AlTi Global, Inc. (NASDAQ:ALTI) Short Interest Down 13.3% in June

AlTi Global, Inc. (NASDAQ:ALTI) was the target of a large drop in short interest in the month of June. As of June 15th, there was short interest totalling 591,700 shares, a drop of 13.3% from the May 31st total of 682,200 shares. Currently, 1.8% of the company’s shares are sold short. Based on an average daily volume of 131,100 shares, the days-to-cover ratio is currently 4.5 days.

Insider Activity at AlTi Global

In other AlTi Global news, major shareholder Holdings Ilwaddi acquired 20,000 shares of AlTi Global stock in a transaction that occurred on Thursday, June 6th. The stock was purchased at an average cost of $4.72 per share, with a total value of $94,400.00. Following the purchase, the insider now owns 17,984,584 shares in the company, valued at $84,887,236.48. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, major shareholder Holdings Ilwaddi purchased 20,000 shares of the business’s stock in a transaction dated Thursday, June 6th. The stock was bought at an average cost of $4.72 per share, with a total value of $94,400.00. Following the purchase, the insider now directly owns 17,984,584 shares of the company’s stock, valued at $84,887,236.48. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Michael Tiedemann purchased 60,000 shares of the business’s stock in a transaction dated Thursday, May 16th. The shares were purchased at an average cost of $4.66 per share, with a total value of $279,600.00. Following the completion of the purchase, the chief executive officer now directly owns 369,146 shares in the company, valued at $1,720,220.36. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 268,790 shares of company stock worth $1,290,301 and sold 29,725 shares worth $150,063. 22.14% of the stock is currently owned by corporate insiders.

Institutional Trading of AlTi Global

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in shares of 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 worth $9,021,000 after purchasing an additional 1,085,308 shares in the last quarter. Swiss National Bank grew its holdings in shares of AlTi Global by 15.4% during the 3rd quarter. Swiss National Bank now owns 51,067 shares of the basic materials company’s stock worth $355,000 after purchasing an additional 6,800 shares in the last quarter. Finally, Caprock Group LLC grew its holdings 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 purchasing an additional 3,950 shares in the last quarter. Institutional investors and hedge funds own 3.57% of the company’s stock.

AlTi Global Stock Up 6.1 %

Shares of NASDAQ ALTI traded up $0.30 during mid-day trading on Friday, reaching $5.21. 2,177,996 shares of the company traded hands, compared to its average volume of 180,442. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.33 and a current ratio of 2.33. The stock has a market cap of $625.25 million, a PE ratio of -2.85 and a beta of 0.69. The company’s fifty day moving average is $4.80 and its two-hundred day moving average is $5.78. AlTi Global has a fifty-two week low of $4.22 and a fifty-two week high of $9.22.

AlTi Global (NASDAQ:ALTI) last released its earnings results on Friday, May 10th. The basic materials company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.05). The business had revenue of $50.81 million during the quarter, compared to analyst estimates of $61.50 million. AlTi Global had a negative net margin of 29.75% and a positive return on equity of 7.45%. On average, analysts expect that AlTi Global will post -0.02 earnings per share for the current year.

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.