Altair Engineering Inc. (NASDAQ:ALTR) Short Interest Up 13.4% in January

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

Insider Activity

In related news, major shareholder Jrs Investments Llc sold 6,500 shares of Altair Engineering stock in a transaction on Friday, November 29th. The stock was sold at an average price of $105.69, for a total transaction of $686,985.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Ravi Kunju sold 360 shares of the company’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $103.65, for a total value of $37,314.00. Following the completion of the sale, the insider now owns 30,305 shares of the company’s stock, valued at approximately $3,141,113.25. The trade was a 1.17 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 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

A number of large investors have recently modified their holdings of the company. Blue Trust Inc. raised 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 purchasing an additional 246 shares in the last quarter. UMB Bank n.a. lifted its stake in shares of Altair Engineering by 77.0% during the fourth quarter. UMB Bank n.a. now owns 285 shares of the software’s stock worth $31,000 after buying an additional 124 shares during the period. GAMMA Investing LLC lifted its position in Altair Engineering by 52.2% during the 3rd quarter. GAMMA Investing LLC now owns 636 shares of the software’s stock worth $61,000 after acquiring an additional 218 shares during the period. Van ECK Associates Corp grew its stake in Altair Engineering by 28.5% during the 3rd quarter. Van ECK Associates Corp now owns 1,358 shares of the software’s stock valued at $130,000 after purchasing an additional 301 shares during the last quarter. Finally, KBC Group NV lifted its holdings in shares of Altair Engineering by 17.9% during the third quarter. KBC Group NV now owns 1,640 shares of the software’s stock worth $157,000 after purchasing an additional 249 shares during the period. Hedge funds and other institutional investors own 63.38% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on ALTR shares. Rosenblatt Securities lifted 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. Loop Capital reiterated a “hold” rating and issued a $113.00 target price on shares of Altair Engineering in a research report on Thursday, October 31st. Needham & Company LLC reaffirmed a “hold” rating and set a $100.00 price objective on shares of Altair Engineering in a report on Thursday, October 31st. Royal Bank of Canada boosted their price target on shares of Altair Engineering from $90.00 to $113.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 31st. Finally, Wolfe Research cut shares of Altair Engineering from a “strong-buy” rating to a “hold” rating in a research report on Sunday, November 3rd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $100.71.

Altair Engineering Trading Down 0.1 %

ALTR stock traded down $0.16 during midday trading on Friday, reaching $110.35. The company’s stock had a trading volume of 807,410 shares, compared to its average volume of 775,981. The stock has a fifty day simple moving average of $108.43 and a two-hundred day simple moving average of $99.10. The company has a debt-to-equity ratio of 0.27, a quick ratio of 3.27 and a current ratio of 3.27. The firm has a market capitalization of $9.39 billion, a price-to-earnings ratio of 290.40, a PEG ratio of 10.63 and a beta of 1.42. Altair Engineering has a 1 year low of $75.71 and a 1 year high of $113.12.

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.