Mirabella Financial Services LLP Raises Holdings in Altair Engineering Inc. (NASDAQ:ALTR)

Mirabella Financial Services LLP lifted its holdings in shares of Altair Engineering Inc. (NASDAQ:ALTR - Free Report) by 560.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 37,262 shares of the software's stock after acquiring an additional 31,622 shares during the quarter. Mirabella Financial Services LLP's holdings in Altair Engineering were worth $3,420,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in ALTR. GAMMA Investing LLC increased 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 period. Moody Aldrich Partners LLC increased its position in Altair Engineering by 15.2% during the 3rd quarter. Moody Aldrich Partners LLC now owns 75,233 shares of the software's stock worth $7,186,000 after buying an additional 9,907 shares during the period. Linden Thomas Advisory Services LLC acquired a new stake in shares of Altair Engineering during the second quarter worth $629,000. Jane Street Group LLC boosted its position in shares of Altair Engineering by 960.2% in the first quarter. Jane Street Group LLC now owns 303,672 shares of the software's stock valued at $26,161,000 after acquiring an additional 275,030 shares during the period. Finally, Envestnet Asset Management Inc. grew its stake in shares of Altair Engineering by 8.9% in the second quarter. Envestnet Asset Management Inc. now owns 85,065 shares of the software's stock valued at $8,343,000 after acquiring an additional 6,956 shares in the last quarter. 63.38% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on ALTR. Loop Capital reissued a "hold" rating and issued a $113.00 price objective on shares of Altair Engineering in a report on Thursday, October 31st. Royal Bank of Canada boosted their price target on Altair Engineering from $90.00 to $113.00 and gave the company a "sector perform" rating in a research note on Thursday, October 31st. Wolfe Research lowered Altair Engineering from a "strong-buy" rating to a "hold" rating in a research note on Sunday, November 3rd. Rosenblatt Securities increased their target price on Altair Engineering from $88.00 to $113.00 and gave the stock a "neutral" rating in a report on Thursday, October 31st. Finally, The Goldman Sachs Group cut shares of Altair Engineering from a "neutral" rating to a "sell" rating and dropped their target price for the company from $85.00 to $71.00 in a research report on Friday, August 2nd. One analyst has rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Altair Engineering currently has a consensus rating of "Hold" and an average price target of $100.71.

Altair Engineering Stock Performance

Shares of Altair Engineering stock traded up $0.67 during trading hours on Monday, reaching $105.87. The company had a trading volume of 983,110 shares, compared to its average volume of 590,161. Altair Engineering Inc. has a one year low of $70.07 and a one year high of $113.12. The business has a fifty day simple moving average of $99.20 and a 200 day simple moving average of $93.94. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.27 and a quick ratio of 3.27. The firm has a market cap of $9.01 billion, a PE ratio of 276.85, a price-to-earnings-growth ratio of 12.09 and a beta of 1.44.

Insider Buying and Selling at Altair Engineering

In other Altair Engineering news, CEO James Ralph Scapa sold 13,000 shares of Altair Engineering stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $89.04, for a total transaction of $1,157,520.00. Following the completion of the transaction, the chief executive officer now owns 134,045 shares in the company, valued at approximately $11,935,366.80. The trade was a 8.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Ravi Kunju sold 360 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $103.65, for a total value 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 represents a 1.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 362,544 shares of company stock worth $35,717,201. 21.75% of the stock is currently owned by insiders.

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.