AlTi Global (NASDAQ:ALTI) Shares Gap Up to $4.34

AlTi Global, Inc. (NASDAQ:ALTI) shares gapped up prior to trading on Thursday . The stock had previously closed at $4.34, but opened at $4.55. AlTi Global shares last traded at $4.55, with a volume of 1,836 shares traded.

AlTi Global Trading Up 1.3 %

The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.33 and a current ratio of 2.33. The firm has a 50 day simple moving average of $4.77 and a two-hundred day simple moving average of $5.57. The firm has a market capitalization of $553.24 million, a P/E ratio of -2.57 and a beta of 0.71.

AlTi Global (NASDAQ:ALTI) last issued its quarterly earnings data on Friday, May 10th. The basic materials company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.05). AlTi Global had a negative net margin of 29.75% and a positive return on equity of 7.45%. The company had revenue of $50.81 million for the quarter, compared to the consensus estimate of $61.50 million. Equities research analysts forecast that AlTi Global, Inc. will post -0.02 earnings per share for the current year.

Insider Buying and Selling at AlTi Global

In related news, CEO Michael Tiedemann acquired 60,000 shares of the company’s stock in a transaction on Thursday, May 16th. The shares were acquired at an average cost of $4.66 per share, for a total transaction of $279,600.00. Following the purchase, the chief executive officer now owns 369,146 shares in the company, valued at $1,720,220.36. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, insider Spiros Maliagros sold 14,134 shares of AlTi Global stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $5.04, for a total transaction of $71,235.36. Following the sale, the insider now directly owns 485,247 shares in the company, valued at approximately $2,445,644.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael Tiedemann bought 60,000 shares of the stock in a transaction dated Thursday, May 16th. The shares were acquired at an average price of $4.66 per share, for a total transaction of $279,600.00. Following the completion of the purchase, the chief executive officer now directly owns 369,146 shares in the company, valued at $1,720,220.36. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 223,790 shares of company stock worth $1,051,551 and have sold 26,263 shares worth $127,261. Company insiders own 22.14% of the company’s stock.

Institutional Investors Weigh In On AlTi Global

A number of hedge funds have recently made changes to their positions in ALTI. Caprock Group LLC raised its stake in shares of AlTi Global by 11.3% during the 1st quarter. Caprock Group LLC now owns 38,928 shares of the basic materials company’s stock worth $220,000 after purchasing an additional 3,950 shares during the period. Swiss National Bank increased its holdings in AlTi Global by 9.4% in the 4th quarter. Swiss National Bank now owns 55,867 shares of the basic materials company’s stock worth $489,000 after acquiring an additional 4,800 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in AlTi Global by 213.4% in the 1st quarter. Vanguard Group Inc. now owns 1,593,772 shares of the basic materials company’s stock worth $9,021,000 after acquiring an additional 1,085,308 shares during the last quarter. 3.57% of the stock is currently owned by 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.