AlTi Global (NASDAQ:ALTI) Trading Down 4.4%

AlTi Global, Inc. (NASDAQ:ALTI) shares dropped 4.4% during mid-day trading on Friday . The company traded as low as $4.72 and last traded at $4.77. Approximately 24,751 shares were traded during mid-day trading, a decline of 80% from the average daily volume of 125,222 shares. The stock had previously closed at $4.99.

Wall Street Analyst Weigh In

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 Stock Down 4.8 %

The firm has a 50 day moving average price of $5.57 and a two-hundred day moving average price of $6.61. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.84 and a quick ratio of 0.84.

AlTi Global (NASDAQ:ALTI) last issued 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 during the quarter, compared to analyst estimates of $66.80 million. AlTi Global had a negative net margin of 67.99% and a positive return on equity of 7.77%. As a group, research analysts predict that AlTi Global, Inc. will post 0.27 earnings per share for the current year.

Insider Activity

In other news, insider Brooke Connell sold 15,000 shares of the stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $5.07, for a total value of $76,050.00. Following the completion of the sale, the insider now owns 190,772 shares of the company’s stock, valued at $967,214.04. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other AlTi Global news, major shareholder Cayman Holdings Ilwaddi bought 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were bought at an average price of $5.15 per share, for a total transaction of $103,000.00. Following the transaction, the insider now directly owns 17,913,265 shares in the company, valued at $92,253,314.75. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Brooke Connell sold 15,000 shares of the company’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $5.07, for a total value of $76,050.00. Following the sale, the insider now owns 190,772 shares in the company, valued at approximately $967,214.04. The disclosure for this sale can be found here. Insiders own 27.50% of the company’s stock.

Institutional Inflows and Outflows

An institutional investor recently raised its position in AlTi Global stock. Mesirow Financial Investment Management Inc. boosted its position in AlTi Global, Inc. (NASDAQ:ALTI) by 78.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 35,666 shares of the basic materials company’s stock after acquiring an additional 15,642 shares during the period. Mesirow Financial Investment Management Inc.’s holdings in AlTi Global were worth $248,000 as of its most recent SEC filing. Institutional investors and hedge funds 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.