Revised Price Target
AlTi Global (NasdaqCM:ALTI) has seen its average one-year price target surge to 9.18 per share, marking a solid 12.50% increase from the prior estimate of 8.16 on July 5, 2023. This figure, an average consensus from various analysts, reflects a range of targets stretching from 9.09 to 9.45 per share. The new price target signifies a notable 55.33% surge from the recent closing price of 5.91 per share.
Fund Sentiment Overview
As of the latest data, AlTi Global has garnered interest from 116 funds or institutions, signifying a 6.42% upsurge in ownership in the previous quarter. The average portfolio weight allocated to ALTI by all funds is currently at 0.01%, showing a decline of 66.58%. Institutional shares held have notably risen by 16.95% in the last three months and now total 4,596K shares.
Updates on Shareholders
Among key holders, Geode Capital Management now holds 536K shares, equating to 0.83% ownership – a positive shift from their prior ownership of 475K shares, reflecting a notable increase of 11.33% in their portfolio allocation towards ALTI over the last quarter.
Moreover, IWM – iShares Russell 2000 ETF currently owns 475K shares, representing 0.73% ownership, up from their previous 439K shares. This marks a rise of 7.68% in their ownership and a 2.96% increase in their allocation to ALTI over the past quarter.
VEXMX – Vanguard Extended Market Index Fund Investor Shares has also increased its holding, with 324K shares now in their possession – a 6.87% rise from their prior ownership of 302K shares. The firm enhanced their portfolio allocation by 1.24% during the last quarter.
Conversely, Northern Trust, while holding 203K shares (0.31% ownership), reported a decrease of 55.91% in their allocation to ALTI compared to the previous quarter. The firm previously held 193K shares.
Charles Schwab Investment Management’s ownership of 199K shares (0.31% ownership) also saw growth, up from their prior 182K shares. Their portfolio allocation in ALTI increased by 10.93% over the recent quarter.
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This story originally appeared on Fintel.
The views and opinions expressed herein belong to the author and do not necessarily align with Nasdaq, Inc.
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