AlTi Global (NASDAQ:ALTI) Upgraded to Hold at Zacks Research

Zacks Research upgraded shares of AlTi Global (NASDAQ:ALTI) from a strong sell rating to a hold rating in a research note issued to investors on Monday,Zacks reports.

A number of other brokerages have also issued reports on ALTI. Wall Street Zen upgraded shares of AlTi Global from a “sell” rating to a “hold” rating in a research note on Saturday, September 19th. Weiss Ratings reiterated a “sell (d-)” rating on shares of AlTi Global in a research note on Thursday, October 15th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Reduce”.

AlTi Global Stock Up 9.0%

ALTI stock opened at $2.67 on Monday. The stock has a market capitalization of $416.36 million, a PE ratio of -1.92 and a beta of 0.78. AlTi Global has a 52 week low of $2.26 and a 52 week high of $5.45. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.02. The firm has a 50 day moving average of $3.29 and a 200 day moving average of $3.45.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. BlueCrest Capital Management Ltd raised its stake in shares of AlTi Global by 314.7% in the second quarter. BlueCrest Capital Management Ltd now owns 825,000 shares of the basic materials company’s stock worth $2,978,000 after purchasing an additional 626,053 shares during the last quarter. Squarepoint Ops LLC acquired a new stake in shares of AlTi Global during the second quarter worth about $637,000. Yorkville Advisors Global LP lifted its holdings in shares of AlTi Global by 19.1% during the first quarter. Yorkville Advisors Global LP now owns 773,000 shares of the basic materials company’s stock worth $2,798,000 after purchasing an additional 123,801 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of AlTi Global by 46.2% during the first quarter. Dimensional Fund Advisors LP now owns 97,681 shares of the basic materials company’s stock worth $354,000 after purchasing an additional 30,878 shares during the period. Finally, Simon Quick Advisors LLC purchased a new stake in AlTi Global in the first quarter valued at approximately $94,000. 3.57% of the stock is owned by institutional investors and hedge funds.

AlTi Global Company Profile

AlTi Global, Inc (NASDAQ: ALTI) is a global independent wealth manager providing investment, advisory and strategic services to individuals, families, foundations, endowments and institutions. The company focuses on helping clients manage and grow wealth through customized investment strategies and long-term planning.

Its services include wealth management, investment management, alternative investments, portfolio construction, impact investing and outsourced chief investment officer solutions.