AlTi Global (NASDAQ:ALTI) Shares Gap Down – Should You Sell?

AlTi Global, Inc. (NASDAQ:ALTIGet Free Report) gapped down before the market opened on Tuesday . The stock had previously closed at $4.30, but opened at $3.89. AlTi Global shares last traded at $4.0210, with a volume of 27,330 shares trading hands.

Analysts Set New Price Targets

ALTI has been the subject of a number of recent research reports. Zacks Research lowered shares of AlTi Global from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 14th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of AlTi Global in a report on Friday, July 17th. Two research analysts have rated the stock with a Sell rating, According to MarketBeat, the company currently has an average rating of “Sell”.

Read Our Latest Analysis on AlTi Global

AlTi Global Trading Down 4.9%

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 firm’s fifty day moving average is $3.44 and its two-hundred day moving average is $3.77. The firm has a market cap of $620.13 million, a P/E ratio of -2.90 and a beta of 0.71.

Institutional Investors Weigh In On AlTi Global

Hedge funds have recently bought and sold shares of the business. BNP Paribas Financial Markets grew its holdings in AlTi Global by 110.4% in the third quarter. BNP Paribas Financial Markets now owns 8,729 shares of the basic materials company’s stock worth $31,000 after purchasing an additional 4,581 shares during the period. Tower Research Capital LLC TRC boosted its position in shares of AlTi Global by 158.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 9,644 shares of the basic materials company’s stock worth $40,000 after purchasing an additional 5,912 shares in the last quarter. XTX Topco Ltd purchased a new stake in shares of AlTi Global in the 4th quarter worth approximately $63,000. AQR Capital Management LLC bought a new position in AlTi Global during the 1st quarter valued at approximately $42,000. Finally, The Manufacturers Life Insurance Company increased its position in AlTi Global by 25.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 18,157 shares of the basic materials company’s stock valued at $75,000 after buying an additional 3,679 shares in the last quarter. Institutional investors own 3.57% of the company’s stock.

AlTi Global Company Profile

(Get Free Report)

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.

Further Reading

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