AlTi Global (NASDAQ:ALTI) Sees Strong Trading Volume – What’s Next?

AlTi Global, Inc. (NASDAQ:ALTI) saw unusually-strong trading volume on Wednesday . Approximately 401,331 shares changed hands during mid-day trading, an increase of 171% from the previous session’s volume of 148,284 shares.The stock last traded at $3.76 and had previously closed at $3.77.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of AlTi Global in a research report on Monday. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce”.

AlTi Global Trading Up 1.5%

The company has a market capitalization of $573.30 million, a PE ratio of -2.75 and a beta of 0.83. The stock’s fifty day moving average is $3.96 and its two-hundred day moving average is $4.15.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ALTI. Allianz SE increased its stake in shares of AlTi Global by 7.9% during the 3rd quarter. Allianz SE now owns 20,841,870 shares of the basic materials company’s stock worth $74,197,000 after purchasing an additional 1,523,289 shares during the last quarter. Yorkville Advisors Global LP purchased a new position in AlTi Global in the third quarter valued at approximately $1,593,000. George Kaiser Family Foundation purchased a new position in AlTi Global in the third quarter valued at approximately $1,039,000. Prescott Group Capital Management L.L.C. bought a new position in AlTi Global during the third quarter valued at $1,039,000. Finally, Dimensional Fund Advisors LP increased its position in AlTi Global by 28.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 66,803 shares of the basic materials company’s stock worth $310,000 after buying an additional 14,641 shares during the last quarter. 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. It also provides trust and administration services, such as entity formation and management; creating or modifying trust instruments and administrative practices to meet beneficiary needs; corporate, trustee-executor, and fiduciary services; provision of directors and company secretarial services; administering entity ownership of intellectual property rights; advisory and administration services in connection with investments in marine and aviation assets; and administering entity ownership of fine art and collectibles.