AlTi Global, Inc. (NASDAQ:ALTI), a wealth and asset management service provider, experienced a significant decrease in short interest during the month of August 2023. According to data from August 31st, there were 383,600 shares sold short, marking a decrease of 7.6% from the total of 415,000 shares reported on August 15th. Currently, approximately 1.6% of the company’s shares are sold short with a short-interest ratio of 3.6 days based on an average trading volume of 107,200 shares.
On Tuesday, ALTI’s shares opened at $6.07. The company’s 50-day moving average stands at $7.55 while its two-hundred day moving average is $8.04. With regards to liquidity ratios, AlTi Global has a quick ratio and current ratio both at 0.82 respectively. Additionally, it carries a debt-to-equity ratio of 0.17. Over the past year, the stock has traded within a range of $3.88 to $27.50.
A number of hedge funds and institutional investors have made adjustments to their positions in ALTI recently. Highbridge Capital Management LLC acquired a new position during the first quarter valued at approximately $436,000 while Goldman Sachs Group Inc., Barclays PLC, Marshall Wace LLP, and MetLife Investment Management LLC purchased new stakes amounting to $118,000, $116,000, $115,000 and $92,000 respectively in the second quarter. These transactions account for approximately 9.02% ownership of ALTI by institutional investors and hedge funds.
Being primarily engaged in wealth and asset management services for individuals as well as institutions globally including foundations and families in the United States; AlTi Global offers various services such as discretionary investment management advisory services as well as trust and administration services alongside family office services including wealth transfer planning, multi-generational education planning, wealth and asset strategy, trust and fiduciary services among others.
In terms of financial performance, AlTi Global (NASDAQ:ALTI) last reported its quarterly earnings on Tuesday, August 15th. The basic materials company revealed earnings per share (EPS) of $0.01 for the quarter which fell short of the consensus estimate by ($0.08). The company had a revenue of $51.88 million during the same period against the projected estimate of $67.50 million. Industry analysts currently predict that AlTi Global will post a EPS standing at 0.06 for the current fiscal year.
Raymond James Financial, Inc.
RJF
Strong Buy
Updated on: 28/09/2023
Financial Health
Very Healthy
Debt to equity ratio: Strong Buy
Price to earnings ratio: Strong Buy
Price to book ratio: Strong Buy
DCF: Strong Buy
ROE: Neutral
AlTi Global, Inc: A Trusted Partner for Wealth and Asset Management Services
AlTi Global, Inc: A Leading Provider of Wealth and Asset Management Services
September 19, 2023
&AlTi Global, Inc is a prominent wealth and asset management firm catering to individuals, families, foundations, and institutions in the United States and internationally. With a wide range of services designed to meet the unique needs of its clients, AlTi Global has established itself as a trusted partner in managing wealth and assets.
One of the key services provided by AlTi Global is discretionary investment management. This offering allows clients to entrust their investments to highly skilled professionals who make informed decisions on their behalf. The company’s team of experts carefully analyzes market trends and assesses potential risks and rewards to optimize portfolio performance.
In addition to discretionary investment management, AlTi Global offers non-discretionary investment advisory services. This option allows clients to receive valuable guidance on investment opportunities without handing over control of their assets. By providing expert insights and recommendations tailored to individual goals and risk appetites, AlTi Global helps clients make informed investment decisions.
Trust and administration services are another crucial aspect of AlTi Global’s offerings. The company assists clients in establishing trusts and provides comprehensive administrative support throughout the lifetime of these arrangements. From trust creation to efficient fiduciary oversight, AlTi Global ensures that clients’ assets are safeguarded according to their wishes.
Family offices have become increasingly popular among affluent families seeking holistic wealth management solutions. Understanding this growing trend, AlTi Global offers family office services that encompass various aspects of comprehensive financial planning. These services include wealth transfer planning, multi-generational education planning, trust and fiduciary oversight, outsourced chief financial officers for families with complex financial structures, philanthropy advisory services, as well as lifestyle and special project management.
It is worth noting that Raymond James recently downgraded its rating on AlTi Global from “strong-buy” to “market perform” in a research report released on July 12th. While this may have caused some perplexity among investors, it is essential to consider that ratings are subjective and should not overshadow the company’s long-standing reputation and extensive range of services.
In conclusion, AlTi Global, Inc stands out as a leading provider of wealth and asset management services. With its diverse service offerings, including discretionary investment management, non-discretionary investment advisory, trust and administration services, as well as comprehensive family office solutions, the company caters to the needs of a wide range of clientele. While recent downgrade by Raymond James may raise some eyebrows, it is important for investors to conduct their own due diligence and consider AlTi Global’s proven track record in delivering exceptional wealth management solutions.
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