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

AlTi Global, Inc. (NASDAQ:ALTI) 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 changing hands.

AlTi Global Price Performance

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 company has a market cap of $553.24 million, a P/E ratio of -2.57 and a beta of 0.71. The company has a fifty day moving average price of $4.77 and a two-hundred day moving average price of $5.57.

AlTi Global (NASDAQ:ALTI) last posted its quarterly earnings results on Friday, May 10th. The basic materials company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.05). AlTi Global had a positive return on equity of 7.45% and a negative net margin of 29.75%. The business had revenue of $50.81 million for the quarter, compared to the consensus estimate of $61.50 million. On average, sell-side analysts anticipate that AlTi Global, Inc. will post -0.02 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Spiros Maliagros sold 5,769 shares of AlTi Global stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $4.49, for a total transaction of $25,902.81. Following the completion of the transaction, the insider now owns 473,709 shares in the company, valued at $2,126,953.41. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Spiros Maliagros sold 5,769 shares of the company’s stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $4.49, for a total value of $25,902.81. Following the transaction, the insider now owns 473,709 shares of the company’s stock, valued at $2,126,953.41. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Holdings Ilwaddi bought 20,000 shares of the stock in a transaction dated Tuesday, June 4th. The shares were purchased at an average price of $4.99 per share, for a total transaction of $99,800.00. Following the purchase, the insider now owns 17,953,265 shares of the company’s stock, valued at approximately $89,586,792.35. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 223,790 shares of company stock worth $1,051,551 and sold 26,263 shares worth $127,261. 22.14% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On AlTi Global

Several institutional investors and hedge funds have recently modified their holdings of ALTI. Swiss National Bank grew its stake in shares of AlTi Global by 9.4% in the fourth quarter. Swiss National Bank now owns 55,867 shares of the basic materials company’s stock valued at $489,000 after acquiring an additional 4,800 shares in the last quarter. Caprock Group LLC grew its stake in shares of AlTi Global by 11.3% in the first quarter. Caprock Group LLC now owns 38,928 shares of the basic materials company’s stock valued at $220,000 after acquiring an additional 3,950 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of AlTi Global by 213.4% in the first quarter. Vanguard Group Inc. now owns 1,593,772 shares of the basic materials company’s stock valued at $9,021,000 after acquiring an additional 1,085,308 shares in the last quarter. 3.57% of the stock is currently owned by institutional investors and hedge funds.

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.