AlTi Global, Inc. (NASDAQ:ALTI) Short Interest Update

AlTi Global, Inc. (NASDAQ:ALTI) was the recipient of a large increase in short interest in the month of April. As of April 15th, there was short interest totalling 780,800 shares, an increase of 15.7% from the March 31st total of 675,100 shares. Currently, 2.4% of the shares of the company are short sold. Based on an average daily volume of 138,900 shares, the days-to-cover ratio is currently 5.6 days.

Analyst Ratings Changes

Separately, Raymond James raised AlTi Global from a “market perform” rating to a “strong-buy” rating and set a $9.00 price objective for the company in a research note on Thursday, January 25th.

Insider Activity at AlTi Global

In related news, major shareholder Cayman Holdings Ilwaddi acquired 20,000 shares of the firm’s stock in a transaction on Tuesday, April 2nd. The stock was bought at an average cost of $5.15 per share, with a total value of $103,000.00. Following the transaction, the insider now owns 17,913,265 shares of the company’s stock, valued at $92,253,314.75. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other AlTi Global news, major shareholder Cayman Holdings Ilwaddi purchased 20,000 shares of AlTi Global stock in a transaction dated Tuesday, April 2nd. The stock was acquired at an average cost of $5.15 per share, with a total value of $103,000.00. Following the acquisition, the insider now directly owns 17,913,265 shares of the company’s stock, valued at $92,253,314.75. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Mark F. Furlong purchased 25,000 shares of AlTi Global stock in a transaction dated Tuesday, April 2nd. The stock was acquired at an average cost of $5.43 per share, with a total value of $135,750.00. Following the completion of the acquisition, the director now directly owns 25,000 shares in the company, valued at $135,750. The disclosure for this purchase can be found here. Insiders own 27.50% of the company’s stock.

Institutional Investors Weigh In On AlTi Global

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Swiss National Bank grew its position in shares of AlTi Global by 9.4% in the fourth quarter. Swiss National Bank now owns 55,867 shares of the basic materials company’s stock valued at $489,000 after purchasing an additional 4,800 shares during the period. Caprock Group LLC grew its position in shares of AlTi Global by 11.3% in the first quarter. Caprock Group LLC now owns 38,928 shares of the basic materials company’s stock valued at $220,000 after purchasing an additional 3,950 shares during the period. Finally, Mesirow Financial Investment Management Inc. grew its position in shares of AlTi Global by 78.1% in the third quarter. Mesirow Financial Investment Management Inc. now owns 35,666 shares of the basic materials company’s stock valued at $248,000 after purchasing an additional 15,642 shares during the period. Hedge funds and other institutional investors own 3.57% of the company’s stock.

AlTi Global Stock Performance

AlTi Global stock opened at $4.60 on Wednesday. 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 stock has a fifty day moving average of $5.52 and a two-hundred day moving average of $6.56. The company has a market capitalization of $548.92 million, a price-to-earnings ratio of -1.44 and a beta of 0.60. AlTi Global has a fifty-two week low of $3.88 and a fifty-two week high of $9.22.

AlTi Global (NASDAQ:ALTI) last released its quarterly earnings results 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%. On average, analysts anticipate that AlTi Global will post 0.27 EPS for the current fiscal year.

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.