AlTi Global (NASDAQ:ALTI) Shares Up 6.7%

AlTi Global, Inc. (NASDAQ:ALTI) shares rose 6.7% during trading on Monday . The stock traded as high as $3.82 and last traded at $3.80. Approximately 11,773 shares traded hands during mid-day trading, a decline of 92% from the average daily volume of 138,894 shares. The stock had previously closed at $3.56.

AlTi Global Price Performance

The business’s 50 day moving average is $4.35 and its two-hundred day moving average is $4.86. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.57 and a current ratio of 1.57. The firm has a market capitalization of $469.23 million, a PE ratio of -2.14 and a beta of 0.68.

AlTi Global (NASDAQ:ALTI) last posted its quarterly earnings results on Friday, August 9th. The basic materials company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.02). AlTi Global had a positive return on equity of 7.36% and a negative net margin of 50.54%. The company had revenue of $49.45 million during the quarter, compared to the consensus estimate of $51.80 million. Equities research analysts anticipate that AlTi Global, Inc. will post -0.02 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, major shareholder Holdings Ilwaddi purchased 27,515 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The shares were purchased at an average cost of $3.79 per share, for a total transaction of $104,281.85. Following the completion of the transaction, the insider now directly owns 18,012,099 shares in the company, valued at approximately $68,265,855.21. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, COO Kevin P. Moran sold 137,500 shares of AlTi Global stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $4.00, for a total transaction of $550,000.00. Following the completion of the sale, the chief operating officer now owns 27,637 shares of the company’s stock, valued at $110,548. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Holdings Ilwaddi bought 27,515 shares of AlTi Global stock in a transaction that occurred on Tuesday, August 13th. The shares were acquired at an average price of $3.79 per share, with a total value of $104,281.85. Following the completion of the transaction, the insider now owns 18,012,099 shares of the company’s stock, valued at $68,265,855.21. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 62,743 shares of company stock worth $246,572 and sold 175,056 shares worth $717,784. 22.14% of the stock is owned by corporate insiders.

Institutional Trading of AlTi Global

Large investors have recently modified their holdings of the business. Vanguard Group Inc. raised its stake in AlTi Global by 213.4% in the first 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 in the last quarter. Swiss National Bank increased its holdings in shares of AlTi Global by 9.4% in the 4th quarter. Swiss National Bank now owns 55,867 shares of the basic materials company’s stock worth $489,000 after buying an additional 4,800 shares during the last quarter. Simon Quick Advisors LLC purchased a new stake in shares of AlTi Global during the 2nd quarter valued at $214,000. The Manufacturers Life Insurance Company bought a new stake in shares of AlTi Global during the 2nd quarter worth $76,000. Finally, Rhumbline Advisers grew its position in AlTi Global by 109.2% in the second quarter. Rhumbline Advisers now owns 37,443 shares of the basic materials company’s stock worth $195,000 after acquiring an additional 19,547 shares in the last quarter. Institutional investors 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.