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

Altair Engineering Inc. (NASDAQ:ALTR) was the recipient of a large increase in short interest in December. As of December 31st, there was short interest totalling 3,800,000 shares, an increase of 13.4% from the December 15th total of 3,350,000 shares. Based on an average daily volume of 1,020,000 shares, the short-interest ratio is presently 3.7 days.

Altair Engineering Stock Performance

NASDAQ:ALTR opened at $110.41 on Monday. The company’s 50-day moving average is $107.17 and its two-hundred day moving average is $98.26. The firm has a market capitalization of $9.39 billion, a price-to-earnings ratio of 290.56, a PEG ratio of 11.34 and a beta of 1.42. 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 has a 1-year low of $75.71 and a 1-year high of $113.12.

Analysts Set New Price Targets

ALTR has been the topic of several research reports. Loop Capital restated a “hold” rating and issued a $113.00 target price on shares of Altair Engineering in a research report on Thursday, October 31st. Royal Bank of Canada lifted 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. Wolfe Research cut shares of Altair Engineering from a “strong-buy” rating to a “hold” rating in a research report on Sunday, November 3rd. Needham & Company LLC restated a “hold” rating and set a $100.00 price target on shares of Altair Engineering in a research report on Thursday, October 31st. Finally, William Blair reiterated a “market perform” rating on shares of Altair Engineering in a report on Thursday, October 31st. One analyst has rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Altair Engineering presently has a consensus rating of “Hold” and a consensus price target of $100.71.

Insider Activity at Altair Engineering

In other news, insider Ravi Kunju sold 360 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $103.65, for a total transaction of $37,314.00. Following the completion of the sale, the insider now owns 30,305 shares of the company’s stock, valued at $3,141,113.25. The trade was a 1.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Christ Revocable Trust sold 100,000 shares of the firm’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $106.57, for a total transaction of $10,657,000.00. The disclosure for this sale can be found here. Insiders sold a total of 181,447 shares of company stock worth $19,214,933 in the last 90 days. Corporate insiders own 21.75% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC raised its position in Altair Engineering by 14.6% in the fourth quarter. GAMMA Investing LLC now owns 729 shares of the software’s stock valued at $80,000 after purchasing an additional 93 shares during the period. New York State Teachers Retirement System raised its holdings in Altair Engineering by 1.2% in the 3rd quarter. New York State Teachers Retirement System now owns 8,500 shares of the software’s stock valued at $812,000 after buying an additional 100 shares during the period. UMB Bank n.a. lifted its position in Altair Engineering by 77.0% in the fourth quarter. UMB Bank n.a. now owns 285 shares of the software’s stock valued at $31,000 after buying an additional 124 shares during the last quarter. ProShare Advisors LLC boosted its stake in Altair Engineering by 1.6% during the second quarter. ProShare Advisors LLC now owns 10,219 shares of the software’s stock worth $1,002,000 after buying an additional 160 shares during the period. Finally, Ballentine Partners LLC increased its position in shares of Altair Engineering by 8.5% during the third quarter. Ballentine Partners LLC now owns 2,236 shares of the software’s stock valued at $214,000 after acquiring an additional 175 shares during the last quarter. 63.38% of the stock is currently owned by institutional investors and hedge funds.

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.