AlTi Global (NASDAQ:ALTI) Sees Unusually-High Trading Volume – Still a Buy?

AlTi Global, Inc. (NASDAQ:ALTI) shares saw an uptick in trading volume on Tuesday . 246,065 shares were traded during mid-day trading, an increase of 312% from the previous session’s volume of 59,765 shares.The stock last traded at $4.07 and had previously closed at $4.22.

AlTi Global Trading Down 1.2 %

The company has a 50 day moving average of $4.43 and a 200 day moving average of $4.31. The company has a debt-to-equity ratio of 0.17, a quick ratio of 4.05 and a current ratio of 4.05. The stock has a market capitalization of $585.87 million, a price-to-earnings ratio of -2.39 and a beta of 0.73.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Bank of New York Mellon Corp grew its holdings in AlTi Global by 89.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 106,440 shares of the basic materials company’s stock valued at $555,000 after buying an additional 50,379 shares in the last quarter. Rhumbline Advisers increased its position in AlTi Global by 109.2% during the second quarter. Rhumbline Advisers now owns 37,443 shares of the basic materials company’s stock worth $195,000 after purchasing an additional 19,547 shares during the last quarter. AlTi Global Inc. raised its stake in AlTi Global by 1.5% during the second quarter. AlTi Global Inc. now owns 772,186 shares of the basic materials company’s stock worth $4,023,000 after purchasing an additional 11,216 shares during the period. The Manufacturers Life Insurance Company purchased a new stake in shares of AlTi Global in the 2nd quarter valued at approximately $76,000. Finally, SG Americas Securities LLC acquired a new stake in shares of AlTi Global during the 3rd quarter worth approximately $63,000. 3.57% of the stock is owned by hedge funds and other institutional investors.

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.