AlTi Global (NASDAQ:ALTI) Shares Up 7% – Here’s What Happened

Shares of AlTi Global, Inc. (NASDAQ:ALTI) were up 7% on Friday . The company traded as high as $3.46 and last traded at $3.4660. 17,431 shares changed hands during mid-day trading, a decline of 90% from the average session volume of 169,651 shares. The stock had previously closed at $3.24.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of AlTi Global in a report on Monday, April 20th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, AlTi Global has a consensus rating of “Reduce”.

AlTi Global Stock Up 4.1%

The stock has a 50-day simple moving average of $3.37 and a 200-day simple moving average of $3.97. The firm has a market capitalization of $511.57 million, a PE ratio of -2.39 and a beta of 0.73. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.03.

Institutional Investors Weigh In On AlTi Global

Hedge funds and other institutional investors have recently bought and sold shares of the business. BNP Paribas Financial Markets raised its stake in shares of AlTi Global by 110.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 8,729 shares of the basic materials company’s stock valued at $31,000 after purchasing an additional 4,581 shares during the period. Tower Research Capital LLC TRC increased its stake in AlTi Global by 158.4% in the second quarter. Tower Research Capital LLC TRC now owns 9,644 shares of the basic materials company’s stock valued at $40,000 after acquiring an additional 5,912 shares during the last quarter. AQR Capital Management LLC purchased a new stake in AlTi Global during the first quarter valued at about $42,000. XTX Topco Ltd purchased a new stake in AlTi Global during the fourth quarter valued at about $63,000. Finally, The Manufacturers Life Insurance Company lifted its stake in AlTi Global by 25.4% during the second quarter. The Manufacturers Life Insurance Company now owns 18,157 shares of the basic materials company’s stock worth $75,000 after purchasing an additional 3,679 shares during the last quarter. Institutional investors own 3.57% of the company’s stock.

About AlTi Global

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.