Altair Engineering Inc. (NASDAQ:ALTR) Given Consensus Recommendation of "Hold" by Brokerages

Shares of Altair Engineering Inc. (NASDAQ:ALTR - Get Free Report) have been given a consensus recommendation of "Hold" by the nine ratings firms that are covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $100.71.

Several research analysts have recently commented on ALTR shares. Wolfe Research downgraded Altair Engineering from a "strong-buy" rating to a "hold" rating in a report on Sunday, November 3rd. Royal Bank of Canada upped their price objective on Altair Engineering from $90.00 to $113.00 and gave the stock a "sector perform" rating in a report on Thursday, October 31st. Loop Capital reiterated a "hold" rating and set a $113.00 target price on shares of Altair Engineering in a research report on Thursday, October 31st. William Blair restated a "market perform" rating on shares of Altair Engineering in a research report on Thursday, October 31st. Finally, Rosenblatt Securities upped their price objective on shares of Altair Engineering from $88.00 to $113.00 and gave the company a "neutral" rating in a research report on Thursday, October 31st.

Altair Engineering Price Performance

Shares of ALTR traded down $0.07 on Thursday, hitting $105.74. The company's stock had a trading volume of 597,544 shares, compared to its average volume of 588,017. The company has a market capitalization of $9.00 billion, a PE ratio of 278.45, a PEG ratio of 12.10 and a beta of 1.44. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.27 and a quick ratio of 3.27. Altair Engineering has a fifty-two week low of $70.07 and a fifty-two week high of $113.12. The company has a 50 day moving average price of $101.19 and a 200 day moving average price of $94.89.

Insider Buying and Selling at Altair Engineering

In related news, Director Teresa A. Harris sold 620 shares of Altair Engineering stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $95.12, for a total value of $58,974.40. Following the transaction, the director now directly owns 21,242 shares of the company's stock, valued at $2,020,539.04. This trade represents a 2.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO James Ralph Scapa sold 16,095 shares of Altair Engineering stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $105.65, for a total transaction of $1,700,436.75. Following the completion of the transaction, the chief executive officer now directly owns 117,950 shares in the company, valued at $12,461,417.50. This trade represents a 12.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 378,019 shares of company stock valued at $37,686,698 in the last three months. 21.75% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Altair Engineering

Hedge funds have recently modified their holdings of the business. Teachers Retirement System of The State of Kentucky raised its stake in Altair Engineering by 30.4% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 34,242 shares of the software's stock worth $3,270,000 after buying an additional 7,981 shares during the last quarter. Geode Capital Management LLC increased its stake in Altair Engineering by 3.9% in the third quarter. Geode Capital Management LLC now owns 1,423,880 shares of the software's stock valued at $136,020,000 after purchasing an additional 53,088 shares in the last quarter. MML Investors Services LLC increased its stake in Altair Engineering by 12.4% in the third quarter. MML Investors Services LLC now owns 6,007 shares of the software's stock valued at $574,000 after purchasing an additional 665 shares in the last quarter. Orion Portfolio Solutions LLC increased its stake in Altair Engineering by 20.4% in the third quarter. Orion Portfolio Solutions LLC now owns 3,782 shares of the software's stock valued at $361,000 after purchasing an additional 642 shares in the last quarter. Finally, Zacks Investment Management bought a new stake in shares of Altair Engineering during the third quarter worth about $2,516,000. Institutional investors and hedge funds own 63.38% of the company's stock.

Altair Engineering Company Profile

Altair Engineering Inc, together with its subsidiaries, provides software and cloud solutions in the areas of simulation and design, high-performance computing, data analytics, and artificial intelligence in the United States and internationally. It operates in two segments, Software and Client Engineering Services.