AlTi Global (NASDAQ:ALTI) Stock Price Up 5.5%

AlTi Global, Inc. (NASDAQ:ALTI)’s share price shot up 5.5% during mid-day trading on Tuesday . The stock traded as high as $4.98 and last traded at $4.81. 29,454 shares traded hands during trading, a decline of 76% from the average session volume of 120,272 shares. The stock had previously closed at $4.56.

Analysts Set New Price Targets

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 Up 2.0 %

The company has a debt-to-equity ratio of 0.24, a current ratio of 0.84 and a quick ratio of 0.84. The company has a market cap of $554.88 million, a P/E ratio of -1.50 and a beta of 0.69. The stock has a 50-day moving average of $5.39 and a 200 day moving average of $6.50.

AlTi Global (NASDAQ:ALTI) last released its earnings results on Friday, March 15th. The basic materials company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.15). AlTi Global had a negative net margin of 67.99% and a positive return on equity of 7.77%. The business had revenue of $91.71 million during the quarter, compared to the consensus estimate of $66.80 million. Research analysts anticipate that AlTi Global, Inc. will post 0.27 earnings per share for the current year.

Insider Transactions at AlTi Global

In related news, Director Mark F. Furlong acquired 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were bought at an average cost of $5.43 per share, with a total value of $135,750.00. Following the completion of the purchase, the director now directly owns 25,000 shares in the company, valued at $135,750. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other AlTi Global news, Director Mark F. Furlong purchased 25,000 shares of the company’s stock in a transaction on Tuesday, April 2nd. The shares were purchased at an average cost of $5.43 per share, with a total value of $135,750.00. Following the completion of the purchase, the director now owns 25,000 shares in the company, valued at $135,750. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Brooke Connell sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $5.07, for a total value of $76,050.00. Following the transaction, the insider now directly owns 190,772 shares in the company, valued at $967,214.04. The disclosure for this sale can be found here. Company insiders own 27.50% of the company’s stock.

Institutional Investors Weigh In On AlTi Global

Several institutional investors have recently bought and sold shares of the stock. Mesirow Financial Investment Management Inc. lifted its position in shares of AlTi Global by 78.1% during the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 35,666 shares of the basic materials company’s stock valued at $248,000 after buying an additional 15,642 shares during the last quarter. Swiss National Bank lifted its position in shares of AlTi Global by 15.4% during the 3rd quarter. Swiss National Bank now owns 51,067 shares of the basic materials company’s stock valued at $355,000 after buying an additional 6,800 shares during the last quarter. Finally, Caprock Group LLC lifted its position in shares of AlTi Global by 11.3% during the 1st quarter. Caprock Group LLC now owns 38,928 shares of the basic materials company’s stock valued at $220,000 after buying an additional 3,950 shares during the last quarter. Institutional investors 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.