AlTi Global, Inc. (NASDAQ:ALTI) reported in a recent filing that Chief Operating Officer Kevin P. Moran sold 20,000 shares of the company's Class A Common Stock on April 3, 2024, for a total of $98,600, at an average price of $4.93 per share. This transaction was disclosed in a Form 4 document filed with the Securities and Exchange Commission.
The sale resulted in Moran holding 175,775.20 shares of AlTi Global's Class A Common Stock following the transaction. The filing also detailed an earlier transaction where Moran acquired 150,000 shares of Class A Common Stock at no cost on March 11, 2024, which increased his direct ownership to 195,775.20 shares before the aforementioned sale.
In addition to the non-derivative transactions, the filing included information about derivative securities, specifically Class B Common Stock paired with Class B Units of AlTi Global Capital, LLC, which are exchangeable on a one-for-one basis for Class A Common Stock. Moran engaged in a transaction involving these derivative securities on March 11, 2024, where 150,000 shares were involved at a price of $0.0, with the derivative securities being exchangeable for Class A Common Stock.
AlTi Global, previously known as Alvarium Tiedemann Holdings, Inc. and Cartesian Growth Corp before that, is a company classified under the Investment Advice industry according to the standard industrial classification. The company's business address is on Madison Avenue in New York, and it is incorporated in Delaware.
Investors and market watchers often look to insider transactions as a gauge of management's confidence in the company's prospects. The recent filing provides transparency into the trading activities of one of AlTi Global's top executives.
InvestingPro Insights
AlTi Global, Inc. (NASDAQ:ALTI) has seen its stock undergo significant fluctuations recently, reflecting a period of high price volatility. The company's market capitalization currently stands at 612.16 million USD, suggesting a mid-sized player in its industry. Despite the challenges, analysts have forecasted that ALTI's net income is expected to grow this year, which might signal a potential turnaround for the firm.
InvestingPro Data metrics indicate a remarkable revenue growth of 226.36% in the last twelve months as of Q4 2023, with an even more impressive quarterly surge of 372.06% in Q4 2023. However, the company's profitability remains under pressure, as highlighted by a negative P/E ratio of -5.44 and a gross profit margin of 18.67%, which is considered weak in comparison to industry standards. Furthermore, the stock has experienced a significant price drop, with a one-year total return of -56.53%, underscoring the stock's high volatility and the substantial hit it took over the past week.
For investors seeking a more in-depth analysis, InvestingPro offers additional insights, including PRONEWS24 for an extra 10% off a yearly or biyearly Pro and Pro+ subscription. There are 11 more InvestingPro Tips available, which delve into aspects such as the company's liquidity, profitability over the last twelve months, and analysts' profitability predictions for this year. To explore these valuable tips, visit https://www.investing.com/pro/ALTI.
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