Altair Engineering Inc. (NASDAQ:ALTR) Shares Purchased by King Luther Capital Management Corp

King Luther Capital Management Corp lifted its holdings in Altair Engineering Inc. (NASDAQ:ALTR - Free Report) by 5.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 174,733 shares of the software's stock after acquiring an additional 9,310 shares during the quarter. King Luther Capital Management Corp owned 0.21% of Altair Engineering worth $16,689,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. GAMMA Investing LLC raised its position in Altair Engineering by 52.2% during the third quarter. GAMMA Investing LLC now owns 636 shares of the software's stock valued at $61,000 after acquiring an additional 218 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in shares of Altair Engineering by 5,564.8% during the 1st quarter. Russell Investments Group Ltd. now owns 31,043 shares of the software's stock valued at $2,676,000 after purchasing an additional 30,495 shares in the last quarter. Moody Aldrich Partners LLC lifted its stake in shares of Altair Engineering by 15.2% in the 3rd quarter. Moody Aldrich Partners LLC now owns 75,233 shares of the software's stock valued at $7,186,000 after purchasing an additional 9,907 shares during the period. Linden Thomas Advisory Services LLC purchased a new stake in Altair Engineering during the second quarter worth $629,000. Finally, Jane Street Group LLC grew its position in Altair Engineering by 960.2% during the first quarter. Jane Street Group LLC now owns 303,672 shares of the software's stock valued at $26,161,000 after buying an additional 275,030 shares during the period. Hedge funds and other institutional investors own 63.38% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on ALTR shares. Needham & Company LLC reiterated a "hold" rating and set a $100.00 target price on shares of Altair Engineering in a research report on Thursday, October 31st. Loop Capital reaffirmed a "hold" rating and set a $113.00 price objective on shares of Altair Engineering in a report on Thursday, October 31st. Wolfe Research cut shares of Altair Engineering from a "strong-buy" rating to a "hold" rating in a research note on Sunday, November 3rd. William Blair reiterated a "market perform" rating on shares of Altair Engineering in a report on Thursday, October 31st. Finally, The Goldman Sachs Group lowered Altair Engineering from a "neutral" rating to a "sell" rating and cut their price objective for the stock from $85.00 to $71.00 in a research note on Friday, August 2nd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $100.71.

Insider Activity

In other Altair Engineering news, insider Ravi Kunju sold 360 shares of the business's stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $103.65, for a total value of $37,314.00. Following the transaction, the insider now directly owns 30,305 shares in the company, valued at $3,141,113.25. The trade was a 1.17 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Teresa A. Harris sold 620 shares of the firm's stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $89.70, for a total transaction of $55,614.00. Following the sale, the director now owns 21,242 shares of the company's stock, valued at $1,905,407.40. This represents a 2.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 362,544 shares of company stock worth $35,717,201 over the last ninety days. Corporate insiders own 21.75% of the company's stock.

Altair Engineering Price Performance

ALTR stock traded up $0.85 during mid-day trading on Friday, reaching $105.20. The company's stock had a trading volume of 879,342 shares, compared to its average volume of 588,721. The company has a current ratio of 3.27, a quick ratio of 3.27 and a debt-to-equity ratio of 0.27. The company's 50 day moving average is $99.20 and its two-hundred day moving average is $93.83. Altair Engineering Inc. has a fifty-two week low of $68.87 and a fifty-two week high of $113.12. The stock has a market cap of $8.95 billion, a PE ratio of 276.84, a P/E/G ratio of 11.98 and a beta of 1.44.

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.