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

Shares of Altair Engineering Inc. (NASDAQ:ALTR) have received a consensus rating of “Hold” from the nine research firms that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $100.71.

A number of brokerages recently issued reports on ALTR. Wolfe Research lowered Altair Engineering from a “strong-buy” rating to a “hold” rating in a research note on Sunday, November 3rd. William Blair reissued a “market perform” rating on shares of Altair Engineering in a research note 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 note on Thursday, October 31st. Rosenblatt Securities raised their price target on Altair Engineering from $88.00 to $113.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Finally, Royal Bank of Canada raised their price target on Altair Engineering from $90.00 to $113.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 31st.

Altair Engineering Price Performance

Shares of Altair Engineering stock opened at $105.81 on Thursday. The stock has a market cap of $9.00 billion, a price-to-earnings ratio of 278.45, a price-to-earnings-growth ratio of 12.16 and a beta of 1.44. 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 stock has a 50 day moving average price of $100.96 and a 200-day moving average price of $94.81. Altair Engineering has a one year low of $70.07 and a one year high of $113.12.

Insider Buying and Selling at Altair Engineering

In other news, major shareholder Christ Revocable Trust sold 50,048 shares of the business’s stock in a transaction on Friday, September 27th. The stock was sold at an average price of $95.07, for a total value of $4,758,063.36. Following the completion of the transaction, the insider now directly owns 149,952 shares of the company’s stock, valued at approximately $14,255,936.64. The trade was a 25.02 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Jrs Investments Llc sold 6,500 shares of the business’s stock in a transaction on Monday, September 30th. The stock was sold at an average price of $95.10, for a total value of $618,150.00. The disclosure for this sale can be found here. Insiders sold a total of 361,924 shares of company stock valued at $35,986,262 in the last ninety days. Corporate insiders own 21.75% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in ALTR. William Blair Investment Management LLC purchased a new position in Altair Engineering during the 2nd quarter worth $91,589,000. Bank of New York Mellon Corp grew its stake in Altair Engineering by 121.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 569,109 shares of the software’s stock valued at $55,818,000 after purchasing an additional 312,448 shares during the last quarter. Principal Financial Group Inc. grew its stake in Altair Engineering by 772.7% during the 2nd quarter. Principal Financial Group Inc. now owns 212,560 shares of the software’s stock valued at $20,848,000 after purchasing an additional 188,203 shares during the last quarter. Great Lakes Advisors LLC purchased a new stake in Altair Engineering during the 2nd quarter valued at about $13,343,000. Finally, Candriam S.C.A. grew its stake in Altair Engineering by 28.9% during the 2nd quarter. Candriam S.C.A. now owns 560,565 shares of the software’s stock valued at $54,978,000 after purchasing an additional 125,816 shares during the last quarter. 63.38% of the stock is currently owned by hedge funds and other institutional investors.

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.