AlTi Global (NASDAQ:ALTI) Cut to Sell at Wall Street Zen

Wall Street Zen lowered shares of AlTi Global (NASDAQ:ALTI) from a hold rating to a sell rating in a research report sent to investors on Saturday,Wall Street Zen reports.

ALTI has been the topic of several other research reports. Zacks Research lowered shares of AlTi Global from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 14th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of AlTi Global in a report on Friday, July 17th. Two equities research analysts have rated the stock with a Sell rating, According to MarketBeat.com, the company has a consensus rating of “Sell”.

AlTi Global Stock Performance

AlTi Global stock opened at $3.00 on Friday. AlTi Global has a 1 year low of $2.75 and a 1 year high of $5.45. The firm’s 50-day moving average is $3.78 and its 200-day moving average is $3.68. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.97 and a current ratio of 0.97. The company has a market cap of $467.82 million, a P/E ratio of -2.16 and a beta of 0.72.

Institutional Trading of AlTi Global

Large investors have recently modified their holdings of the company. BNP Paribas Financial Markets boosted its stake in 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 valued at $31,000 after purchasing an additional 4,581 shares during the period. Tower Research Capital LLC TRC raised its holdings in shares of AlTi Global by 158.4% during the second quarter. Tower Research Capital LLC TRC now owns 9,644 shares of the basic materials company’s stock valued at $40,000 after buying an additional 5,912 shares during the last quarter. XTX Topco Ltd acquired a new position in shares of AlTi Global during the fourth quarter worth approximately $63,000. AQR Capital Management LLC acquired a new position in shares of AlTi Global during the first quarter worth approximately $42,000. Finally, The Manufacturers Life Insurance Company grew its holdings 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 worth $75,000 after buying an additional 3,679 shares in the last quarter. Institutional investors and hedge funds own 3.57% of the company’s stock.

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.