AlTi Global (NASDAQ:ALTI) Stock Price Down 7% – What’s Next?

AlTi Global, Inc. (NASDAQ:ALTI) dropped 7% on Wednesday . The company traded as low as $3.53 and last traded at $3.5330. Approximately 68,343 shares traded hands during mid-day trading, a decline of 53% from the average daily volume of 145,029 shares. The stock had previously closed at $3.80.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of AlTi Global in a research note on Wednesday, January 21st. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Reduce”.

AlTi Global Trading Down 5.1%

The firm has a 50 day moving average price of $4.35 and a 200-day moving average price of $4.19. The firm has a market cap of $528.68 million, a PE ratio of -1.99 and a beta of 0.76.

Institutional Trading of AlTi Global

Hedge funds and other institutional investors have recently bought and sold shares of the business. BNP Paribas Financial Markets boosted its position in shares of AlTi Global by 110.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 8,729 shares of the basic materials company’s stock worth $31,000 after acquiring an additional 4,581 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of AlTi Global by 158.4% in the 2nd 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. XTX Topco Ltd acquired a new stake in shares of AlTi Global during the 4th quarter worth about $63,000. AQR Capital Management LLC purchased a new stake in AlTi Global during the first quarter worth approximately $42,000. Finally, The Manufacturers Life Insurance Company lifted its stake in AlTi Global by 25.4% during the second quarter. The Manufacturers Life Insurance Company now owns 18,157 shares of the basic materials company’s stock worth $75,000 after purchasing an additional 3,679 shares during the last quarter. 3.57% of the stock is currently owned by institutional investors and hedge funds.

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. 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.