Altair Engineering Inc. (NASDAQ:ALTR) Given Consensus Recommendation of “Hold” by Analysts

Altair Engineering Inc. (NASDAQ:ALTR) has been given an average recommendation of “Hold” by the nine ratings firms that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $100.71.

A number of research analysts have commented on ALTR shares. 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. Needham & Company LLC restated a “hold” rating and set a $100.00 price objective on shares of Altair Engineering in a research note on Thursday, October 31st. William Blair restated a “market perform” rating on shares of Altair Engineering 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 report on Sunday, November 3rd. Finally, Royal Bank of Canada lifted their target price on Altair Engineering from $90.00 to $113.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 31st.

Insider Activity

In related news, Director Teresa A. Harris sold 620 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $104.10, for a total value of $64,542.00. Following the completion of the sale, the director now owns 21,242 shares in the company, valued at approximately $2,211,292.20. This represents a 2.84 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jeffrey Marraccini sold 1,824 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 value of $189,878.40. Following the completion of the sale, the insider now directly owns 4,680 shares of the company’s stock, valued at approximately $487,188. This trade represents a 28.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 61,947 shares of company stock valued at $6,557,428 over the last three months. Insiders own 21.75% of the company’s stock.

Institutional Trading of Altair Engineering

Hedge funds and other institutional investors have recently modified their holdings of the business. Massachusetts Financial Services Co. MA raised its holdings in shares of Altair Engineering by 31.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 392,343 shares of the software’s stock worth $37,473,000 after acquiring an additional 94,219 shares in the last quarter. Fisher Asset Management LLC raised its holdings in shares of Altair Engineering by 27.0% during the third quarter. Fisher Asset Management LLC now owns 401,612 shares of the software’s stock worth $38,358,000 after acquiring an additional 85,303 shares in the last quarter. Victory Capital Management Inc. raised its holdings in shares of Altair Engineering by 25.2% during the third quarter. Victory Capital Management Inc. now owns 388,089 shares of the software’s stock worth $37,066,000 after acquiring an additional 78,048 shares in the last quarter. State Street Corp raised its holdings in shares of Altair Engineering by 3.3% during the third quarter. State Street Corp now owns 2,053,957 shares of the software’s stock worth $196,173,000 after acquiring an additional 65,589 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Altair Engineering by 3.9% during the third quarter. Geode Capital Management LLC now owns 1,423,880 shares of the software’s stock worth $136,020,000 after acquiring an additional 53,088 shares in the last quarter. Institutional investors and hedge funds own 63.38% of the company’s stock.

Altair Engineering Trading Up 0.0 %

Shares of ALTR opened at $110.32 on Friday. The stock’s 50-day moving average is $108.08 and its two-hundred day moving average is $98.85. The stock has a market cap of $9.39 billion, a PE ratio of 290.32, a P/E/G ratio of 10.62 and a beta of 1.42. Altair Engineering has a 12 month low of $75.71 and a 12 month high of $113.12. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.27 and a quick ratio of 3.27.

Altair Engineering Company 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.