Altair Engineering Inc. (NASDAQ:ALTR) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of Altair Engineering Inc. (NASDAQ:ALTR) have been assigned a consensus rating of “Hold” from the nine analysts that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $100.71.

A number of research analysts have recently commented on ALTR shares. Royal Bank of Canada increased their price objective on Altair Engineering from $90.00 to $113.00 and gave the company a “sector perform” rating in a report on Thursday, October 31st. Needham & Company LLC reissued a “hold” rating and issued a $100.00 price target on shares of Altair Engineering in a research report on Thursday, October 31st. Wolfe Research downgraded shares of Altair Engineering from a “strong-buy” rating to a “hold” rating in a report on Sunday, November 3rd. Rosenblatt Securities raised their target price on shares of Altair Engineering from $88.00 to $113.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Finally, William Blair reissued a “market perform” rating on shares of Altair Engineering in a research report on Thursday, October 31st.

Altair Engineering Trading Up 0.1 %

Altair Engineering stock opened at $110.47 on Friday. Altair Engineering has a one year low of $75.71 and a one year high of $113.12. The company’s fifty day moving average price is $107.70 and its two-hundred day moving average price is $98.60. 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 company has a market capitalization of $9.40 billion, a price-to-earnings ratio of 290.72, a PEG ratio of 10.64 and a beta of 1.42.

Insider Activity at Altair Engineering

In other Altair Engineering news, insider Ravi Kunju sold 360 shares of the firm’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 transaction, the insider now owns 30,305 shares in the company, valued at $3,141,113.25. This trade represents a 1.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Matthew Charles Brown sold 1,048 shares of Altair Engineering stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $108.90, for a total value of $114,127.20. Following the sale, the chief financial officer now directly owns 55,519 shares in the company, valued at $6,046,019.10. The trade was a 1.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 81,447 shares of company stock worth $8,557,933. Company insiders own 21.75% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Blue Trust Inc. grew its position in shares of Altair Engineering by 572.1% during the 3rd quarter. Blue Trust Inc. now owns 289 shares of the software’s stock worth $28,000 after buying an additional 246 shares during the period. UMB Bank n.a. boosted its stake 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 acquiring an additional 124 shares during the last quarter. GAMMA Investing LLC grew its holdings 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 holdings in Altair Engineering by 28.5% during the 3rd quarter. Van ECK Associates Corp now owns 1,358 shares of the software’s stock worth $130,000 after acquiring an additional 301 shares during the period. Finally, KBC Group NV raised its position in shares of Altair Engineering by 17.9% during the 3rd quarter. KBC Group NV now owns 1,640 shares of the software’s stock valued at $157,000 after acquiring an additional 249 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.