AlTi Global (NASDAQ:ALTI) Sees Unusually-High Trading Volume – Should You Buy?

AlTi Global, Inc. (NASDAQ:ALTI) shares saw an uptick in trading volume on Thursday . 754,724 shares were traded during mid-day trading, an increase of 396% from the previous session’s volume of 152,063 shares.The stock last traded at $4.15 and had previously closed at $4.10.

AlTi Global Stock Up 3.2 %

The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.21. The business has a 50-day simple moving average of $3.96 and a two-hundred day simple moving average of $4.41. The stock has a market capitalization of $588.68 million, a P/E ratio of -1.85 and a beta of 0.67.

AlTi Global (NASDAQ:ALTI) last posted its earnings results on Friday, August 9th. The basic materials company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.02). AlTi Global had a positive return on equity of 7.36% and a negative net margin of 50.54%. The firm had revenue of $49.45 million during the quarter, compared to the consensus estimate of $51.80 million. Equities research analysts forecast that AlTi Global, Inc. will post -0.02 earnings per share for the current fiscal year.

Insider Transactions at AlTi Global

In other news, COO Kevin P. Moran sold 137,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $4.00, for a total value of $550,000.00. Following the transaction, the chief operating officer now directly owns 27,637 shares of the company’s stock, valued at $110,548. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, COO Kevin P. Moran sold 137,500 shares of AlTi Global stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $4.00, for a total value of $550,000.00. Following the completion of the transaction, the chief operating officer now directly owns 27,637 shares of the company’s stock, valued at $110,548. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Spiros Maliagros sold 5,769 shares of the stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $4.47, for a total transaction of $25,787.43. Following the sale, the insider now directly owns 405,167 shares in the company, valued at approximately $1,811,096.49. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders bought 68,597 shares of company stock valued at $269,227 and sold 167,067 shares valued at $673,109. Company insiders own 22.14% of the company’s stock.

Institutional Trading of AlTi Global

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in AlTi Global by 213.4% during the 1st quarter. Vanguard Group Inc. now owns 1,593,772 shares of the basic materials company’s stock worth $9,021,000 after buying an additional 1,085,308 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of AlTi Global by 89.9% during the second quarter. Bank of New York Mellon Corp now owns 106,440 shares of the basic materials company’s stock valued at $555,000 after acquiring an additional 50,379 shares during the period. Simon Quick Advisors LLC acquired a new position in shares of AlTi Global during the second quarter valued at $214,000. CV Advisors LLC bought a new position in AlTi Global in the third quarter valued at about $85,000. Finally, Rhumbline Advisers increased its position in AlTi Global by 109.2% in the second quarter. Rhumbline Advisers now owns 37,443 shares of the basic materials company’s stock worth $195,000 after purchasing an additional 19,547 shares during the period. 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.