AlTi Global (NASDAQ:ALTI) Trading 4.2% Higher - Still a Buy?

AlTi Global, Inc. (NASDAQ:ALTI - Get Free Report)'s share price rose 4.2% on Tuesday . The stock traded as high as $4.52 and last traded at $4.51. Approximately 32,447 shares traded hands during mid-day trading, a decline of 78% from the average daily volume of 148,848 shares. The stock had previously closed at $4.33.

AlTi Global Trading Up 3.5 %

The company has a market cap of $626.42 million, a P/E ratio of -2.56 and a beta of 0.72. The firm's 50 day moving average is $4.32 and its two-hundred day moving average is $4.37. The company has a quick ratio of 4.05, a current ratio of 4.05 and a debt-to-equity ratio of 0.17.

Insider Activity

In other AlTi Global 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, for a total transaction of $3,101,066.51. Following the acquisition, the insider now owns 6,485,038 shares in the company, valued at approximately $65,693,434.94. The trade was a 4.95 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 22.14% of the company's stock.

Institutional Investors Weigh In On AlTi Global

Several large investors have recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. boosted its holdings in shares of 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 in the last quarter. Bank of New York Mellon Corp boosted its stake in 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 worth $555,000 after acquiring an additional 50,379 shares in the last quarter. Rhumbline Advisers grew its holdings in AlTi Global by 109.2% in the second quarter. Rhumbline Advisers now owns 37,443 shares of the basic materials company's stock worth $195,000 after purchasing an additional 19,547 shares during the period. SG Americas Securities LLC acquired a new position in shares of AlTi Global during the third quarter valued at about $63,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in AlTi Global in the 2nd quarter valued at $76,000. Institutional investors and hedge funds 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.