AlTi Global (NASDAQ:ALTI) Shares Down 6%

AlTi Global, Inc. (NASDAQ:ALTI) dropped 6% during mid-day trading on Monday . The stock traded as low as $4.85 and last traded at $4.90. Approximately 57,559 shares traded hands during trading, a decline of 61% from the average daily volume of 145,869 shares. The stock had previously closed at $5.21.

AlTi Global Price Performance

The company’s 50 day moving average price is $4.80 and its 200-day moving average price is $5.72. The company has a market capitalization of $571.25 million, a PE ratio of -2.60 and a beta of 0.71. The company has a current ratio of 2.33, a quick ratio of 2.33 and a debt-to-equity ratio of 0.23.

AlTi Global (NASDAQ:ALTI) last issued its quarterly earnings data on Friday, May 10th. The basic materials company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.05). AlTi Global had a positive return on equity of 7.45% and a negative net margin of 29.75%. The firm had revenue of $50.81 million during the quarter, compared to analyst estimates of $61.50 million. On average, sell-side analysts forecast that AlTi Global, Inc. will post -0.02 earnings per share for the current fiscal year.

Insider Activity

In other AlTi Global news, major shareholder Holdings Ilwaddi bought 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 4th. The stock was acquired at an average cost of $4.99 per share, with a total value of $99,800.00. Following the completion of the purchase, the insider now directly owns 17,953,265 shares in the company, valued at $89,586,792.35. The purchase was disclosed in a filing with the SEC, which is accessible through this link. In related news, major shareholder Holdings Ilwaddi acquired 20,000 shares of the company’s stock in a transaction on Tuesday, June 4th. The shares were purchased at an average price of $4.99 per share, for a total transaction of $99,800.00. Following the purchase, the insider now owns 17,953,265 shares in the company, valued at $89,586,792.35. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Michael Tiedemann acquired 60,000 shares of the company’s stock in a transaction on Thursday, May 16th. The stock was bought at an average price of $4.66 per share, for a total transaction of $279,600.00. Following the purchase, the chief executive officer now owns 369,146 shares in the company, valued at approximately $1,720,220.36. The disclosure for this purchase can be found here. Insiders purchased 223,790 shares of company stock worth $1,051,551 over the last three months. Corporate insiders own 22.14% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of ALTI. Vanguard Group Inc. raised its holdings in AlTi Global by 213.4% in the 1st quarter. Vanguard Group Inc. now owns 1,593,772 shares of the basic materials company’s stock worth $9,021,000 after acquiring an additional 1,085,308 shares during the period. Caprock Group LLC grew its position in AlTi Global by 11.3% in the 1st quarter. Caprock Group LLC now owns 38,928 shares of the basic materials company’s stock worth $220,000 after purchasing an additional 3,950 shares during the last quarter. Finally, Swiss National Bank grew its position in AlTi Global by 9.4% in the 4th quarter. Swiss National Bank now owns 55,867 shares of the basic materials company’s stock worth $489,000 after purchasing an additional 4,800 shares during the last quarter. 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.