AlTi Global (NASDAQ:ALTI) Posts Quarterly Earnings Results, Misses Expectations By $0.05 EPS

AlTi Global (NASDAQ:ALTI) posted its quarterly earnings results on Monday. The basic materials company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.05), FiscalAI reports. The firm had revenue of $73.11 million for the quarter, compared to analyst estimates of $63.80 million. AlTi Global had a negative return on equity of 3.58% and a negative net margin of 46.65%.

AlTi Global Stock Performance

Shares of NASDAQ ALTI traded down $0.35 during trading hours on Monday, hitting $3.52. 168,120 shares of the stock were exchanged, compared to its average volume of 153,667. The company has a market cap of $530.06 million, a PE ratio of -2.55 and a beta of 0.76. The company’s fifty day simple moving average is $3.82 and its two-hundred day simple moving average is $4.16. AlTi Global has a 1-year low of $2.96 and a 1-year high of $5.45.

Hedge Funds Weigh In On AlTi Global

Several institutional investors and hedge funds have recently added to or reduced their stakes in ALTI. BNP Paribas Financial Markets lifted its stake in AlTi Global by 110.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 8,729 shares of the basic materials company’s stock valued at $31,000 after purchasing an additional 4,581 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in 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 purchasing an additional 5,912 shares during the last quarter. AQR Capital Management LLC bought a new position in AlTi Global in the 1st quarter valued at approximately $42,000. XTX Topco Ltd bought a new position in AlTi Global in the 4th quarter valued at approximately $63,000. Finally, The Manufacturers Life Insurance Company lifted its stake in AlTi Global by 25.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 18,157 shares of the basic materials company’s stock valued at $75,000 after purchasing an additional 3,679 shares during the last quarter. Institutional investors own 3.57% of the company’s stock.

Analysts Set New Price Targets

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

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.