The Manufacturers Life Insurance Company Takes Position in AlTi Global, Inc. (NASDAQ:ALTI)

The Manufacturers Life Insurance Company bought a new stake in AlTi Global, Inc. (NASDAQ:ALTI) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 14,626 shares of the basic materials company’s stock, valued at approximately $76,000.

Several other institutional investors and hedge funds also recently made changes to their positions in ALTI. AlTi Global Inc. increased its holdings in AlTi Global by 1.5% in the second quarter. AlTi Global Inc. now owns 772,186 shares of the basic materials company’s stock valued at $4,023,000 after purchasing an additional 11,216 shares during the period. Simon Quick Advisors LLC bought a new position in AlTi Global during the second quarter worth $214,000. Rhumbline Advisers grew its holdings in AlTi Global by 109.2% during the 2nd quarter. Rhumbline Advisers now owns 37,443 shares of the basic materials company’s stock worth $195,000 after acquiring an additional 19,547 shares during the period. Bank of New York Mellon Corp boosted its position in shares of AlTi Global by 89.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 106,440 shares of the basic materials company’s stock valued at $555,000 after purchasing an additional 50,379 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of 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 acquiring an additional 1,085,308 shares in the last quarter. Institutional investors and hedge funds own 3.57% of the company’s stock.

Insider Activity

In related news, insider Spiros Maliagros sold 5,769 shares of the company’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $4.86, for a total value of $28,037.34. Following the transaction, the insider now owns 450,633 shares in the company, valued at approximately $2,190,076.38. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Spiros Maliagros sold 5,769 shares of AlTi Global stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $4.86, for a total value of $28,037.34. Following the completion of the transaction, the insider now directly owns 450,633 shares in the company, valued at approximately $2,190,076.38. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Holdings Ilwaddi bought 31,393 shares of the stock in a transaction on Thursday, August 15th. The shares were acquired at an average cost of $4.05 per share, for a total transaction of $127,141.65. Following the acquisition, the insider now directly owns 18,094,972 shares in the company, valued at approximately $73,284,636.60. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 68,597 shares of company stock valued at $269,227 and sold 173,120 shares valued at $704,101. Insiders own 22.14% of the company’s stock.

AlTi Global Price Performance

Shares of NASDAQ:ALTI opened at $3.90 on Monday. The firm has a market capitalization of $468.03 million, a price-to-earnings ratio of -2.13 and a beta of 0.67. The stock’s 50 day moving average is $3.96 and its 200-day moving average is $4.46. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.21. AlTi Global, Inc. has a twelve month low of $3.47 and a twelve month high of $9.22.

AlTi Global (NASDAQ:ALTI) last released its quarterly earnings results on Friday, August 9th. The basic materials company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of $49.45 million during the quarter, compared to analysts’ expectations of $51.80 million. Sell-side analysts forecast that AlTi Global, Inc. will post -0.02 EPS for the current fiscal year.

AlTi Global Profile

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.