Alti global executive sells shares worth over $25k

AlTi Global, Inc. (NASDAQ:ALTI) executive Spiros Maliagros, currently serving as the President of Strategic Alternatives, has sold a portion of his company stock, according to a recent filing with the Securities and Exchange Commission. The transaction involved the sale of 5,769 shares of Class A Common Stock at a weighted average price of $4.47 per share.

The shares were sold on September 17, 2024, and fetched a total of approximately $25,787. It is noted in the filing that the shares were sold in multiple transactions at prices ranging from $4.32 to $4.64. Following the sale, Maliagros still owns a significant amount of AlTi Global shares, with a reported 405,166.74 shares remaining in his possession.

AlTi Global, Inc., known for its investment advisory services, has seen its executives actively participate in the trading of its stock. These transactions are closely watched by investors as they can provide insights into the executives’ perspectives on the company’s current valuation and future prospects.

The company, which operates under the financial sector with a focus on investment advice, has undergone name changes in the past, previously known as Alvarium Tiedemann Holdings, Inc. and Cartesian Growth Corp before adopting its current identity.

Investors and stakeholders of AlTi Global, Inc. can request detailed information about the exact number of shares sold at each price point within the specified range from Spiros Maliagros, as stated in the footnotes of the filing.

The transaction was signed off by Colleen Graham, Attorney-in-fact, on September 19, 2024. As is customary, the filing provides transparency regarding the trading activities of company insiders, offering the market a glimpse into their investment decisions.

In other recent news, AlTi Global, Inc. has announced significant outcomes from its 2024 Annual Meeting of Stockholders. The company’s shareholders have confirmed the election of six director nominees: Ali Bouzarif, Norma Corio, Mark Furlong, Timothy Keaney, Michael Tiedemann, and Tracey Brophy Warson, who will serve until the 2025 Annual Meeting or until their successors are elected and qualified. Another key proposal that received approval was the issuance of Class A Common Stock and Series A Preferred Stock to Allianz (ETR:) Strategic Investments S.à.r.l, in line with Nasdaq Rule 5635(b). This proposal also encompasses shares of Class A Common Stock that may be issued upon the conversion of Series A Preferred Stock and the exercise of warrants to purchase additional Class A Common Stock. In addition, stockholders approved an amendment to the company’s Certificate of Incorporation to authorize a new class of common stock, designated as Class C Non-Voting Common Stock. Lastly, KPMG LLP was ratified as the independent registered public accounting firm for AlTi Global for the fiscal year ending December 31, 2024. All these developments mark recent progress in the company’s strategic initiatives.

InvestingPro Insights

As AlTi Global, Inc.’s (NASDAQ:ALTI) executive Spiros Maliagros liquidates a portion of his holdings, investors are keenly analyzing the company’s financial health and future profitability. According to InvestingPro data, AlTi Global currently holds a market capitalization of $620.83 million, reflecting the market’s valuation of the company. Despite a challenging past, with the stock having taken a significant hit over the last six months, resulting in a 32.13% price total return, analysts predict a brighter horizon with expectations of the company becoming profitable this year.

One of the key InvestingPro Tips for AlTi Global highlights the anticipation of net income growth in the upcoming year, which could signal a turnaround from the company’s previous performance, where it was not profitable over the last twelve months. This prospective profitability is particularly noteworthy given AlTi Global’s weak gross profit margins, currently standing at 23.34%. However, the company’s liquid assets have been reported to exceed short-term obligations, indicating a degree of financial stability in the face of operational challenges.

Investors should also note that AlTi Global does not pay a dividend, which can be a factor to consider for those seeking regular income from their investments. For those interested in a deeper dive into AlTi Global’s financials and future outlook, there are additional InvestingPro Tips available at offering further insights that can guide investment decisions.

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