AlTi Global (NASDAQ:ALTI) Shares Up 7.6% – Still a Buy?

Shares of AlTi Global, Inc. (NASDAQ:ALTI) shot up 7.6% during trading on Tuesday . The stock traded as high as $4.65 and last traded at $4.65. 85,906 shares were traded during mid-day trading, a decline of 43% from the average session volume of 151,752 shares. The stock had previously closed at $4.32.

AlTi Global Trading Up 8.1 %

The company has a debt-to-equity ratio of 0.21, a current ratio of 1.57 and a quick ratio of 1.57. The business’s 50-day moving average is $3.96 and its 200 day moving average is $4.41. The firm has a market capitalization of $653.01 million, a P/E ratio of -2.05 and a beta of 0.65.

AlTi Global (NASDAQ:ALTI) last announced its quarterly earnings data 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 negative net margin of 50.54% and a positive return on equity of 7.36%. The company had revenue of $49.45 million during the quarter, compared to analyst estimates of $51.80 million. As a group, analysts anticipate that AlTi Global, Inc. will post -0.02 EPS for the current fiscal year.

Insider Activity at AlTi Global

In related news, insider Spiros Maliagros sold 5,769 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $4.47, for a total value of $25,787.43. Following the transaction, the insider now owns 405,167 shares of the company’s stock, valued at approximately $1,811,096.49. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, major shareholder Holdings Ilwaddi purchased 27,515 shares of the stock in a transaction that occurred on Tuesday, August 13th. The shares were bought at an average price of $3.79 per share, with a total value of $104,281.85. Following the acquisition, the insider now owns 18,012,099 shares of the company’s stock, valued at $68,265,855.21. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Spiros Maliagros sold 5,769 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $4.47, for a total value of $25,787.43. Following the completion of the transaction, the insider now owns 405,167 shares in the company, valued at approximately $1,811,096.49. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have bought 68,597 shares of company stock worth $269,227 and have sold 165,067 shares worth $665,049. 22.14% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. CV Advisors LLC bought a new stake in AlTi Global in the 3rd quarter valued at about $85,000. SG Americas Securities LLC purchased a new position in AlTi Global in the 3rd quarter valued at approximately $63,000. The Manufacturers Life Insurance Company bought a new position in shares of AlTi Global in the second quarter worth $76,000. AlTi Global Inc. increased its holdings in AlTi Global by 1.5% during the 2nd quarter. AlTi Global Inc. now owns 772,186 shares of the basic materials company’s stock worth $4,023,000 after acquiring an additional 11,216 shares during the period. Finally, Simon Quick Advisors LLC bought a new stake in AlTi Global in the 2nd quarter worth approximately $214,000. Hedge funds and other institutional investors own 3.57% of the company’s stock.

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.