Quest Partners LLC bought a new position in Altair Engineering Inc. (NASDAQ:ALTR - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 6,459 shares of the software's stock, valued at approximately $617,000.
Several other hedge funds and other institutional investors have also modified their holdings of ALTR. SG Americas Securities LLC acquired a new stake in shares of Altair Engineering during the 1st quarter worth about $177,000. Russell Investments Group Ltd. raised its stake in shares of Altair Engineering by 5,564.8% in the first quarter. Russell Investments Group Ltd. now owns 31,043 shares of the software's stock valued at $2,676,000 after acquiring an additional 30,495 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Altair Engineering by 3.2% in the 1st quarter. Vanguard Group Inc. now owns 5,944,285 shares of the software's stock worth $512,100,000 after acquiring an additional 182,840 shares in the last quarter. Epoch Investment Partners Inc. bought a new stake in Altair Engineering during the 1st quarter worth approximately $2,726,000. Finally, Jane Street Group LLC increased its holdings in Altair Engineering by 960.2% during the 1st quarter. Jane Street Group LLC now owns 303,672 shares of the software's stock valued at $26,161,000 after purchasing an additional 275,030 shares in the last quarter. Institutional investors own 63.38% of the company's stock.
Insider Activity at Altair Engineering
In related news, Director Teresa A. Harris sold 620 shares of the firm's stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $104.10, for a total transaction of $64,542.00. Following the sale, the director now owns 21,242 shares of the company's stock, valued at approximately $2,211,292.20. This trade represents a 2.84 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Christ Revocable Trust sold 100,000 shares of Altair Engineering stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $106.57, for a total value of $10,657,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 362,544 shares of company stock worth $35,717,201. 21.75% of the stock is owned by insiders.
Altair Engineering Trading Up 0.8 %
Shares of ALTR traded up $0.85 on Friday, reaching $105.20. 879,442 shares of the company's stock were exchanged, compared to its average volume of 1,779,955. The business has a 50 day moving average price of $99.20 and a two-hundred day moving average price of $93.88. Altair Engineering Inc. has a 12 month low of $68.87 and a 12 month high of $113.12. The stock has a market capitalization of $8.95 billion, a P/E ratio of 276.85, a price-to-earnings-growth ratio of 11.99 and a beta of 1.44. 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 Ratings Changes
A number of research firms have commented on ALTR. Wolfe Research lowered Altair Engineering from a "strong-buy" rating to a "hold" rating in a research note on Sunday, November 3rd. Loop Capital reiterated a "hold" rating and set a $113.00 price target on shares of Altair Engineering in a research report on Thursday, October 31st. Rosenblatt Securities raised 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. Royal Bank of Canada boosted their target price on shares of Altair Engineering from $90.00 to $113.00 and gave the stock a "sector perform" rating in a research note on Thursday, October 31st. Finally, Needham & Company LLC reissued a "hold" rating and set a $100.00 price target on shares of Altair Engineering in a research note on Thursday, October 31st. One investment 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. According to MarketBeat, Altair Engineering has an average rating of "Hold" and a consensus target price of $100.71.
View Our Latest Report on ALTR
Altair Engineering Profile
(
Free Report)
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.
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