AlTi Global (NASDAQ:ALTI) Sees Large Volume Increase – Time to Buy?
by Renee Jackson · The Cerbat GemAlTi Global, Inc. (NASDAQ:ALTI – Get Free Report) shares saw strong trading volume on Wednesday . 266,768 shares changed hands during trading, an increase of 28% from the previous session’s volume of 207,621 shares.The stock last traded at $3.9520 and had previously closed at $3.94.
Analysts Set New Price Targets
Several analysts have issued reports on the company. Zacks Research upgraded AlTi Global from a “strong sell” rating to a “hold” rating in a research note on Monday, October 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of AlTi Global in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, AlTi Global presently has a consensus rating of “Reduce”.
Read Our Latest Stock Report on AlTi Global
AlTi Global Stock Performance
The stock has a market cap of $608.60 million, a P/E ratio of -2.29 and a beta of 0.75. The stock’s fifty day simple moving average is $4.39 and its 200-day simple moving average is $4.16.
Institutional Investors Weigh In On AlTi Global
Large investors have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets increased its position in shares of AlTi Global by 110.4% in the third quarter. BNP Paribas Financial Markets now owns 8,729 shares of the basic materials company’s stock worth $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 acquired a new position in AlTi Global during the first quarter valued at approximately $42,000. 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. Finally, Millennium Management LLC acquired a new stake in shares of AlTi Global in the 3rd quarter valued at $91,000. Institutional investors and hedge funds 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.