07 and a 52 week high of $9.22. The company has a quick ratio of 2.33, a current ratio of 2.33 and a debt-to-equity ratio of 0.23. The stock’s fifty day moving average is $5.01 and its two-hundred day moving average is $6.35.

AlTi Global (NASDAQ:ALTI) last announced its quarterly earnings data on Friday, March 15th. The basic materials company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.15). AlTi Global had a negative net margin of 29.75% and a positive return on equity of 7.45%. The company had revenue of $91.71 million for the quarter, compared to the consensus estimate of $66.80 million. As a group, analysts expect that AlTi Global, Inc. will post 0.27 earnings per share for the current year.

Institutional Investors Weigh In On AlTi Global

A number of institutional investors and hedge funds have recently bought and sold shares of ALTI. Caprock Group LLC grew its position in shares of AlTi Global by 11.3% during the 1st quarter. Caprock Group LLC now owns 38,928 shares of the basic materials company’s stock worth $220,000 after buying an additional 3,950 shares in the last quarter. Swiss National Bank lifted its stake in AlTi Global by 9.4% in the fourth quarter. Swiss National Bank now owns 55,867 shares of the basic materials company’s stock worth $489,000 after acquiring an additional 4,800 shares during the period. Mesirow Financial Investment Management Inc. grew its holdings in AlTi Global by 78.1% during the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 35,666 shares of the basic materials company’s stock worth $248,000 after acquiring an additional 15,642 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in AlTi Global by 213.4% during the 1st quarter. Vanguard Group Inc. now owns 1,593,772 shares of the basic materials company’s stock valued at $9,021,000 after purchasing an additional 1,085,308 shares during the period. 3.57% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, Raymond James raised AlTi Global from a “market perform” rating to a “strong-buy” rating and set a $9.00 target price on the stock in a research report on Thursday, January 25th.

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.