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

AlTi Global, Inc. (NASDAQ:ALTI - Get Free Report) was the recipient of a large decline in short interest in October. As of October 31st, there was short interest totalling 1,060,000 shares, a decline of 15.2% from the October 15th total of 1,250,000 shares. Approximately 3.5% of the company's stock are sold short. Based on an average daily trading volume, of 173,100 shares, the short-interest ratio is currently 6.1 days.

Insider Activity

In other news, insider Spiros Maliagros sold 5,769 shares of AlTi Global stock in a transaction dated Tuesday, September 17th. The stock was 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 of the company's stock, valued at $1,811,096.49. The trade was a 1.40 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Kevin P. Moran sold 137,500 shares of the company's stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $4.00, for a total transaction of $550,000.00. Following the completion of the transaction, the chief operating officer now owns 27,637 shares in the company, valued at approximately $110,548. The trade was a 83.26 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 161,935 shares of company stock worth $652,349. Corporate insiders own 22.14% of the company's stock.

Hedge Funds Weigh In On AlTi Global

A number of hedge funds have recently added to or reduced their stakes in ALTI. SG Americas Securities LLC bought a new position in AlTi Global during the 3rd quarter valued at about $63,000. The Manufacturers Life Insurance Company bought a new position in AlTi Global during the second quarter valued at approximately $76,000. MetLife Investment Management LLC boosted its holdings in AlTi Global by 129.1% in the third quarter. MetLife Investment Management LLC now owns 21,002 shares of the basic materials company's stock worth $79,000 after purchasing an additional 11,834 shares during the last quarter. CV Advisors LLC bought a new stake in AlTi Global in the 3rd quarter worth approximately $85,000. Finally, Barclays PLC raised its stake in AlTi Global by 264.8% during the 3rd quarter. Barclays PLC now owns 44,457 shares of the basic materials company's stock valued at $167,000 after buying an additional 32,269 shares during the last quarter. 3.57% of the stock is currently owned by hedge funds and other institutional investors.

AlTi Global Stock Down 0.9 %

AlTi Global stock traded down $0.04 during trading hours on Friday, hitting $4.39. The stock had a trading volume of 128,230 shares, compared to its average volume of 151,669. The stock's 50-day moving average price is $4.09 and its 200-day moving average price is $4.41. AlTi Global has a 12-month low of $3.47 and a 12-month high of $9.22. The company has a quick ratio of 1.57, a current ratio of 4.05 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $613.84 million, a P/E ratio of -2.51 and a beta of 0.65.

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.