AlTi Global (NASDAQ:ALTI) Trading Down 5.8% – Should You Sell?

AlTi Global, Inc. (NASDAQ:ALTI)’s stock price dropped 5.8% on Tuesday . The company traded as low as $3.87 and last traded at $3.87. Approximately 52,930 shares were traded during mid-day trading, a decline of 69% from the average daily volume of 173,361 shares. The stock had previously closed at $4.11.

Wall Street Analyst Weigh In

ALTI has been the topic of several research reports. Zacks Research upgraded shares of AlTi Global from a “strong sell” rating to a “hold” rating in a research report on Monday, October 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of AlTi Global in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Reduce”.

AlTi Global Trading Up 1.7%

The stock has a market capitalization of $617.40 million, a P/E ratio of -2.33 and a beta of 0.75. The company has a fifty day simple moving average of $4.39 and a two-hundred day simple moving average of $4.16.

Institutional Trading of AlTi Global

A number of large investors have recently made changes to their positions in the company. Allianz SE boosted its stake in AlTi Global by 7.9% in the 3rd quarter. Allianz SE now owns 20,841,870 shares of the basic materials company’s stock worth $74,197,000 after purchasing an additional 1,523,289 shares during the period. Geode Capital Management LLC raised its position in AlTi Global by 15.2% during the second quarter. Geode Capital Management LLC now owns 1,298,545 shares of the basic materials company’s stock worth $5,390,000 after acquiring an additional 170,951 shares in the last quarter. Yorkville Advisors Global LP bought a new stake in shares of AlTi Global in the 3rd quarter valued at about $1,593,000. George Kaiser Family Foundation bought a new position in AlTi Global during the third quarter worth $1,039,000. Finally, Prescott Group Capital Management L.L.C. bought a new stake in shares of AlTi Global during the third quarter worth approximately $1,039,000. Institutional investors own 3.57% of the company’s stock.

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.