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

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

A number of research analysts recently issued reports on ALTR shares. Needham & Company LLC restated a "hold" rating and set a $100.00 target price on shares of Altair Engineering in a research report on Thursday, October 31st. 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 raised their price objective on shares of Altair Engineering from $90.00 to $113.00 and gave the stock a "sector perform" rating in a research note on Thursday, October 31st. William Blair reaffirmed a "market perform" rating on shares of Altair Engineering in a report on Thursday, October 31st. Finally, Loop Capital reissued a "hold" rating and set a $113.00 price target on shares of Altair Engineering in a report on Thursday, October 31st.

Altair Engineering Stock Performance

NASDAQ:ALTR traded down $0.09 during midday trading on Friday, hitting $110.38. The company's stock had a trading volume of 779,773 shares, compared to its average volume of 905,646. The firm's 50 day moving average is $107.83 and its 200-day moving average is $98.68. The firm has a market cap of $9.39 billion, a P/E ratio of 290.48, a P/E/G ratio of 10.62 and a beta of 1.42. 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 $75.71 and a fifty-two week high of $113.12.

Insider Activity

In related news, CEO James Ralph Scapa sold 13,000 shares of the stock in a transaction on Monday, October 28th. The stock was sold at an average price of $102.59, for a total value of $1,333,670.00. Following the completion of the transaction, the chief executive officer now directly owns 134,045 shares of the company's stock, valued at approximately $13,751,676.55. This represents a 8.84 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jeffrey Marraccini sold 1,824 shares of Altair Engineering stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $104.10, for a total transaction of $189,878.40. Following the sale, the insider now directly owns 4,680 shares in the company, valued at approximately $487,188. This trade represents a 28.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 81,447 shares of company stock worth $8,557,933 over the last 90 days. 21.75% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ALTR. Blue Trust Inc. increased its position in Altair Engineering by 572.1% during the third quarter. Blue Trust Inc. now owns 289 shares of the software's stock worth $28,000 after purchasing an additional 246 shares during the last quarter. UMB Bank n.a. grew its position in Altair Engineering by 77.0% in the fourth quarter. UMB Bank n.a. now owns 285 shares of the software's stock worth $31,000 after acquiring an additional 124 shares during the period. GAMMA Investing LLC increased its stake in Altair Engineering by 52.2% during the third quarter. GAMMA Investing LLC now owns 636 shares of the software's stock worth $61,000 after acquiring an additional 218 shares during the last quarter. Van ECK Associates Corp raised its position in Altair Engineering by 28.5% in the third quarter. Van ECK Associates Corp now owns 1,358 shares of the software's stock valued at $130,000 after purchasing an additional 301 shares during the period. Finally, KBC Group NV lifted its stake in shares of Altair Engineering by 17.9% in the 3rd quarter. KBC Group NV now owns 1,640 shares of the software's stock valued at $157,000 after purchasing an additional 249 shares during the last quarter. 63.38% of the stock is currently owned by institutional investors and hedge funds.

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.