AlTi Global (NASDAQ:ALTI) Releases Earnings Results, Misses Expectations By $0.05 EPS

AlTi Global (NASDAQ:ALTI) released its earnings results on Monday. The basic materials company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.05), FiscalAI reports. The company had revenue of $73.11 million for the quarter, compared to the consensus estimate of $63.80 million. AlTi Global had a negative return on equity of 3.58% and a negative net margin of 46.65%.

AlTi Global Trading Down 7.8%

Shares of NASDAQ:ALTI traded down $0.30 on Monday, hitting $3.57. The company had a trading volume of 200,766 shares, compared to its average volume of 154,377. AlTi Global has a 1-year low of $2.96 and a 1-year high of $5.45. The stock has a market cap of $537.89 million, a price-to-earnings ratio of -2.59 and a beta of 0.76. The stock has a 50 day moving average price of $3.82 and a 200 day moving average price of $4.16.

Institutional Trading of AlTi Global

Hedge funds and other institutional investors have recently modified their holdings of the stock. Invesco Ltd. grew its position in shares of AlTi Global by 262.9% in the first quarter. Invesco Ltd. now owns 37,900 shares of the basic materials company’s stock valued at $115,000 after purchasing an additional 27,455 shares during the last quarter. AQR Capital Management LLC acquired a new stake in AlTi Global during the 1st quarter worth approximately $42,000. Geode Capital Management LLC boosted its stake in AlTi Global by 15.2% in the 2nd quarter. Geode Capital Management LLC now owns 1,298,545 shares of the basic materials company’s stock valued at $5,390,000 after purchasing an additional 170,951 shares during the period. The Manufacturers Life Insurance Company boosted its stake in AlTi Global by 25.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 18,157 shares of the basic materials company’s stock valued at $75,000 after purchasing an additional 3,679 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in AlTi Global by 15.4% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,280 shares of the basic materials company’s stock valued at $97,000 after buying an additional 3,109 shares in the last quarter. Institutional investors own 3.57% of the company’s stock.

Analyst Ratings Changes

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

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.