AlTi Global (NASDAQ:ALTI) Stock Price Down 9% – Time to Sell?

Shares of AlTi Global, Inc. (NASDAQ:ALTI) fell 9% during trading on Thursday . The stock traded as low as $3.77 and last traded at $3.6850. 118,026 shares changed hands during mid-day trading, a decline of 17% from the average session volume of 141,502 shares. The stock had previously closed at $4.05.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of AlTi Global in a report on Wednesday, January 21st. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Reduce”.

AlTi Global Stock Performance

The company has a market cap of $536.74 million, a price-to-earnings ratio of -2.02 and a beta of 0.76. The business has a fifty day moving average price of $4.39 and a 200 day moving average price of $4.20.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Allianz SE boosted its stake in shares of AlTi Global by 7.9% in the 3rd quarter. Allianz SE now owns 20,841,870 shares of the basic materials company’s stock valued at $74,197,000 after purchasing an additional 1,523,289 shares in the last quarter. George Kaiser Family Foundation acquired a new position in AlTi Global during the 3rd quarter worth approximately $1,039,000. Prescott Group Capital Management L.L.C. acquired a new position in AlTi Global during the 3rd quarter worth approximately $1,039,000. Tower Research Capital LLC TRC lifted its stake in AlTi Global by 158.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 9,644 shares of the basic materials company’s stock valued at $40,000 after purchasing an additional 5,912 shares during the last quarter. Finally, Barclays PLC boosted its position in AlTi Global by 11.6% in the fourth quarter. Barclays PLC now owns 67,567 shares of the basic materials company’s stock valued at $314,000 after buying an additional 7,011 shares in the last quarter. Institutional investors and hedge funds own 3.57% of the company’s stock.

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. 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.