AlTi Global (NASDAQ:ALTI) Sees Large Volume Increase

AlTi Global, Inc. (NASDAQ:ALTI) saw unusually-strong trading volume on Tuesday . Approximately 359,332 shares traded hands during mid-day trading, an increase of 183% from the previous session’s volume of 126,912 shares.The stock last traded at $5.00 and had previously closed at $4.87.

Wall Street Analysts Forecast Growth

Separately, Raymond James upgraded shares of AlTi Global from a “market perform” rating to a “strong-buy” rating and set a $9.00 target price on the stock in a report on Thursday, January 25th.

AlTi Global Stock Performance

The firm has a market capitalization of $595.46 million, a PE ratio of -1.56 and a beta of 0.60. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.84 and a current ratio of 0.84. The company’s fifty day moving average price is $5.57 and its two-hundred day moving average price is $6.61.

AlTi Global (NASDAQ:ALTI) last announced its quarterly earnings data on Friday, March 15th. The basic materials company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.15). The company had revenue of $91.71 million for the quarter, compared to analysts’ expectations of $66.80 million. AlTi Global had a positive return on equity of 7.77% and a negative net margin of 67.99%. As a group, equities analysts expect that AlTi Global, Inc. will post 0.27 earnings per share for the current year.

Insider Transactions at AlTi Global

In other AlTi Global news, Director Mark F. Furlong bought 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was purchased at an average price of $5.43 per share, with a total value of $135,750.00. Following the transaction, the director now owns 25,000 shares in the company, valued at $135,750. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, insider Brooke Connell sold 15,000 shares of the stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $5.07, for a total transaction of $76,050.00. Following the completion of the sale, the insider now owns 190,772 shares of the company’s stock, valued at approximately $967,214.04. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Mark F. Furlong bought 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were acquired at an average cost of $5.43 per share, with a total value of $135,750.00. Following the transaction, the director now owns 25,000 shares in the company, valued at approximately $135,750. The disclosure for this purchase can be found here. Insiders own 27.50% of the company’s stock.

Institutional Trading of AlTi Global

A hedge fund recently raised its stake in AlTi Global stock. Swiss National Bank lifted its stake in shares of AlTi Global, Inc. (NASDAQ:ALTI) by 9.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 55,867 shares of the basic materials company’s stock after buying an additional 4,800 shares during the quarter. Swiss National Bank’s holdings in AlTi Global were worth $489,000 as of its most recent filing with the Securities and Exchange Commission. 3.57% of the stock is owned by hedge funds and other institutional investors.

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.