AlTi Global (NASDAQ:ALTI) Shares Pass Above Two Hundred Day Moving Average – Here’s What Happened

AlTi Global, Inc. (NASDAQ:ALTI)’s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $4.13 and traded as high as $4.75. AlTi Global shares last traded at $4.67, with a volume of 67,325 shares changing hands.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Zacks Research raised AlTi Global from a “strong sell” rating to a “hold” rating in a research report on Monday, October 6th. Weiss Ratings restated a “sell (d-)” rating on shares of AlTi Global in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce”.

AlTi Global Stock Up 0.7%

The company has a fifty day moving average of $4.29 and a two-hundred day moving average of $4.14. The stock has a market capitalization of $680.46 million, a price-to-earnings ratio of -2.56 and a beta of 0.77.

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

Institutional Investors Weigh In On AlTi Global

A number of institutional investors have recently added to or reduced their stakes in ALTI. Flputnam Investment Management Co. acquired a new stake in shares of AlTi Global in the 1st quarter valued at approximately $76,000. Nuveen LLC purchased a new position in AlTi Global in the first quarter worth $158,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in AlTi Global by 15.4% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,280 shares of the basic materials company’s stock valued at $97,000 after acquiring an additional 3,109 shares during the period. Millennium Management LLC acquired a new stake in AlTi Global in the third quarter valued at $91,000. Finally, The Manufacturers Life Insurance Company boosted its position in shares of AlTi Global by 25.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 18,157 shares of the basic materials company’s stock worth $75,000 after purchasing an additional 3,679 shares in 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.