AlTi Global, Inc. (NASDAQ:ALTI) Sees Significant Drop in Short Interest

AlTi Global, Inc. (NASDAQ:ALTI) was the target of a significant drop in short interest in October. As of October 31st, there was short interest totalling 1,060,000 shares, a drop of 15.2% from the October 15th total of 1,250,000 shares. Based on an average daily trading volume, of 173,100 shares, the days-to-cover ratio is currently 6.1 days. Currently, 3.5% of the shares of the stock are short sold.

Insider Activity at AlTi Global

In related news, COO Kevin P. Moran sold 137,500 shares of the firm’s stock in a transaction that occurred on 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 directly owns 27,637 shares in the company, valued at approximately $110,548. This trade represents a 83.26 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Spiros Maliagros sold 5,769 shares of AlTi Global stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $4.47, for a total transaction of $25,787.43. Following the completion of the transaction, the insider now owns 405,167 shares in the company, valued at approximately $1,811,096.49. This trade represents a 1.40 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 161,935 shares of company stock valued at $652,349 over the last 90 days. 22.14% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in ALTI. SG Americas Securities LLC acquired a new stake in AlTi Global during the 3rd quarter valued at $63,000. The Manufacturers Life Insurance Company acquired a new position in shares of AlTi Global in the second quarter worth $76,000. MetLife Investment Management LLC raised its holdings in shares of AlTi Global by 129.1% during the third 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. CV Advisors LLC acquired a new stake in shares of AlTi Global during the 3rd quarter valued at about $85,000. Finally, Barclays PLC grew its position in AlTi Global by 264.8% in the third quarter. Barclays PLC now owns 44,457 shares of the basic materials company’s stock worth $167,000 after acquiring an additional 32,269 shares in the last quarter. 3.57% of the stock is currently owned by institutional investors and hedge funds.

AlTi Global Trading Down 0.9 %

NASDAQ:ALTI opened at $4.39 on Friday. The stock has a fifty day simple moving average of $4.09 and a 200 day simple moving average of $4.41. The firm has a market capitalization of $613.84 million, a price-to-earnings ratio of -2.51 and a beta of 0.65. AlTi Global has a 1-year low of $3.47 and a 1-year 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.

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.