AlTi Global (NASDAQ:ALTI) Shares Gap Down – Here’s What Happened

AlTi Global, Inc. (NASDAQ:ALTI) shares gapped down before the market opened on Monday . The stock had previously closed at $4.23, but opened at $4.07. AlTi Global shares last traded at $4.0750, with a volume of 2,056 shares traded.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on ALTI. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of AlTi Global in a research note on Wednesday, October 8th. Zacks Research upgraded shares of AlTi Global from a “strong sell” rating to a “hold” rating in a research report on Monday, October 6th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Reduce”.

AlTi Global Stock Up 0.2%

The company’s 50-day moving average is $4.38 and its 200-day moving average is $4.16. The stock has a market capitalization of $602.74 million, a price-to-earnings ratio of -2.27 and a beta of 0.75.

AlTi Global (NASDAQ:ALTI) last posted its quarterly earnings results on Thursday, April 20th. The basic materials company reported ($0.11) earnings per share for the quarter. The firm had revenue of ($18.58) million during the quarter. AlTi Global had a negative net margin of 71.93% and a negative return on equity of 6.77%. Sell-side analysts anticipate that AlTi Global, Inc. will post -0.14 EPS for the current year.

Institutional Investors Weigh In On AlTi Global

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ALTI. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of AlTi Global by 15.4% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,280 shares of the basic materials company’s stock worth $97,000 after purchasing an additional 3,109 shares during the period. The Manufacturers Life Insurance Company lifted its position in AlTi Global by 25.4% in the second 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. BNP Paribas Financial Markets boosted its stake in AlTi Global by 110.4% during the third quarter. BNP Paribas Financial Markets now owns 8,729 shares of the basic materials company’s stock worth $31,000 after buying an additional 4,581 shares during the period. Tower Research Capital LLC TRC increased its position in shares of AlTi Global by 158.4% during the second quarter. Tower Research Capital LLC TRC now owns 9,644 shares of the basic materials company’s stock valued at $40,000 after acquiring an additional 5,912 shares during the last quarter. Finally, Bank of America Corp DE raised its stake in shares of AlTi Global by 28.2% in the 3rd quarter. Bank of America Corp DE now owns 31,553 shares of the basic materials company’s stock valued at $112,000 after acquiring an additional 6,938 shares during the period. Hedge funds and other 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. 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.