AlTi Global (NASDAQ:ALTI) Shares Up 7.6% – Time to Buy?

AlTi Global, Inc. (NASDAQ:ALTI) shares traded up 7.6% during mid-day trading on Tuesday . The stock traded as high as $4.65 and last traded at $4.65. 85,906 shares traded hands during mid-day trading, a decline of 43% from the average session volume of 151,752 shares. The stock had previously closed at $4.32.

AlTi Global Stock Down 2.8 %

The stock has a market capitalization of $669.77 million, a price-to-earnings ratio of -2.11 and a beta of 0.65. The firm’s fifty day moving average is $3.98 and its 200-day moving average is $4.42. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.57 and a quick ratio of 1.57.

AlTi Global (NASDAQ:ALTI) last posted its quarterly earnings results on Friday, August 9th. The basic materials company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.02). The company had revenue of $49.45 million during the quarter, compared to analyst estimates of $51.80 million. AlTi Global had a negative net margin of 50.54% and a positive return on equity of 7.36%. On average, sell-side analysts predict that AlTi Global, Inc. will post -0.02 earnings per share for the current year.

Insider Activity at AlTi Global

In other AlTi Global news, insider Spiros Maliagros sold 5,769 shares of the stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $4.47, for a total transaction of $25,787.43. Following the sale, the insider now directly owns 405,167 shares of the company’s stock, valued at approximately $1,811,096.49. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other AlTi Global news, major shareholder Holdings Ilwaddi bought 27,515 shares of the company’s stock in a transaction on Tuesday, August 13th. The shares were bought at an average cost of $3.79 per share, with a total value of $104,281.85. Following the completion of the acquisition, the insider now owns 18,012,099 shares of the company’s stock, valued at approximately $68,265,855.21. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Spiros Maliagros sold 5,769 shares of the stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $4.47, for a total transaction of $25,787.43. Following the sale, the insider now directly owns 405,167 shares in the company, valued at $1,811,096.49. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have purchased 68,597 shares of company stock valued at $269,227 and have sold 165,067 shares valued at $665,049. 22.14% of the stock is currently owned by corporate insiders.

Institutional Trading of AlTi Global

A number of institutional investors and hedge funds have recently modified their holdings of ALTI. CV Advisors LLC bought a new position in shares of AlTi Global during the third quarter worth about $85,000. SG Americas Securities LLC bought a new position in shares of AlTi Global during the third quarter worth about $63,000. The Manufacturers Life Insurance Company bought a new position in shares of AlTi Global during the second quarter worth about $76,000. AlTi Global Inc. grew its position in shares of 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 acquiring an additional 11,216 shares during the last quarter. Finally, Simon Quick Advisors LLC bought a new position in shares of AlTi Global during the second quarter worth about $214,000. 3.57% of the stock is owned by institutional investors and hedge funds.

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.