AlTi Global, Inc. (NASDAQ:ALTI) has reported a recent transaction by Spiros Maliagros, the company's President of Asset Management, who sold a total of $62,850 worth of Class A Common Stock. The transaction took place on May 16, 2024, and involved 13,604 shares at a weighted average price of $4.62.
The shares were sold in multiple transactions with prices ranging from $4.42 to $4.72. Following the sale, Maliagros still owns a substantial number of shares in the company, with a total of 499,380.74 shares remaining in his possession.
The reported transaction was disclosed in a regulatory filing with the Securities and Exchange Commission. AlTi Global, Inc. has not made any specific comments regarding the transaction.
Investors and the market often look to insider buying and selling as indicators of confidence in the company's prospects. While the reasons for such transactions can vary widely, they are always of interest to the investment community.
AlTi Global, Inc., with its headquarters in New York and incorporated in Delaware, is a company specializing in investment advice. It has undergone name changes in the past, previously known as Alvarium Tiedemann Holdings, Inc. and before that as Cartesian Growth Corp.
This latest transaction is part of the ongoing financial disclosures that public companies are required to make, providing transparency to investors and maintaining the integrity of the financial markets.
InvestingPro Insights
AlTi Global, Inc. (NASDAQ:ALTI) has seen significant movements in its stock performance and financial metrics, as revealed by the latest data from InvestingPro. Despite recent insider selling, the company's financial health and market valuation present a mixed picture that investors may wish to consider.
InvestingPro Data indicates a market capitalization of $543.63 million, which is reflective of the company's overall market value. The P/E ratio stands at -4.23, suggesting that investors are currently facing losses, with expectations of future earnings to justify the current share price. It's also worth noting that the revenue growth over the last twelve months as of Q1 2024 has been impressive at 111.96%, signaling a strong increase in the company's sales.
However, AlTi Global's stock has experienced high volatility, as indicated by a significant price drop of 22.82% over the last three months. This could be a point of concern for investors looking for stability. An InvestingPro Tip also points out that the stock has taken a big hit over the last six months, with a total price return of -42.76%.
On a positive note, another InvestingPro Tip suggests that net income is expected to grow this year, which may signal a turnaround for the company that has not been profitable over the last twelve months. Additionally, the company's liquid assets exceed its short-term obligations, providing some financial flexibility in the near term.
For investors seeking more in-depth analysis, there are additional InvestingPro Tips available at https://www.investing.com/pro/ALTI. Using coupon code PRONEWS24, readers can get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, which includes a comprehensive list of 8 InvestingPro Tips for AlTi Global, Inc.
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