AlTi Global (NASDAQ:ALTI) Shares Up 4.2% – Still a Buy?

Shares of AlTi Global, Inc. (NASDAQ:ALTI) traded up 4.2% on Tuesday . The stock traded as high as $4.52 and last traded at $4.51. 32,447 shares were traded during mid-day trading, a decline of 78% from the average session volume of 148,848 shares. The stock had previously closed at $4.33.

AlTi Global Price Performance

The company has a debt-to-equity ratio of 0.17, a quick ratio of 4.05 and a current ratio of 4.05. The business has a 50 day moving average price of $4.30 and a 200-day moving average price of $4.37. The company has a market capitalization of $626.42 million, a price-to-earnings ratio of -2.64 and a beta of 0.72.

Insider Buying and Selling at AlTi Global

In related news, major shareholder Tiedemann Advisors, Llc purchased 306,127 shares of the firm’s stock in a transaction on Tuesday, October 1st. The stock was purchased at an average cost of $10.13 per share, with a total value of $3,101,066.51. Following the completion of the purchase, the insider now owns 6,485,038 shares in the company, valued at approximately $65,693,434.94. This trade represents a 4.95 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 22.14% of the company’s stock.

Institutional Trading of AlTi Global

Several large investors have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. raised its stake in AlTi Global by 58.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 432,617 shares of the basic materials company’s stock worth $1,618,000 after buying an additional 159,357 shares during the period. Bank of New York Mellon Corp increased its holdings 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 in the last quarter. Rhumbline Advisers increased its holdings in shares of AlTi Global by 109.2% during the second quarter. Rhumbline Advisers now owns 37,443 shares of the basic materials company’s stock valued at $195,000 after acquiring an additional 19,547 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of AlTi Global during the third quarter worth approximately $63,000. Finally, The Manufacturers Life Insurance Company bought a new position in shares of AlTi Global in the 2nd quarter worth $76,000. 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.