AlTi Global, Inc. (NASDAQ:ALTI) CEO Michael Tiedemann has recently increased his stake in the company through a series of stock purchases, as per the latest SEC filings. Tiedemann, who also serves as a director, acquired a total of 80,000 shares of AlTi Global's Class A Common Stock, amounting to a transaction value of $461,200.
The transactions occurred over two dates, with the first purchase of 60,000 shares at $4.66 per share on May 16, 2024, followed by two separate purchases on May 20, 2024, totaling 40,000 shares. The shares bought on the latter date were acquired at weighted average prices of $4.55 and $4.53, with the prices ranging from $4.39 to $4.59 and $4.40 to $4.58, respectively.
Following these acquisitions, Tiedemann's direct ownership of AlTi Global shares has increased to 409,145.53. Additionally, the SEC filing includes footnotes indicating that Tiedemann holds indirect beneficial ownership of 63,326 shares for MGT 2012 DE Trust, 16,979 shares for CHT Fam Tst Ar 3rd fbo MGT, and 42,918 shares for Chauncey Close, LLC. However, he disclaims beneficial ownership of these securities, except to the extent of any pecuniary interest he may have.
The recent purchases by the CEO demonstrate a bolstering of his investment in AlTi Global, a company specializing in investment advice, amid the ongoing financial activities within the firm. As a leader and major stakeholder, Tiedemann's stock transactions are often closely watched by investors seeking insights into executive confidence in the company's future performance.
InvestingPro Insights
In light of the CEO's recent investment in AlTi Global, Inc. (NASDAQ:ALTI), a deeper understanding of the company's financial health and market performance can be gleaned from InvestingPro data and metrics. The market capitalization of AlTi Global currently stands at $543.63 million, which provides a sense of the company's size in the competitive investment advice sector. Despite a challenging period, as indicated by a negative price-to-earnings (P/E) ratio of -4.23, analysts have a positive outlook. They predict not only a growth in net income for the year but also expect the company to become profitable within the same timeframe, as per InvestingPro Tips.
Investors should note that AlTi Global has experienced significant price volatility, with a substantial price decline of 22.16% over the last three months and an even steeper 41.4% drop over the past six months. This level of volatility is something to consider for those with a lower risk tolerance. However, on the brighter side, the company's liquid assets are reported to exceed its short-term obligations, suggesting a level of financial resilience.
For those interested in further insights, InvestingPro offers additional tips on AlTi Global, including details on revenue growth, which has been impressive at 111.96% for the last twelve months as of Q1 2024. To explore these insights and more, readers can visit InvestingPro for a comprehensive analysis. Moreover, by using the coupon code PRONEWS24, readers can enjoy an additional 10% off a yearly or biyearly Pro and Pro+ subscription. There are 7 additional InvestingPro Tips available that could provide investors with a more nuanced view of AlTi Global's potential and investment profile.
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