AlTi Global, Inc. (NASDAQ:ALTI – Get Free Report)’s stock price was down 7.2% on Monday . The stock traded as low as $6.15 and last traded at $6.29. Approximately 23,940 shares changed hands during mid-day trading, a decline of 79% from the average daily volume of 116,113 shares. The stock had previously closed at $6.78.
Analyst Upgrades and Downgrades
Separately, Raymond James downgraded shares of AlTi Global from a “strong-buy” rating to a “market perform” rating in a report on Wednesday, July 12th.
AlTi Global Trading Down 8.4 %
AlTi Global (NASDAQ:ALTI – Get Free Report) last issued its earnings results on Tuesday, August 15th. The basic materials company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.08). The firm had revenue of $51.88 million for the quarter, compared to analyst estimates of $67.50 million. On average, equities analysts predict that AlTi Global, Inc. will post 0.06 earnings per share for the current fiscal year.
Institutional Trading of AlTi Global
Several hedge funds and other institutional investors have recently made changes to their positions in ALTI. Citigroup Inc. lifted its stake in shares of AlTi Global by 50.8% in the second quarter. Citigroup Inc. now owns 6,774 shares of the basic materials company’s stock valued at $52,000 after purchasing an additional 2,281 shares during the period. Cubist Systematic Strategies LLC acquired a new position in AlTi Global during the first quarter worth about $63,000. Wells Fargo & Company MN raised its position in AlTi Global by 5,430.2% during the second quarter. Wells Fargo & Company MN now owns 8,793 shares of the basic materials company’s stock worth $67,000 after acquiring an additional 8,634 shares during the last quarter. American International Group Inc. acquired a new position in AlTi Global during the second quarter worth about $78,000. Finally, MetLife Investment Management LLC acquired a new position in AlTi Global during the second quarter worth about $92,000. Institutional investors and hedge funds own 9.02% 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 and internationally. The company offers discretionary investment management, non-discretionary investment advisory, trust, and administration services, as well as family office services comprising wealth transfer planning, multi-generational education planning, wealth and asset strategy, trust and fiduciary, chief financial officers and outsourced family office, philanthropy, and lifestyle and special projects services.
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