AlTi Global (NASDAQ:ALTI) Shares Gap Down – Time to Sell?

AlTi Global, Inc. (NASDAQ:ALTI)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $4.23, but opened at $4.07. AlTi Global shares last traded at $4.0750, with a volume of 2,056 shares.

Analyst Ratings Changes

A number of brokerages have issued reports on ALTI. Weiss Ratings reissued a “sell (d-)” rating on shares of AlTi Global in a research report on Wednesday, October 8th. Zacks Research raised AlTi Global from a “strong sell” rating to a “hold” rating in a research note on Monday, October 6th. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, AlTi Global currently has a consensus rating of “Reduce”.

AlTi Global Stock Up 0.2%

The stock has a market capitalization of $602.74 million, a PE ratio of -2.27 and a beta of 0.75. The stock has a fifty day moving average of $4.38 and a 200-day moving average of $4.16.

AlTi Global (NASDAQ:ALTI) last posted its quarterly earnings results on Thursday, April 20th. The basic materials company reported ($0.11) earnings per share (EPS) for the quarter. The company had revenue of ($18.58) million during the quarter. AlTi Global had a negative net margin of 71.93% and a negative return on equity of 6.77%. Equities research analysts expect that AlTi Global, Inc. will post -0.14 EPS for the current year.

Institutional Investors Weigh In On AlTi Global

Several institutional investors have recently modified their holdings of the company. Allianz SE boosted its position in shares of AlTi Global by 7.9% during the 3rd quarter. Allianz SE now owns 20,841,870 shares of the basic materials company’s stock worth $74,197,000 after acquiring an additional 1,523,289 shares in the last quarter. Yorkville Advisors Global LP purchased a new position in AlTi Global in the third quarter valued at approximately $1,593,000. George Kaiser Family Foundation acquired a new stake in AlTi Global during the third quarter worth approximately $1,039,000. Prescott Group Capital Management L.L.C. purchased a new stake in shares of AlTi Global during the 3rd quarter worth approximately $1,039,000. Finally, Geode Capital Management LLC boosted its holdings in shares of AlTi Global by 15.2% in the 2nd quarter. Geode Capital Management LLC now owns 1,298,545 shares of the basic materials company’s stock valued at $5,390,000 after buying an additional 170,951 shares in the last quarter. 3.57% of the stock is owned by hedge funds and other institutional investors.

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. 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.