AlTi Global, Inc. (NASDAQ:ALTI) Short Interest Down 13.3% in June

AlTi Global, Inc. (NASDAQ:ALTI) was the target of a large decrease in short interest during the month of June. As of June 15th, there was short interest totalling 591,700 shares, a decrease of 13.3% from the May 31st total of 682,200 shares. Currently, 1.8% of the company’s stock are short sold. Based on an average trading volume of 131,100 shares, the short-interest ratio is currently 4.5 days.

AlTi Global Trading Up 6.1 %

Shares of ALTI stock opened at $5.21 on Monday. The company has a current ratio of 2.33, a quick ratio of 2.33 and a debt-to-equity ratio of 0.23. AlTi Global has a 1 year low of $4.22 and a 1 year high of $9.22. The firm’s fifty day simple moving average is $4.80 and its 200 day simple moving average is $5.77. The firm has a market capitalization of $625.25 million, a P/E ratio of -2.85 and a beta of 0.69.

AlTi Global (NASDAQ:ALTI) last released its earnings results on Friday, May 10th. The basic materials company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.05). The company had revenue of $50.81 million during the quarter, compared to the consensus estimate of $61.50 million. AlTi Global had a negative net margin of 29.75% and a positive return on equity of 7.45%. As a group, sell-side analysts predict that AlTi Global will post -0.02 EPS for the current year.

Insider Activity

In other news, CEO Michael Tiedemann acquired 60,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The stock was acquired at an average cost of $4.66 per share, with a total value of $279,600.00. Following the acquisition, the chief executive officer now owns 369,146 shares in the company, valued at $1,720,220.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other AlTi Global news, major shareholder Holdings Ilwaddi purchased 20,000 shares of the company’s stock in a transaction on Thursday, June 6th. The shares were bought at an average cost of $4.72 per share, with a total value of $94,400.00. Following the transaction, the insider now directly owns 17,984,584 shares in the company, valued at approximately $84,887,236.48. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Michael Tiedemann purchased 60,000 shares of the business’s stock in a transaction dated Thursday, May 16th. The shares were acquired at an average price of $4.66 per share, with a total value of $279,600.00. Following the completion of the acquisition, the chief executive officer now owns 369,146 shares of the company’s stock, valued at $1,720,220.36. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 268,790 shares of company stock valued at $1,290,301 and have sold 29,725 shares valued at $150,063. 22.14% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in AlTi Global by 213.4% in the 1st quarter. Vanguard Group Inc. now owns 1,593,772 shares of the basic materials company’s stock valued at $9,021,000 after buying an additional 1,085,308 shares during the period. Caprock Group LLC boosted its position in shares of AlTi Global by 11.3% during the 1st quarter. Caprock Group LLC now owns 38,928 shares of the basic materials company’s stock valued at $220,000 after acquiring an additional 3,950 shares in the last quarter. Finally, Swiss National Bank increased its stake in AlTi Global by 9.4% in the fourth quarter. Swiss National Bank now owns 55,867 shares of the basic materials company’s stock valued at $489,000 after acquiring an additional 4,800 shares during the period. 3.57% of the stock is currently owned by institutional investors and hedge funds.

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.