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

Shares of AlTi Global, Inc. (NASDAQ:ALTI) shot up 7% during mid-day trading on Friday . The company traded as high as $3.46 and last traded at $3.4660. 17,431 shares were traded during trading, a decline of 90% from the average session volume of 169,651 shares. The stock had previously closed at $3.24.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of AlTi Global in a research report on Monday, April 20th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce”.

AlTi Global Price Performance

The business has a 50-day moving average price of $3.37 and a two-hundred day moving average price of $3.97. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $511.57 million, a price-to-earnings ratio of -2.39 and a beta of 0.73.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Allianz SE grew its holdings in shares of AlTi Global by 7.9% during the third quarter. Allianz SE now owns 20,841,870 shares of the basic materials company’s stock valued at $74,197,000 after buying an additional 1,523,289 shares during the last quarter. Yorkville Advisors Global LP bought a new position in AlTi Global in the 3rd quarter valued at about $1,593,000. George Kaiser Family Foundation bought a new position in AlTi Global in the 3rd quarter valued at about $1,039,000. Geode Capital Management LLC boosted its stake in AlTi Global by 15.2% during 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 purchasing an additional 170,951 shares during the last quarter. Finally, State Street Corp boosted its stake in AlTi Global by 8.4% during the 4th quarter. State Street Corp now owns 776,258 shares of the basic materials company’s stock valued at $3,602,000 after purchasing an additional 60,177 shares during the last quarter. 3.57% of the stock is owned by institutional investors.

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.