AlTi Global (NASDAQ:ALTI) Trading 7.6% Higher – Still a Buy?

AlTi Global, Inc. (NASDAQ:ALTI)’s share price was up 7.6% during trading on Tuesday . The company traded as high as $4.65 and last traded at $4.65. Approximately 85,906 shares were traded during mid-day trading, a decline of 43% from the average daily volume of 151,752 shares. The stock had previously closed at $4.32.

AlTi Global Stock Down 2.8 %

The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $669.77 million, a price-to-earnings ratio of -2.11 and a beta of 0.65. The firm has a 50 day moving average price of $3.98 and a two-hundred day moving average price of $4.42.

AlTi Global (NASDAQ:ALTI) last announced its quarterly earnings results on Friday, August 9th. The basic materials company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.02). AlTi Global had a negative net margin of 50.54% and a positive return on equity of 7.36%. The business had revenue of $49.45 million for the quarter, compared to analyst estimates of $51.80 million. On average, equities analysts expect that AlTi Global, Inc. will post -0.02 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other AlTi Global news, COO Kevin P. Moran sold 137,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $4.00, for a total transaction of $550,000.00. Following the completion of the sale, the chief operating officer now directly owns 27,637 shares in the company, valued at $110,548. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other AlTi Global news, major shareholder Holdings Ilwaddi acquired 27,515 shares of the firm’s stock in a transaction on Tuesday, August 13th. The stock was bought at an average cost of $3.79 per share, for a total transaction of $104,281.85. Following the completion of the purchase, the insider now directly owns 18,012,099 shares in the company, valued at $68,265,855.21. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Kevin P. Moran sold 137,500 shares of the company’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $4.00, for a total transaction of $550,000.00. Following the completion of the transaction, the chief operating officer now owns 27,637 shares of the company’s stock, valued at $110,548. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders acquired 68,597 shares of company stock worth $269,227 and sold 165,067 shares worth $665,049. 22.14% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. The Manufacturers Life Insurance Company purchased a new position in shares of AlTi Global in the second quarter valued at $76,000. SG Americas Securities LLC purchased a new position in shares of AlTi Global in the third quarter valued at $63,000. CV Advisors LLC purchased a new position in shares of AlTi Global in the third quarter valued at $85,000. Rhumbline Advisers boosted its stake in shares of AlTi Global by 109.2% in the second quarter. Rhumbline Advisers now owns 37,443 shares of the basic materials company’s stock valued at $195,000 after purchasing an additional 19,547 shares during the period. Finally, Simon Quick Advisors LLC purchased a new position in shares of AlTi Global in the second quarter valued at $214,000. 3.57% of the stock is currently owned by hedge funds and other institutional investors.

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.