AlTi Global (NASDAQ:ALTI) Sees Large Volume Increase – Still a Buy?
by Mitch Edgeman · The Markets DailyAlTi Global, Inc. (NASDAQ:ALTI – Get Free Report) shares saw strong trading volume on Wednesday . 266,768 shares traded 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.
Wall Street Analyst Weigh In
Several equities analysts have issued reports on ALTI shares. Zacks Research raised AlTi Global from a “strong sell” rating to a “hold” rating in a report on Monday, October 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of AlTi Global in a research report on Wednesday, October 8th. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce”.
View Our Latest Report on ALTI
AlTi Global Stock Up 10.3%
The firm has a market capitalization of $637.05 million, a PE ratio of -2.42 and a beta of 0.75. The business’s fifty day moving average price is $4.38 and its 200 day moving average price is $4.16.
Institutional Trading of AlTi Global
Hedge funds have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets grew its stake in shares of AlTi Global by 110.4% in 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 last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of AlTi Global by 158.4% during the second quarter. Tower Research Capital LLC TRC now owns 9,644 shares of the basic materials company’s stock worth $40,000 after purchasing an additional 5,912 shares during the period. AQR Capital Management LLC purchased a new position in AlTi Global in the 1st quarter valued at $42,000. The Manufacturers Life Insurance Company grew its position 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 buying an additional 3,679 shares during the last quarter. Finally, Millennium Management LLC acquired a new position in AlTi Global in the 3rd quarter valued at $91,000. 3.57% of the stock is owned by institutional investors and hedge funds.
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.