AlTi Global (NASDAQ:ALTI) Shares Gap Down – Time to Sell?

AlTi Global, Inc. (NASDAQ:ALTI) shares 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 traded.

AlTi Global Stock Down 0.5 %

The company has a market capitalization of $611.04 million, a price-to-earnings ratio of -2.50 and a beta of 0.72. The firm’s 50 day moving average price is $4.39 and its two-hundred day moving average price is $4.34. The company has a current ratio of 4.05, a quick ratio of 4.05 and a debt-to-equity ratio of 0.17.

Insider Transactions at AlTi Global

In related news, major shareholder Tiedemann Advisors, Llc purchased 306,127 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were bought at an average price of $10.13 per share, for a total transaction of $3,101,066.51. Following the completion of the transaction, the insider now owns 6,485,038 shares of the company’s stock, valued at approximately $65,693,434.94. This trade represents a 4.95 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. 22.14% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in ALTI. Bank of New York Mellon Corp increased its stake 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 in the last quarter. Rhumbline Advisers boosted its holdings in AlTi Global by 109.2% during the 2nd quarter. Rhumbline Advisers now owns 37,443 shares of the basic materials company’s stock worth $195,000 after acquiring an additional 19,547 shares during the last quarter. Simon Quick Advisors LLC bought a new stake in shares of AlTi Global in the 2nd quarter worth $214,000. AlTi Global Inc. raised its holdings in shares of AlTi Global by 1.5% in the second quarter. AlTi Global Inc. now owns 772,186 shares of the basic materials company’s stock valued at $4,023,000 after purchasing an additional 11,216 shares during the last quarter. Finally, The Manufacturers Life Insurance Company bought a new position in shares of AlTi Global during the second quarter valued at about $76,000. Institutional investors own 3.57% of the company’s stock.

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.