Altair Engineering Inc. (NASDAQ:ALTR) Given Average Rating of “Hold” by Brokerages

Altair Engineering Inc. (NASDAQ:ALTR) has received a consensus rating of “Hold” from the nine analysts that are currently covering the company, MarketBeat reports. 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. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $100.71.

A number of research firms have recently issued reports on ALTR. Rosenblatt Securities increased their target price on Altair Engineering from $88.00 to $113.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Needham & Company LLC reissued a “hold” rating and set a $100.00 price target on shares of Altair Engineering in a research report on Thursday, October 31st. William Blair restated a “market perform” rating on shares of Altair Engineering in a research report on Thursday, October 31st. Loop Capital reiterated a “hold” rating and issued a $113.00 target price on shares of Altair Engineering in a report on Thursday, October 31st. Finally, Royal Bank of Canada raised their price target on shares of Altair Engineering from $90.00 to $113.00 and gave the stock a “sector perform” rating in a report on Thursday, October 31st.

Insider Activity

In other news, CFO Matthew Charles Brown sold 1,048 shares of Altair Engineering stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $108.90, for a total value of $114,127.20. Following the transaction, the chief financial officer now directly owns 55,519 shares in the company, valued at approximately $6,046,019.10. The trade was a 1.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO James Ralph Scapa sold 13,000 shares of the stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $102.59, for a total value of $1,333,670.00. Following the sale, the chief executive officer now owns 134,045 shares of the company’s stock, valued at approximately $13,751,676.55. The trade was a 8.84 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 331,399 shares of company stock valued at $33,519,513. Insiders own 21.75% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. William Blair Investment Management LLC bought a new position in Altair Engineering during the second quarter worth $91,589,000. Principal Financial Group Inc. grew its position in Altair Engineering by 772.7% in the 2nd quarter. Principal Financial Group Inc. now owns 212,560 shares of the software’s stock worth $20,848,000 after purchasing an additional 188,203 shares during the last quarter. Great Lakes Advisors LLC bought a new position in shares of Altair Engineering during the 2nd quarter worth about $13,343,000. Candriam S.C.A. raised its position in shares of Altair Engineering by 28.9% during the second quarter. Candriam S.C.A. now owns 560,565 shares of the software’s stock valued at $54,978,000 after buying an additional 125,816 shares during the last quarter. Finally, Rhumbline Advisers lifted its stake in shares of Altair Engineering by 127.2% in the second quarter. Rhumbline Advisers now owns 178,788 shares of the software’s stock valued at $17,536,000 after buying an additional 100,106 shares during the period. 63.38% of the stock is currently owned by institutional investors and hedge funds.

Altair Engineering Stock Up 0.3 %

ALTR stock opened at $109.65 on Monday. 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 capitalization of $9.33 billion, a P/E ratio of 288.56, a P/E/G ratio of 12.16 and a beta of 1.42. Altair Engineering has a 52-week low of $75.71 and a 52-week high of $113.12. The company’s 50 day simple moving average is $106.12 and its 200-day simple moving average is $97.36.

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.