AlTi Global (NASDAQ:ALTI) Trading 4.2% Higher – Still a Buy?

AlTi Global, Inc. (NASDAQ:ALTI) rose 4.2% on Tuesday . The company traded as high as $4.52 and last traded at $4.51. Approximately 32,447 shares traded hands during trading, a decline of 78% from the average daily volume of 148,848 shares. The stock had previously closed at $4.33.

AlTi Global Stock Up 3.5 %

The company has a market capitalization of $626.42 million, a price-to-earnings ratio of -2.64 and a beta of 0.72. The company has a debt-to-equity ratio of 0.17, a current ratio of 4.05 and a quick ratio of 4.05. The firm’s fifty day moving average price is $4.30 and its 200-day moving average price is $4.37.

Insider Activity

In related news, major shareholder Tiedemann Advisors, Llc bought 306,127 shares of the stock in a transaction that occurred on Tuesday, October 1st. The stock was acquired at an average cost of $10.13 per share, with a total value of $3,101,066.51. Following the transaction, the insider now directly owns 6,485,038 shares in the company, valued at approximately $65,693,434.94. This trade represents a 4.95 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 22.14% of the company’s stock.

Institutional Investors Weigh In On AlTi Global

A number of institutional investors have recently made changes to their positions in ALTI. SG Americas Securities LLC bought a new position in shares of AlTi Global during the third quarter worth about $63,000. The Manufacturers Life Insurance Company bought a new position in AlTi Global during the 2nd quarter worth approximately $76,000. MetLife Investment Management LLC lifted its position in shares of AlTi Global by 129.1% in the 3rd quarter. MetLife Investment Management LLC now owns 21,002 shares of the basic materials company’s stock worth $79,000 after purchasing an additional 11,834 shares during the period. CV Advisors LLC bought a new stake in shares of AlTi Global in the 3rd quarter valued at $85,000. Finally, Barclays PLC boosted its stake in shares of AlTi Global by 264.8% in the 3rd quarter. Barclays PLC now owns 44,457 shares of the basic materials company’s stock valued at $167,000 after purchasing an additional 32,269 shares during 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.