Stock Markets
Alti global CEO buys $230k in company stock
Michael Tiedemann, the Chief Executive Officer of AlTi Global, Inc. (NASDAQ:ALTI), has made a significant investment in the company’s stock, according to a recent SEC filing. Tiedemann purchased a total of 47,373 shares of AlTi Global’s Class A Common Stock, with transactions totaling approximately $230,459. The shares were acquired at prices ranging from $4.86 to $4.87 per share.
This move by the CEO demonstrates a strong vote of confidence in the future of AlTi Global, a firm specializing in investment advice. Tiedemann, who also serves as a director, increased his direct holdings in the company to 499,886.53 shares following the purchases made on June 3, 2024.
Investors often watch the buying and selling activity of company executives as it can indicate the leadership’s belief in the company’s prospects. A purchase of stock can suggest that the executive is bullish on the company’s future performance.
The SEC filing also disclosed footnotes indicating the price reported is a weighted average price, with the shares bought in multiple transactions at prices ranging from $4.69 to $5.00. Tiedemann has committed to providing full information regarding the number of shares bought at each separate price within this range upon request.
In addition to the direct acquisitions, the SEC document revealed Tiedemann’s indirect beneficial ownership in AlTi Global, which includes shares held in trusts and LLCs. However, he disclaims beneficial ownership of these securities except to the extent of any pecuniary interest he may have therein.
In the realm of derivative securities, the filing showed that Tiedemann was awarded Restricted Stock Units (RSUs) and Performance Restricted Stock Units (PRSUs), which represent contingent rights to receive shares of the company’s Class A Common Stock. These awards are subject to vesting conditions based on service with the company and performance thresholds.
Investors in AlTi Global will likely continue to monitor insider transactions, such as those of Tiedemann, as they evaluate their positions in the company.
In other recent news, AlTi has reported significant financial strides in its first-quarter earnings call. The company disclosed a revenue of $51 million, largely driven by recurring fees. The firm’s net income stood at $22 million, with an adjusted EBITDA of $7 million. AlTi’s assets under management (AUM) also saw a 10% increase over the past year, reaching $71 billion.
In addition to these financial highlights, AlTi announced key acquisitions of East End Advisors and Envoi, aiming to bolster their wealth management platform and expand their operations. These acquisitions, subject to regulatory approval, are expected to contribute to the company’s future results.
Despite a decrease in revenues for the Strategic Alternatives segment, AlTi remains focused on organic growth, talent acquisition, and strategic acquisitions to drive accelerated growth in 2024. The company’s management expressed confidence in these recent developments and their potential to generate long-term shareholder value.
InvestingPro Insights
Following the recent insider stock purchases by Michael Tiedemann, CEO of AlTi Global, Inc. (NASDAQ:ALTI), investors are gaining a deeper interest in the company’s financial health and future prospects. AlTi Global’s market capitalization stands at $554.44 million, reflecting the market’s current valuation of the company. Despite the challenges over the past year, with a significant drop in the stock price, there is a sense of optimism as net income is expected to grow this year, an insight supported by analysts and echoed in one of the InvestingPro Tips.
Another InvestingPro Tip suggests that AlTi Global’s stock tends to experience high price volatility, which could be an important consideration for investors looking for potential trading opportunities or those who are more risk-averse. The company’s price/book ratio, as of the last twelve months leading up to Q1 2024, is 1.41, which could indicate that the stock is reasonably valued in terms of its assets.
Revenue growth is another area where AlTi Global has shown impressive figures, with a 111.96% increase in the last twelve months as of Q1 2024. This metric highlights the company’s ability to expand its top-line income significantly, which may be a positive sign for potential investors. However, it’s worth noting that the company has not been profitable over the last twelve months, and it does not pay dividends to shareholders, which could be a factor for those who prioritize income-generating investments.
For investors seeking a more in-depth analysis, there are additional InvestingPro Tips available on InvestingPro, which can provide further guidance on AlTi Global’s performance and outlook. By using the coupon code PRONEWS24, investors can get an additional 10% off a yearly or biyearly Pro and Pro+ subscription to access these valuable insights.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
(Reuters) -Private equity firm Insight Partners is on the brink of closing a new $10 billion-plus fund, roughly half the amount originally targeted, the Financial Times reported on Sunday, citing five people with knowledge of its plans.
Insight will not formally close its 13th fund until early next year, the report said, adding that the final figure may be closer to $12 billion.
