AlTi Global (NASDAQ:ALTI) Shares Gap Down – Here’s What Happened

AlTi Global, Inc. (NASDAQ:ALTI)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $4.39, but opened at $4.22. AlTi Global shares last traded at $4.29, with a volume of 9,479 shares trading hands.

AlTi Global Stock Performance

The company has a 50-day moving average of $4.39 and a 200 day moving average of $4.34. The firm has a market capitalization of $611.04 million, a PE ratio of -2.50 and a beta of 0.72. 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 at AlTi Global

In other news, major shareholder Tiedemann Advisors, Llc bought 306,127 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The stock was bought at an average price of $10.13 per share, for a total transaction of $3,101,066.51. Following the transaction, the insider now directly owns 6,485,038 shares of the company’s stock, valued at $65,693,434.94. This represents a 4.95 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 22.14% of the stock is currently owned by insiders.

Institutional Investors Weigh In On AlTi Global

Hedge funds have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. boosted its position in AlTi Global by 58.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 432,617 shares of the basic materials company’s stock valued at $1,618,000 after buying an additional 159,357 shares during the period. Bank of New York Mellon Corp lifted its position in AlTi Global by 89.9% in the second quarter. Bank of New York Mellon Corp now owns 106,440 shares of the basic materials company’s stock valued at $555,000 after purchasing an additional 50,379 shares during the last quarter. Rhumbline Advisers boosted its stake in shares of AlTi Global by 109.2% during the second quarter. Rhumbline Advisers now owns 37,443 shares of the basic materials company’s stock valued at $195,000 after purchasing an additional 19,547 shares during the period. SG Americas Securities LLC purchased a new position in shares of AlTi Global in the third quarter worth $63,000. Finally, The Manufacturers Life Insurance Company bought a new stake in AlTi Global during the 2nd quarter valued at $76,000. 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.