Short Interest in AlTi Global, Inc. (NASDAQ:ALTI) Increases By 6.6%

AlTi Global, Inc. (NASDAQ:ALTI) was the recipient of a large growth in short interest during the month of September. As of September 15th, there was short interest totalling 891,300 shares, a growth of 6.6% from the August 31st total of 836,400 shares. Based on an average daily volume of 201,600 shares, the short-interest ratio is presently 4.4 days. Approximately 2.7% of the shares of the stock are sold short.

AlTi Global Price Performance

ALTI opened at $3.74 on Tuesday. The firm has a market cap of $448.83 million, a price-to-earnings ratio of -2.04 and a beta of 0.68. AlTi Global has a fifty-two week low of $3.54 and a fifty-two week high of $9.22. The company’s 50-day moving average price is $4.16 and its 200 day moving average price is $4.65. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.21.

AlTi Global (NASDAQ:ALTI) last posted its earnings results on Friday, August 9th. The basic materials company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.02). AlTi Global had a positive return on equity of 7.36% and a negative net margin of 50.54%. The firm had revenue of $49.45 million during the quarter, compared to the consensus estimate of $51.80 million. As a group, sell-side analysts expect that AlTi Global will post -0.02 earnings per share for the current year.

Insider Buying and Selling

In other AlTi Global news, COO Kevin P. Moran sold 137,500 shares of AlTi Global stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $4.00, for a total value of $550,000.00. Following the completion of the sale, the chief operating officer now directly owns 27,637 shares of the company’s stock, valued at approximately $110,548. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, major shareholder Holdings Ilwaddi bought 27,515 shares of the business’s stock in a transaction dated Tuesday, August 13th. The shares were acquired at an average price of $3.79 per share, for a total transaction of $104,281.85. Following the purchase, the insider now owns 18,012,099 shares in the company, valued at approximately $68,265,855.21. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Kevin P. Moran sold 137,500 shares of the company’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $4.00, for a total transaction of $550,000.00. Following the completion of the sale, the chief operating officer now owns 27,637 shares in the company, valued at approximately $110,548. The disclosure for this sale can be found here. In the last ninety days, insiders purchased 68,597 shares of company stock worth $269,227 and sold 180,668 shares worth $738,899. Insiders own 22.14% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ALTI. Vanguard Group Inc. lifted its stake in AlTi Global by 213.4% during the first quarter. Vanguard Group Inc. now owns 1,593,772 shares of the basic materials company’s stock valued at $9,021,000 after purchasing an additional 1,085,308 shares during the last quarter. AlTi Global Inc. lifted its position in AlTi Global by 1.5% in the 2nd quarter. AlTi Global Inc. now owns 772,186 shares of the basic materials company’s stock worth $4,023,000 after buying an additional 11,216 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of AlTi Global by 89.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 106,440 shares of the basic materials company’s stock worth $555,000 after purchasing an additional 50,379 shares during the last quarter. Swiss National Bank increased its stake in shares of AlTi Global by 9.4% during the 4th quarter. Swiss National Bank now owns 55,867 shares of the basic materials company’s stock worth $489,000 after purchasing an additional 4,800 shares during the last quarter. Finally, Simon Quick Advisors LLC acquired a new position in shares of AlTi Global during the 2nd quarter worth $214,000. 3.57% of the stock is currently owned by institutional investors.

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.