AlTi Global (NASDAQ:ALTI) Stock Price Down 7% – What’s Next?

Shares of AlTi Global, Inc. (NASDAQ:ALTI) dropped 7% on Wednesday . The company traded as low as $3.53 and last traded at $3.5330. Approximately 68,343 shares changed hands during trading, a decline of 53% from the average daily volume of 145,029 shares. The stock had previously closed at $3.80.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of AlTi Global in a research report on Wednesday, January 21st. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, AlTi Global currently has a consensus rating of “Reduce”.

AlTi Global Price Performance

The firm has a market cap of $528.68 million, a price-to-earnings ratio of -1.99 and a beta of 0.76. The stock has a 50-day moving average price of $4.35 and a 200 day moving average price of $4.19.

Institutional Investors Weigh In On AlTi Global

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ALTI. XTX Topco Ltd acquired a new stake in shares of AlTi Global in the fourth quarter valued at approximately $63,000. AQR Capital Management LLC increased its holdings in shares of AlTi Global by 8.2% in the 4th quarter. AQR Capital Management LLC now owns 37,424 shares of the basic materials company’s stock valued at $174,000 after acquiring an additional 2,824 shares during the period. GAM Holding AG purchased a new stake in AlTi Global in the 4th quarter valued at $120,000. Price T Rowe Associates Inc. MD boosted its stake in AlTi Global by 28.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 27,873 shares of the basic materials company’s stock worth $130,000 after purchasing an additional 6,197 shares during the period. Finally, Barclays PLC grew its position in AlTi Global by 11.6% during the 4th quarter. Barclays PLC now owns 67,567 shares of the basic materials company’s stock worth $314,000 after purchasing an additional 7,011 shares during the last quarter. Hedge funds and other institutional investors 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. 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.