AlTi Global (NASDAQ:ALTI) Shares Gap Up to $5.31

Shares of AlTi Global, Inc. (NASDAQ:ALTI) gapped up prior to trading on Thursday . The stock had previously closed at $5.31, but opened at $5.54. AlTi Global shares last traded at $5.60, with a volume of 4,591 shares changing hands.

Analyst Upgrades and Downgrades

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

AlTi Global Trading Up 6.6 %

The stock has a market cap of $667.82 million, a PE ratio of -1.77 and a beta of 0.62. The firm has a 50-day simple moving average of $5.98 and a 200-day simple moving average of $6.88. The company has a quick ratio of 0.68, a current ratio of 0.84 and a debt-to-equity ratio of 0.24.

Institutional Investors Weigh In On AlTi Global

Institutional investors and hedge funds have recently made changes to their positions in the business. Citigroup Inc. raised its position in shares of AlTi Global by 50.8% in the second quarter. Citigroup Inc. now owns 6,774 shares of the basic materials company’s stock worth $52,000 after buying an additional 2,281 shares in the last quarter. Deutsche Bank AG purchased a new stake in shares of AlTi Global in the third quarter worth $57,000. Cubist Systematic Strategies LLC bought a new position in AlTi Global in the first quarter valued at $63,000. Wells Fargo & Company MN increased its stake in AlTi Global by 5,430.2% in the second quarter. Wells Fargo & Company MN now owns 8,793 shares of the basic materials company’s stock valued at $67,000 after acquiring an additional 8,634 shares during the last quarter. Finally, The Manufacturers Life Insurance Company bought a new position in AlTi Global in the fourth quarter valued at $91,000. Hedge funds and other institutional investors 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 and internationally. The company offers discretionary investment management, non-discretionary investment advisory, trust, and administration services, as well as family office services comprising wealth transfer planning, multi-generational education planning, wealth and asset strategy, trust and fiduciary, chief financial officers and outsourced family office, philanthropy, and lifestyle and special projects services.