Short Interest in AlTi Global, Inc. (NASDAQ:ALTI) Declines By 15.2%

AlTi Global, Inc. (NASDAQ:ALTI) was the target of a significant decrease in short interest in October. As of October 31st, there was short interest totalling 1,060,000 shares, a decrease 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 sold short.

Insiders Place Their Bets

In related news, insider Spiros Maliagros sold 5,769 shares of AlTi Global stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $4.47, for a total value of $25,787.43. Following the transaction, the insider now owns 405,167 shares in the company, valued at $1,811,096.49. This trade represents a 1.40 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Kevin P. Moran sold 137,500 shares of the business’s stock in a transaction on Tuesday, August 20th. The stock was 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 of the company’s stock, valued at $110,548. This represents a 83.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 161,935 shares of company stock valued at $652,349 over the last quarter. 22.14% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On AlTi Global

A number of large investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in shares of 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 period. Geode Capital Management LLC boosted its position in AlTi Global by 41.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,080,189 shares of the basic materials company’s stock valued at $4,041,000 after buying an additional 318,860 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in AlTi Global by 58.3% in 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 acquiring an additional 159,357 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in AlTi Global by 89.9% in 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 acquiring an additional 50,379 shares during the last quarter. Finally, Simon Quick Advisors LLC purchased a new position in shares of AlTi Global in the second quarter valued at about $214,000. 3.57% of the stock is owned by hedge funds and other institutional investors.

AlTi Global Stock Down 0.9 %

ALTI opened at $4.39 on Monday. The company has a market cap of $613.85 million, a P/E ratio of -2.51 and a beta of 0.65. AlTi Global has a 12 month low of $3.47 and a 12 month high of $9.22. The business’s 50-day moving average price is $4.09 and its 200-day moving average price is $4.40. The company has a current ratio of 4.05, a quick ratio of 1.57 and a debt-to-equity ratio of 0.17.

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.