Zacks Investment Management purchased a new position in Altair Engineering Inc. (NASDAQ:ALTR - Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 26,339 shares of the software's stock, valued at approximately $2,516,000.
Several other institutional investors have also recently added to or reduced their stakes in ALTR. Blue Trust Inc. lifted its holdings in Altair Engineering by 572.1% in the third quarter. Blue Trust Inc. now owns 289 shares of the software's stock worth $28,000 after acquiring an additional 246 shares during the last quarter. GAMMA Investing LLC lifted its position in Altair Engineering by 81.7% in the 2nd quarter. GAMMA Investing LLC now owns 418 shares of the software's stock valued at $41,000 after purchasing an additional 188 shares during the last quarter. FSC Wealth Advisors LLC boosted its stake in Altair Engineering by 41.3% during the 2nd quarter. FSC Wealth Advisors LLC now owns 832 shares of the software's stock valued at $82,000 after purchasing an additional 243 shares during the period. Van ECK Associates Corp grew its position in Altair Engineering by 41.7% in the 2nd quarter. Van ECK Associates Corp now owns 1,057 shares of the software's stock worth $104,000 after purchasing an additional 311 shares during the last quarter. Finally, KBC Group NV increased its stake in shares of Altair Engineering by 17.9% in the third quarter. KBC Group NV now owns 1,640 shares of the software's stock valued at $157,000 after purchasing an additional 249 shares during the period. 63.38% of the stock is owned by institutional investors and hedge funds.
Altair Engineering Stock Up 0.6 %
Shares of Altair Engineering stock traded up $0.66 on Monday, hitting $106.83. 488,445 shares of the company traded hands, compared to its average volume of 589,069. The company has a market cap of $9.09 billion, a PE ratio of 281.14, a PEG ratio of 12.20 and a beta of 1.44. Altair Engineering Inc. has a 12-month low of $71.16 and a 12-month high of $113.12. The company has a quick ratio of 3.27, a current ratio of 3.27 and a debt-to-equity ratio of 0.27. The company has a 50-day moving average price of $101.85 and a 200 day moving average price of $95.24.
Insider Buying and Selling
In other news, CEO James Ralph Scapa sold 13,000 shares of the firm's stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $105.69, for a total value of $1,373,970.00. Following the sale, the chief executive officer now directly owns 134,045 shares of the company's stock, valued at approximately $14,167,216.05. This trade represents a 8.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Christ Revocable Trust sold 50,048 shares of the firm's stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $95.07, for a total value of $4,758,063.36. Following the completion of the sale, the insider now directly owns 149,952 shares in the company, valued at $14,255,936.64. This trade represents a 25.02 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 378,019 shares of company stock worth $37,686,698. Insiders own 21.75% of the company's stock.
Wall Street Analyst Weigh In
ALTR has been the topic of several analyst reports. Wolfe Research cut Altair Engineering from a "strong-buy" rating to a "hold" rating in a research report on Sunday, November 3rd. Loop Capital restated a "hold" rating and set a $113.00 price objective on shares of Altair Engineering in a research note on Thursday, October 31st. Royal Bank of Canada increased their price objective on shares of Altair Engineering from $90.00 to $113.00 and gave the company 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 report on Thursday, October 31st. Finally, Rosenblatt Securities increased their price target 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 research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $100.71.
Check Out Our Latest Report on ALTR
About Altair Engineering
(
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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