AlTi Global (NASDAQ:ALTI) Stock Price Down 7.8% – Here’s Why

AlTi Global, Inc. (NASDAQ:ALTI) traded down 7.8% on Wednesday . The company traded as low as $3.46 and last traded at $3.45. 164,064 shares changed hands during mid-day trading, an increase of 7% from the average session volume of 153,187 shares. The stock had previously closed at $3.74.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of AlTi Global in a research note on Monday, April 20th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, AlTi Global presently has a consensus rating of “Reduce”.

AlTi Global Price Performance

The business has a 50-day moving average of $3.88 and a 200 day moving average of $4.15. The company has a market capitalization of $542.41 million, a PE ratio of -2.61 and a beta of 0.83.

Institutional Investors Weigh In On AlTi Global

Large investors have recently bought and sold shares of the business. XTX Topco Ltd bought a new position in AlTi Global during the fourth quarter valued at $63,000. AQR Capital Management LLC grew its stake in shares of AlTi Global by 8.2% in the 4th quarter. AQR Capital Management LLC now owns 37,424 shares of the basic materials company’s stock worth $174,000 after buying an additional 2,824 shares in the last quarter. GAM Holding AG bought a new stake in shares of AlTi Global in the 4th quarter worth about $120,000. Price T Rowe Associates Inc. MD raised its position in shares of AlTi Global by 28.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 27,873 shares of the basic materials company’s stock valued at $130,000 after buying an additional 6,197 shares in the last quarter. Finally, Barclays PLC lifted its holdings in shares of AlTi Global by 11.6% in the 4th quarter. Barclays PLC now owns 67,567 shares of the basic materials company’s stock valued at $314,000 after acquiring an additional 7,011 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. 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.