In a recent transaction on May 16, Kevin P. Moran, the President and Chief Operating Officer of AlTi Global, Inc. (NASDAQ:ALTI), sold 10,047 shares of the company's Class A Common Stock at a price of $4.7 per share, amounting to a total of $47,220. The transaction was disclosed in a filing with the Securities and Exchange Commission.
The sale by Moran, who serves as an executive officer of AlTi Global, is a notable event, as transactions by insiders can often provide insights into their perspective on a company's current valuation and future prospects. Following the sale, Moran continues to hold 165,137.2 shares of AlTi Global's stock, maintaining a significant stake in the company.
AlTi Global, based in New York, operates within the investment advice sector and has undergone name changes in the past, previously known as Alvarium Tiedemann Holdings, Inc. and Cartesian Growth Corp. The company, incorporated in Delaware, specializes in financial services and is publicly traded under the ticker symbol ALTI.
The specifics of the transaction were made public through the SEC's Form 4 filing, which is used to report changes in company ownership by officers, directors, and shareholders owning 10% or more of the company's stock. Colleen Graham, acting as attorney in fact, signed the document on behalf of Moran, with the signature date recorded as May 20, 2024.
Investors often monitor insider transactions as part of their research process, considering such activities when making investment decisions. The recent sale by AlTi Global's COO could attract the attention of current and potential shareholders, who may interpret the move in various ways depending on their own analysis and investment strategy.
InvestingPro Insights
As investors digest the news of AlTi Global Inc. (NASDAQ:ALTI) COO Kevin P. Moran's recent stock sale, examining the company's financial health and market performance offers additional context. According to InvestingPro, AlTi Global's market capitalization currently stands at $543.63 million, reflecting its valuation in the marketplace.
Despite the insider sale, AlTi Global's stock has been characterized by high price volatility, which is an important consideration for investors. This aligns with one of the InvestingPro Tips indicating that the stock generally trades with high price volatility. Additionally, the company has liquid assets that exceed its short-term obligations, which could provide some level of reassurance to investors concerned about the company's immediate financial stability.
On the profitability front, AlTi Global has not been profitable over the last twelve months, as highlighted by another InvestingPro Tip. However, analysts predict the company will turn profitable this year, which could signal a potential shift in its financial trajectory. It is also worth noting that the company does not pay a dividend, which may influence the investment decisions of income-focused shareholders.
For those interested in more detailed analysis and additional insights, there are currently 6 more InvestingPro Tips available. To access these tips and enhance your investment research, consider using the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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