AlTi Global (NASDAQ:ALTI) Trading 7% Higher – Still a Buy?

AlTi Global, Inc. (NASDAQ:ALTI) shot up 7% during mid-day trading on Friday . The company traded as high as $3.46 and last traded at $3.4660. 17,431 shares traded hands during trading, a decline of 90% from the average session volume of 169,651 shares. The stock had previously closed at $3.24.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of AlTi Global in a report on Monday, April 20th. One investment 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 a consensus rating of “Reduce”.

AlTi Global Stock Performance

The company has a debt-to-equity ratio of 0.03, a current ratio of 0.95 and a quick ratio of 0.95. The firm has a fifty day simple moving average of $3.37 and a 200 day simple moving average of $3.97. The company has a market capitalization of $538.25 million, a price-to-earnings ratio of -2.52 and a beta of 0.73.

Institutional Investors Weigh In On AlTi Global

A number of institutional investors have recently added to or reduced their stakes in ALTI. Invesco Ltd. increased its holdings in AlTi Global by 262.9% in the 1st quarter. Invesco Ltd. now owns 37,900 shares of the basic materials company’s stock worth $115,000 after acquiring an additional 27,455 shares in the last quarter. AQR Capital Management LLC purchased a new position in AlTi Global during the first quarter valued at $42,000. Geode Capital Management LLC grew its position in shares of AlTi Global by 15.2% in the second quarter. Geode Capital Management LLC now owns 1,298,545 shares of the basic materials company’s stock valued at $5,390,000 after purchasing an additional 170,951 shares during the period. The Manufacturers Life Insurance Company increased its stake in shares of AlTi Global by 25.4% during the second quarter. The Manufacturers Life Insurance Company now owns 18,157 shares of the basic materials company’s stock worth $75,000 after purchasing an additional 3,679 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of AlTi Global by 15.4% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,280 shares of the basic materials company’s stock worth $97,000 after purchasing an additional 3,109 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.