Insight Partners declined to comment on the report.
The report said Insight is using a private equity-style structure to sell more than $1 billion worth of stakes in start-ups and to free up cash to return to investors.
One of the start-ups is Israeli cybersecurity firm Wiz, which had called off a $23 billion deal with Google parent Alphabet (NASDAQ:) in July, the report said.
New York-based Insight raised $20 billion for its 12th flagship fund in 2022, aiming to ramp up investments in software and technology companies.
JERUSALEM (Reuters) -Prime Minister Benjamin Netanyahu said Israel would inflict a “heavy price” on the Iran-aligned Houthis who control northern Yemen, after they reached central Israel with a missile on Sunday for the first time.
Houthi military spokesman Yahya Sarea said the group struck with a new hypersonic ballistic missile that travelled 2,040 km (1270 miles) in just 11 1/2 minutes.
After initially saying the missile had fallen in an open area, Israel’s military later said it had probably fragmented in the air, and that pieces of interceptors had landed in fields and near a railway station. Nobody was reported hurt.
Air raid sirens had sounded in Tel Aviv and across central Israel moments before the impact at around 6:35 a.m. local time (0335 GMT), sending residents running for shelter. Loud booms were heard.
Reuters saw smoke billowing in an open field in central Israel.
At a weekly cabinet meeting, Netanyahu said the Houthis should have known that Israel would exact a “heavy price” for attacks on Israel.
“Whoever needs a reminder of that is invited to visit the Hodeida port,” Netanyahu said, referring to an Israeli retaliatory air strike against Yemen in July for a Houthi drone that hit Tel Aviv.
The Houthis have fired missiles and drones at Israel repeatedly in what they say is solidarity with the Palestinians, since the Gaza war began with a Hamas attack on Israel in October.
The drone that hit Tel Aviv for the first time in July killed a man and wounded four people. Israeli air strikes in response on Houthi military targets near the port of Hodeidah killed six and wounded 80.
Previously, Houthi missiles have not penetrated deep into Israeli air space, with the only one reported to have hit Israeli territory falling in an open area near the Red Sea port of Eilat in March.
Israel should expect more strikes in the future “as we approach the first anniversary of the Oct. 7 operation, including responding to its aggression on the city of Hodeidah,” Sarea said.
The deputy head of the Houthi’s media office, Nasruddin Amer, said in a post on X on Sunday that the missile had reached Israel after “20 missiles failed to intercept” it, describing it as the “beginning”.
The Israeli military also said that 40 projectiles were fired towards Israel from Lebanon on Sunday and were either intercepted or landed in open areas.
“No injuries were reported,” the military said.
PARIS (Reuters) – Eight people have died trying to cross the Channel from France to England, French authorities said on Sunday, confirming earlier media reports.
This latest incident follows the deaths of 12 people earlier this month when their boat capsized in the Channel on its way to Britain and highlights the pressure on the British and French governments to find ways to tackle the boat crossings.
Jacques Billant, the Prefect of the Pas-de-Calais region, said that rescue crews were alerted that a boat with 59 people onboard was in difficulty in waters off the coast of Ambleteuse in the Pas-de-Calais area.
“A new drama took place around one in the morning and we deplore the death of eight people,” he told a news conference, adding that the other 51 onboard were now in the care of rescue and medical crews.
The dead were men from Eritrea, Sudan, Syria, Egypt, Iran and Afghanistan, he added.
The Channel is one of the world’s busiest shipping lanes and currents are strong, which makes crossing on small boats dangerous.
The latest incident brings to 46 the number of people who have died trying to cross the Channel from France since the start of the year, Billant said.
On September 14 alone there were eight attempts to cross the Channel from France and some 200 migrants were rescued, he said.
Forex2 years agoForex Today: the dollar is gaining strength amid gloomy sentiment at the start of the Fed’s week
- Forex2 years ago
How is the Australian dollar doing today?
- Forex2 years ago
Dollar to pound sterling exchange rate today: Pound plummeted to its lowest since 1985
- Forex2 years ago
Unbiased review of Pocket Option broker
- Cryptocurrency2 years ago
What happened in the crypto market – current events today
- World2 years ago
Why are modern video games an art form?
- Commodities2 years ago
Copper continues to fall in price on expectations of lower demand in China
- Stock Markets2 years ago
Morgan Stanley: bear market rally to continue
