Altair Engineering Inc. (NASDAQ:ALTR) Short Interest Update

Altair Engineering Inc. (NASDAQ:ALTR - Get Free Report) was the recipient of a large growth in short interest during the month of January. As of January 15th, there was short interest totalling 3,800,000 shares, a growth of 13.4% from the December 31st total of 3,350,000 shares. Based on an average daily trading volume, of 1,020,000 shares, the short-interest ratio is presently 3.7 days.

Insider Transactions at Altair Engineering

In other Altair Engineering news, insider Ravi Kunju sold 360 shares of the firm's stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $103.65, for a total transaction of $37,314.00. Following the completion of the sale, the insider now directly owns 30,305 shares in the company, valued at approximately $3,141,113.25. This trade represents a 1.17 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Matthew Charles Brown sold 1,048 shares of the firm's stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $108.90, for a total transaction of $114,127.20. Following the completion of the transaction, the chief financial officer now directly owns 55,519 shares in the company, valued at approximately $6,046,019.10. The trade was a 1.85 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 59,503 shares of company stock valued at $6,303,008 in the last quarter. Insiders own 21.75% of the company's stock.

Institutional Investors Weigh In On Altair Engineering

Large investors have recently modified their holdings of the stock. GAMMA Investing LLC raised its stake in shares of 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 purchasing an additional 218 shares during the last quarter. Moody Aldrich Partners LLC raised its stake in shares of Altair Engineering by 15.2% during the third quarter. Moody Aldrich Partners LLC now owns 75,233 shares of the software's stock worth $7,186,000 after purchasing an additional 9,907 shares during the last quarter. Fisher Asset Management LLC raised its position in Altair Engineering by 27.0% in the third quarter. Fisher Asset Management LLC now owns 401,612 shares of the software's stock worth $38,358,000 after acquiring an additional 85,303 shares in the last quarter. Citigroup Inc. raised its position in Altair Engineering by 141.0% in the third quarter. Citigroup Inc. now owns 50,518 shares of the software's stock worth $4,825,000 after acquiring an additional 29,556 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Altair Engineering in the third quarter worth $1,356,000. Hedge funds and other institutional investors own 63.38% of the company's stock.

Altair Engineering Stock Performance

NASDAQ ALTR traded up $0.05 on Wednesday, reaching $110.50. The stock had a trading volume of 384,322 shares, compared to its average volume of 824,783. The company has a debt-to-equity ratio of 0.27, a quick ratio of 3.27 and a current ratio of 3.27. Altair Engineering has a 12-month low of $75.71 and a 12-month high of $113.12. The business's 50-day moving average price is $108.62 and its 200 day moving average price is $99.43. The stock has a market cap of $9.40 billion, a P/E ratio of 290.76, a price-to-earnings-growth ratio of 10.61 and a beta of 1.42.

Wall Street Analyst Weigh In

ALTR has been the topic of a number of research analyst reports. Loop Capital restated a "hold" rating and issued a $113.00 price target on shares of Altair Engineering in a report on Thursday, October 31st. Rosenblatt Securities increased 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. Needham & Company LLC reissued a "hold" rating and set a $100.00 price target on shares of Altair Engineering in a research report on Thursday, October 31st. Royal Bank of Canada lifted their price target on shares of Altair Engineering from $90.00 to $113.00 and gave the company a "sector perform" rating in a research note on Thursday, October 31st. Finally, Wolfe Research cut shares of Altair Engineering from a "strong-buy" rating to a "hold" rating in a research note on Sunday, November 3rd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, Altair Engineering presently has an average rating of "Hold" and an average price target of $100.71.

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.