AlTi Global, Inc. (NASDAQ:ALTI) Short Interest Up 6.6% in September

AlTi Global, Inc. (NASDAQ:ALTI) saw a significant increase in short interest in the month of September. As of September 15th, there was short interest totalling 891,300 shares, an increase of 6.6% from the August 31st total of 836,400 shares. Based on an average daily trading volume, of 201,600 shares, the short-interest ratio is currently 4.4 days. Currently, 2.7% of the company’s stock are short sold.

AlTi Global Stock Performance

Shares of ALTI stock opened at $3.64 on Wednesday. AlTi Global has a 12-month low of $3.51 and a 12-month high of $9.22. The business’s fifty day simple moving average is $4.14 and its 200-day simple moving average is $4.63. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.21. The company has a market cap of $436.83 million, a PE ratio of -1.99 and a beta of 0.68.

AlTi Global (NASDAQ:ALTI) last announced its earnings results on Friday, August 9th. The basic materials company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.02). AlTi Global had a negative net margin of 50.54% and a positive return on equity of 7.36%. The business had revenue of $49.45 million for the quarter, compared to analyst estimates of $51.80 million. Analysts expect that AlTi Global will post -0.02 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Spiros Maliagros sold 5,769 shares of AlTi Global stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $4.47, for a total value of $25,787.43. Following the transaction, the insider now directly owns 405,167 shares in the company, valued at approximately $1,811,096.49. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other AlTi Global news, insider Spiros Maliagros sold 5,769 shares of the stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $4.47, for a total transaction of $25,787.43. Following the completion of the sale, the insider now directly owns 405,167 shares of the company’s stock, valued at $1,811,096.49. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Holdings Ilwaddi purchased 31,393 shares of the stock in a transaction dated Thursday, August 15th. The stock was purchased at an average price of $4.05 per share, for a total transaction of $127,141.65. Following the completion of the acquisition, the insider now directly owns 18,094,972 shares in the company, valued at approximately $73,284,636.60. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 68,597 shares of company stock worth $269,227 and sold 180,668 shares worth $738,899. 22.14% of the stock is owned by company insiders.

Hedge Funds Weigh In On AlTi Global

Several hedge funds have recently modified their holdings of ALTI. The Manufacturers Life Insurance Company purchased a new stake in AlTi Global during the 2nd quarter worth approximately $76,000. AlTi Global Inc. lifted its stake in shares of AlTi Global by 1.5% during the second quarter. AlTi Global Inc. now owns 772,186 shares of the basic materials company’s stock worth $4,023,000 after buying an additional 11,216 shares during the period. Simon Quick Advisors LLC purchased a new stake in shares of AlTi Global during the second quarter valued at $214,000. Rhumbline Advisers increased its position in shares of AlTi Global by 109.2% in the 2nd quarter. Rhumbline Advisers now owns 37,443 shares of the basic materials company’s stock valued at $195,000 after acquiring an additional 19,547 shares during the period. Finally, Bank of New York Mellon Corp raised its stake 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. Institutional investors and hedge funds 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.