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

AlTi Global, Inc. (NASDAQ:ALTI - Get Free Report) was the target of a significant growth in short interest in the month of March. As of March 15th, there was short interest totalling 1,110,000 shares, a growth of 30.3% from the February 28th total of 851,800 shares. Based on an average daily volume of 109,800 shares, the days-to-cover ratio is presently 10.1 days. Currently, 2.1% of the company's stock are sold short.

Hedge Funds Weigh In On AlTi Global

Institutional investors have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. increased its stake in shares of AlTi Global by 58.3% in the third 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 last quarter. MetLife Investment Management LLC grew its holdings in AlTi Global by 129.1% during the 3rd quarter. MetLife Investment Management LLC now owns 21,002 shares of the basic materials company's stock worth $79,000 after acquiring an additional 11,834 shares in the last quarter. State Street Corp increased its position in shares of AlTi Global by 5.6% in the 3rd quarter. State Street Corp now owns 540,213 shares of the basic materials company's stock worth $2,020,000 after purchasing an additional 28,689 shares during the last quarter. Barclays PLC raised its stake in shares of AlTi Global by 264.8% in the 3rd quarter. Barclays PLC now owns 44,457 shares of the basic materials company's stock valued at $167,000 after purchasing an additional 32,269 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of AlTi Global by 41.9% during the third quarter. Geode Capital Management LLC now owns 1,080,189 shares of the basic materials company's stock worth $4,041,000 after purchasing an additional 318,860 shares during the last quarter. 3.57% of the stock is owned by institutional investors and hedge funds.

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AlTi Global Stock Down 4.9 %

AlTi Global stock traded down $0.15 during midday trading on Thursday, hitting $2.89. 106,882 shares of the stock were exchanged, compared to its average volume of 143,384. AlTi Global has a 1 year low of $2.33 and a 1 year high of $5.45. The company has a debt-to-equity ratio of 0.17, a current ratio of 4.05 and a quick ratio of 4.05. The firm has a market cap of $411.07 million, a P/E ratio of -1.65 and a beta of 0.73. The company has a 50 day moving average price of $3.39 and a two-hundred day moving average price of $3.93.

AlTi Global (NASDAQ:ALTI - Get Free Report) last announced its 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). The business had revenue of $53.33 million for the quarter, compared to analysts' expectations of $74.60 million. AlTi Global had a positive return on equity of 2.31% and a negative net margin of 41.51%. During the same period in the previous year, the firm posted ($0.88) earnings per share. On average, sell-side analysts predict that AlTi Global will post -0.14 earnings per share for the current fiscal year.

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.