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

Altair Engineering Inc. (NASDAQ:ALTR - Get Free Report) saw a significant decline in short interest in October. As of October 15th, there was short interest totalling 4,550,000 shares, a decline of 7.3% from the September 30th total of 4,910,000 shares. Based on an average trading volume of 409,000 shares, the short-interest ratio is presently 11.1 days.

Insiders Place Their Bets

In related news, major shareholder Jrs Investments Llc sold 6,500 shares of the company's stock in a transaction on Monday, October 28th. The shares were sold at an average price of $102.59, for a total transaction of $666,835.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, major shareholder Jrs Investments Llc sold 6,500 shares of the company's stock in a transaction on Monday, October 28th. The shares were sold at an average price of $102.59, for a total transaction of $666,835.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Teresa A. Harris sold 620 shares of the company's stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $82.57, for a total transaction of $51,193.40. Following the sale, the director now directly owns 21,242 shares of the company's stock, valued at approximately $1,753,951.94. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 360,360 shares of company stock valued at $35,476,660 over the last ninety days. Corporate insiders own 21.75% of the company's stock.

Institutional Investors Weigh In On Altair Engineering

A number of hedge funds have recently made changes to their positions in the company. QRG Capital Management Inc. increased its position in shares of Altair Engineering by 9.2% during the 3rd quarter. QRG Capital Management Inc. now owns 25,874 shares of the software's stock worth $2,471,000 after purchasing an additional 2,190 shares in the last quarter. Van ECK Associates Corp increased its position in shares of Altair Engineering by 28.5% during the 3rd quarter. Van ECK Associates Corp now owns 1,358 shares of the software's stock worth $130,000 after purchasing an additional 301 shares in the last quarter. Harbor Capital Advisors Inc. increased its position in shares of Altair Engineering by 2.9% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 10,017 shares of the software's stock worth $957,000 after purchasing an additional 279 shares in the last quarter. Conestoga Capital Advisors LLC increased its position in shares of Altair Engineering by 1.4% during the 3rd quarter. Conestoga Capital Advisors LLC now owns 2,522,551 shares of the software's stock worth $240,929,000 after purchasing an additional 33,985 shares in the last quarter. Finally, US Bancorp DE increased its position in shares of Altair Engineering by 19.6% during the 3rd quarter. US Bancorp DE now owns 6,572 shares of the software's stock worth $628,000 after purchasing an additional 1,078 shares in the last quarter. Institutional investors and hedge funds own 63.38% of the company's stock.

Altair Engineering Price Performance

Shares of ALTR stock traded down $2.04 during mid-day trading on Wednesday, reaching $108.63. The company's stock had a trading volume of 1,213,572 shares, compared to its average volume of 480,486. Altair Engineering has a 1-year low of $57.59 and a 1-year high of $113.12. The company has a market cap of $9.02 billion, a P/E ratio of 1,207.00, a PEG ratio of 12.15 and a beta of 1.45. The company has a debt-to-equity ratio of 0.29, a quick ratio of 3.14 and a current ratio of 3.14. The firm's 50-day moving average is $93.72 and its two-hundred day moving average is $91.29.

Altair Engineering (NASDAQ:ALTR - Get Free Report) last announced its quarterly earnings data on Thursday, August 1st. The software reported $0.16 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.15 by $0.01. Altair Engineering had a net margin of 4.26% and a return on equity of 6.89%. The company had revenue of $148.80 million during the quarter, compared to analysts' expectations of $146.88 million. During the same quarter in the prior year, the company posted ($0.15) EPS. The business's revenue was up 5.4% on a year-over-year basis. On average, research analysts predict that Altair Engineering will post 0.65 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Needham & Company LLC reissued a "buy" rating and issued a $100.00 price target on shares of Altair Engineering in a report on Friday, August 2nd. JPMorgan Chase & Co. downgraded shares of Altair Engineering from an "overweight" rating to a "neutral" rating and set a $95.00 price target for the company. in a report on Monday, July 15th. Royal Bank of Canada reissued a "sector perform" rating and issued a $90.00 price target on shares of Altair Engineering in a report on Wednesday, October 23rd. Finally, The Goldman Sachs Group downgraded shares of Altair Engineering from a "neutral" rating to a "sell" rating and reduced their price target for the company from $85.00 to $71.00 in a report on Friday, August 2nd. One analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $90.67.

About Altair Engineering

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.