Short Interest in AlTi Global, Inc. (NASDAQ:ALTI) Rises By 15.7%

AlTi Global, Inc. (NASDAQ:ALTI) saw a large growth in short interest in the month of April. As of April 15th, there was short interest totalling 780,800 shares, a growth of 15.7% from the March 31st total of 675,100 shares. Approximately 2.4% of the shares of the company are sold short. Based on an average trading volume of 138,900 shares, the short-interest ratio is currently 5.6 days.

Insider Transactions at AlTi Global

In other news, Director Mark F. Furlong bought 25,000 shares of AlTi Global stock in a transaction dated Tuesday, April 2nd. The stock was bought at an average price of $5.43 per share, for a total transaction of $135,750.00. Following the purchase, the director now owns 25,000 shares of the company’s stock, valued at $135,750. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director Mark F. Furlong purchased 25,000 shares of the business’s stock in a transaction dated Tuesday, April 2nd. The stock was acquired at an average price of $5.43 per share, for a total transaction of $135,750.00. Following the acquisition, the director now directly owns 25,000 shares of the company’s stock, valued at approximately $135,750. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Cayman Holdings Ilwaddi purchased 20,000 shares of the business’s stock in a transaction dated Tuesday, April 2nd. The stock was bought at an average price of $5.15 per share, with a total value of $103,000.00. Following the acquisition, the insider now directly owns 17,913,265 shares in the company, valued at $92,253,314.75. The disclosure for this purchase can be found here. Company insiders own 27.50% of the company’s stock.

Institutional Investors Weigh In On AlTi Global

A hedge fund recently raised its stake in AlTi Global stock. Swiss National Bank raised its holdings in shares of AlTi Global, Inc. (NASDAQ:ALTI) by 9.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 55,867 shares of the basic materials company’s stock after buying an additional 4,800 shares during the period. Swiss National Bank’s holdings in AlTi Global were worth $489,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 3.57% of the company’s stock.

AlTi Global Price Performance

NASDAQ:ALTI opened at $4.75 on Monday. AlTi Global has a twelve month low of $3.88 and a twelve month high of $9.22. The firm has a 50-day moving average price of $5.55 and a two-hundred day moving average price of $6.60. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.84 and a current ratio of 0.84.

AlTi Global (NASDAQ:ALTI) last released its quarterly earnings results on Friday, March 15th. The basic materials company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.15). AlTi Global had a positive return on equity of 7.77% and a negative net margin of 67.99%. The firm had revenue of $91.71 million for the quarter, compared to analyst estimates of $66.80 million. Analysts expect that AlTi Global will post 0.27 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Raymond James upgraded shares of AlTi Global from a “market perform” rating to a “strong-buy” rating and set a $9.00 target price for the company in a report on Thursday, January 25th.

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.