AlTi Global (NASDAQ:ALTI) Stock Price Up 9.3% – Should You Buy?

Shares of AlTi Global, Inc. (NASDAQ:ALTI) were up 9.3% during mid-day trading on Wednesday . The company traded as high as $3.38 and last traded at $3.42. Approximately 335,189 shares changed hands during mid-day trading, an increase of 106% from the average daily volume of 162,997 shares. The stock had previously closed at $3.13.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of AlTi Global in a report on Monday, April 20th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce”.

AlTi Global Price Performance

The stock has a market capitalization of $521.41 million, a PE ratio of -2.44 and a beta of 0.76. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.03. The company’s 50 day simple moving average is $3.63 and its 200 day simple moving average is $4.13.

Hedge Funds Weigh In On AlTi Global

Several institutional investors have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets lifted its position 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 stake in shares of AlTi Global by 158.4% during 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. AQR Capital Management LLC acquired a new position in shares of AlTi Global during the 1st quarter valued at about $42,000. XTX Topco Ltd purchased a new position in shares of AlTi Global during the 4th quarter worth about $63,000. Finally, The Manufacturers Life Insurance Company boosted its position in shares of 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 worth $75,000 after acquiring an additional 3,679 shares during the last quarter. 3.57% of the stock is currently owned by institutional investors and hedge funds.

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.