Bamco Inc. NY Trims Position in Altair Engineering Inc. (NASDAQ:ALTR)

Bamco Inc. NY decreased its position in Altair Engineering Inc. (NASDAQ:ALTR - Free Report) by 9.1% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 1,259,344 shares of the software's stock after selling 126,163 shares during the period. Bamco Inc. NY owned about 1.48% of Altair Engineering worth $120,280,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Blue Trust Inc. boosted its position in Altair Engineering by 572.1% during the 3rd quarter. Blue Trust Inc. now owns 289 shares of the software's stock valued at $28,000 after buying an additional 246 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Altair Engineering by 81.7% during the second quarter. GAMMA Investing LLC now owns 418 shares of the software's stock worth $41,000 after purchasing an additional 188 shares during the period. FSC Wealth Advisors LLC grew its stake in shares of Altair Engineering by 41.3% in the second quarter. FSC Wealth Advisors LLC now owns 832 shares of the software's stock worth $82,000 after purchasing an additional 243 shares during the last quarter. Van ECK Associates Corp increased its holdings in Altair Engineering by 41.7% during the 2nd quarter. Van ECK Associates Corp now owns 1,057 shares of the software's stock valued at $104,000 after purchasing an additional 311 shares during the period. Finally, KBC Group NV lifted its holdings in Altair Engineering by 17.9% in the 3rd quarter. KBC Group NV now owns 1,640 shares of the software's stock worth $157,000 after buying an additional 249 shares during the period. Institutional investors own 63.38% of the company's stock.

Insider Buying and Selling

In other news, Director Teresa A. Harris sold 620 shares of the business's stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $89.70, for a total value of $55,614.00. Following the completion of the transaction, the director now owns 21,242 shares in the company, valued at $1,905,407.40. The trade was a 2.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Jrs Investments Llc sold 6,500 shares of Altair Engineering stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $105.69, for a total value of $686,985.00. The disclosure for this sale can be found here. Insiders have sold a total of 362,544 shares of company stock worth $36,041,876 in the last quarter. Corporate insiders own 21.75% of the company's stock.

Altair Engineering Stock Up 0.2 %

NASDAQ:ALTR traded up $0.23 during trading hours on Monday, reaching $105.84. 391,510 shares of the company traded hands, compared to its average volume of 586,695. Altair Engineering Inc. has a 1 year low of $70.07 and a 1 year high of $113.12. The stock has a market capitalization of $9.00 billion, a P/E ratio of 276.82, a P/E/G ratio of 12.14 and a beta of 1.44. The business's 50-day moving average price is $100.49 and its two-hundred day moving average price is $94.60. The company has a current ratio of 3.27, a quick ratio of 3.27 and a debt-to-equity ratio of 0.27.

Analyst Upgrades and Downgrades

ALTR has been the topic of several research analyst reports. Loop Capital reissued a "hold" rating and set a $113.00 target price on shares of Altair Engineering in a research note on Thursday, October 31st. Royal Bank of Canada upped their price objective on shares of Altair Engineering from $90.00 to $113.00 and gave the stock a "sector perform" rating in a report on Thursday, October 31st. William Blair reaffirmed a "market perform" rating on shares of Altair Engineering in a research note on Thursday, October 31st. Wolfe Research downgraded shares of Altair Engineering from a "strong-buy" rating to a "hold" rating in a research note on Sunday, November 3rd. Finally, Rosenblatt Securities lifted their price objective on Altair Engineering from $88.00 to $113.00 and gave the company a "neutral" rating in a research report on Thursday, October 31st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat, Altair Engineering presently has a consensus rating of "Hold" and a consensus target price of $100.71.

Altair Engineering 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.