AlTi Global, Inc. (NASDAQ:ALTI) Sees Significant Drop in Short Interest

AlTi Global, Inc. (NASDAQ:ALTI) saw a significant drop in short interest in July. As of July 31st, there was short interest totalling 1,010,000 shares, a drop of 6.5% from the July 15th total of 1,080,000 shares. Currently, 3.1% of the company’s stock are short sold. Based on an average trading volume of 173,100 shares, the short-interest ratio is presently 5.8 days.

Insider Buying and Selling at AlTi Global

In other news, CEO Michael Tiedemann bought 20,000 shares of the stock in a transaction on Thursday, May 23rd. The stock was bought at an average cost of $4.52 per share, for a total transaction of $90,400.00. Following the completion of the purchase, the chief executive officer now directly owns 472,514 shares in the company, valued at $2,135,763.28. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Michael Tiedemann bought 20,000 shares of the stock in a transaction on Thursday, May 23rd. The stock was bought at an average cost of $4.52 per share, for a total transaction of $90,400.00. Following the completion of the purchase, the chief executive officer now directly owns 472,514 shares in the company, valued at $2,135,763.28. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Spiros Maliagros sold 5,769 shares of AlTi Global stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $4.74, for a total transaction of $27,345.06. Following the sale, the insider now owns 479,478 shares of the company’s stock, valued at $2,272,725.72. The disclosure for this sale can be found here. Over the last three months, insiders bought 166,281 shares of company stock worth $746,256 and sold 40,152 shares worth $191,194. 22.14% of the stock is owned by insiders.

Institutional Trading of AlTi Global

Institutional investors and hedge funds have recently modified their holdings of the stock. The Manufacturers Life Insurance Company purchased a new stake in shares of AlTi Global during the second quarter worth about $76,000. Rhumbline Advisers increased 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 worth $195,000 after purchasing an additional 19,547 shares in the last quarter. Caprock Group LLC increased its stake in shares of AlTi Global by 11.3% during the first quarter. Caprock Group LLC now owns 38,928 shares of the basic materials company’s stock worth $220,000 after purchasing an additional 3,950 shares in the last quarter. Simon Quick Advisors LLC purchased a new stake in AlTi Global during the 2nd quarter valued at about $214,000. Finally, Swiss National Bank grew its stake in AlTi Global by 9.4% during the 4th 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 in the last quarter. Hedge funds and other institutional investors own 3.57% of the company’s stock.

AlTi Global Stock Down 1.0 %

ALTI opened at $4.06 on Tuesday. The stock has a market capitalization of $487.23 million, a price-to-earnings ratio of -2.22 and a beta of 0.71. The company has a fifty day moving average of $4.65 and a two-hundred day moving average of $5.04. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.33 and a current ratio of 2.33. AlTi Global has a fifty-two week low of $3.56 and a fifty-two week high of $9.22.

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.