Blue Trust Inc. Acquires 536 Shares of Altair Engineering Inc. (NASDAQ:ALTR)

Blue Trust Inc. grew its stake in Altair Engineering Inc. (NASDAQ:ALTR) by 185.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 825 shares of the software’s stock after purchasing an additional 536 shares during the quarter. Blue Trust Inc.’s holdings in Altair Engineering were worth $90,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. UMB Bank n.a. increased its holdings 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 purchasing an additional 124 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Altair Engineering by 52.2% in the 3rd quarter. GAMMA Investing LLC now owns 636 shares of the software’s stock valued at $61,000 after acquiring an additional 218 shares during the last quarter. Van ECK Associates Corp increased its stake in shares of Altair Engineering by 28.5% in the 3rd quarter. Van ECK Associates Corp now owns 1,358 shares of the software’s stock valued at $130,000 after acquiring an additional 301 shares during the last quarter. KBC Group NV raised its position in shares of Altair Engineering by 17.9% in 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 period. Finally, Private Advisor Group LLC bought a new position in Altair Engineering during the 3rd quarter worth approximately $208,000. 63.38% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have commented on ALTR shares. Needham & Company LLC reaffirmed a “hold” rating and issued a $100.00 target price on shares of Altair Engineering in a research note on Thursday, October 31st. Rosenblatt Securities upped 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. William Blair reiterated a “market perform” rating on shares of Altair Engineering in a report on Thursday, October 31st. Wolfe Research downgraded Altair Engineering from a “strong-buy” rating to a “hold” rating in a report on Sunday, November 3rd. Finally, Loop Capital reiterated a “hold” rating and set a $113.00 price objective on shares of Altair Engineering in a report on Thursday, October 31st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $100.71.

Insider Buying and Selling at Altair Engineering

In other news, insider Ravi Kunju sold 360 shares of the firm’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 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Matthew Charles Brown sold 1,048 shares of the company’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $108.90, for a total value of $114,127.20. Following the sale, the chief financial officer now owns 55,519 shares in the company, valued at $6,046,019.10. The trade was a 1.85 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 59,503 shares of company stock worth $6,303,008. Corporate insiders own 21.75% of the company’s stock.

Altair Engineering Stock Performance

Shares of Altair Engineering stock opened at $110.47 on Friday. 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 firm has a market cap of $9.40 billion, a price-to-earnings ratio of 290.72, a price-to-earnings-growth ratio of 10.61 and a beta of 1.42. The stock’s 50-day moving average is $108.92 and its 200-day moving average is $99.72. Altair Engineering Inc. has a one year low of $75.71 and a one 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.