AlTi Global (NASDAQ:ALTI) Downgraded by Zacks Research to Strong Sell

Zacks Research cut shares of AlTi Global (NASDAQ:ALTI) from a hold rating to a strong sell rating in a research note released on Tuesday morning,Zacks.com reports.

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of AlTi Global in a research report on Monday, April 20th. Two research analysts have rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Sell”.

AlTi Global Trading Up 3.5%

Shares of ALTI stock opened at $3.58 on Tuesday. The business’s fifty day moving average price is $3.35 and its 200 day moving average price is $3.85. AlTi Global has a 1-year low of $2.75 and a 1-year high of $5.45. The firm has a market capitalization of $542.79 million, a PE ratio of -2.54 and a beta of 0.71. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.95 and a quick ratio of 0.95.

Hedge Funds Weigh In On AlTi Global

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Yorkville Advisors Global LP boosted its position in AlTi Global by 45.1% during the fourth quarter. Yorkville Advisors Global LP now owns 649,199 shares of the basic materials company’s stock worth $3,012,000 after purchasing an additional 201,699 shares in the last quarter. Geode Capital Management LLC increased its position in shares of AlTi Global by 15.2% in the second quarter. Geode Capital Management LLC now owns 1,298,545 shares of the basic materials company’s stock valued at $5,390,000 after buying an additional 170,951 shares in the last quarter. State Street Corp raised its stake in shares of AlTi Global by 8.4% during the 4th quarter. State Street Corp now owns 776,258 shares of the basic materials company’s stock worth $3,602,000 after buying an additional 60,177 shares during the last quarter. Citadel Advisors LLC acquired a new position in shares of AlTi Global during the 3rd quarter worth $126,000. Finally, Dimensional Fund Advisors LP boosted its position in shares of AlTi Global by 46.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 97,681 shares of the basic materials company’s stock worth $354,000 after buying an additional 30,878 shares in the last quarter. 3.57% of the stock is 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.