AlTi Global, Inc. (NASDAQ:ALTI) Sees Large Increase in Short Interest

AlTi Global, Inc. (NASDAQ:ALTI) was the target of a large increase in short interest during the month of March. As of March 15th, there was short interest totalling 1,110,000 shares, an increase of 30.3% from the February 28th total of 851,800 shares. Currently, 2.1% of the shares of the stock are sold short. Based on an average trading volume of 109,800 shares, the short-interest ratio is currently 10.1 days.

AlTi Global Trading Up 3.9 %

ALTI stock opened at $3.16 on Wednesday. The business has a fifty day moving average price of $3.43 and a 200 day moving average price of $3.94. The company has a debt-to-equity ratio of 0.17, a current ratio of 4.05 and a quick ratio of 4.05. AlTi Global has a fifty-two week low of $2.33 and a fifty-two week high of $5.45. The stock has a market capitalization of $449.48 million, a price-to-earnings ratio of -1.81 and a beta of 0.73.

AlTi Global (NASDAQ:ALTI) last released its quarterly earnings results on Thursday, March 13th. The basic materials company reported ($0.63) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.65). AlTi Global had a negative net margin of 41.51% and a positive return on equity of 2.31%. The business had revenue of $53.33 million during the quarter, compared to the consensus estimate of $74.60 million. During the same period in the prior year, the firm earned ($0.88) earnings per share. Analysts expect that AlTi Global will post -0.14 EPS for the current fiscal year.

Hedge Funds Weigh In On AlTi Global

A number of large investors have recently modified their holdings of ALTI. BNP Paribas Financial Markets bought a new position in shares of AlTi Global in the 4th quarter worth $25,000. Dimensional Fund Advisors LP acquired a new position in shares of AlTi Global during the 4th quarter worth about $44,000. Intech Investment Management LLC bought a new stake in AlTi Global in the 4th quarter valued at $46,000. Invesco Ltd. acquired a new stake in shares of AlTi Global during the 4th quarter worth about $46,000. Finally, Granite FO LLC boosted its stake in AlTi Global by 216.6% in the 4th quarter. Granite FO LLC now owns 15,830 shares of the basic materials company’s stock valued at $70,000 after purchasing an additional 10,830 shares during the period. 3.57% of the stock is currently owned by institutional investors and hedge funds.

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.