GAMMA Investing LLC Has $80,000 Stock Holdings in Altair Engineering Inc. (NASDAQ:ALTR)

GAMMA Investing LLC boosted its position in shares of Altair Engineering Inc. (NASDAQ:ALTR) by 14.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 729 shares of the software’s stock after purchasing an additional 93 shares during the period. GAMMA Investing LLC’s holdings in Altair Engineering were worth $80,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. William Blair Investment Management LLC bought a new stake in shares of Altair Engineering in the 2nd quarter valued at approximately $91,589,000. Massachusetts Financial Services Co. MA lifted its stake in shares of Altair Engineering by 31.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 392,343 shares of the software’s stock valued at $37,473,000 after purchasing an additional 94,219 shares during the last quarter. Fisher Asset Management LLC boosted its holdings in Altair Engineering by 27.0% in the third quarter. Fisher Asset Management LLC now owns 401,612 shares of the software’s stock worth $38,358,000 after purchasing an additional 85,303 shares in the last quarter. Victory Capital Management Inc. increased its position in Altair Engineering by 25.2% during the third quarter. Victory Capital Management Inc. now owns 388,089 shares of the software’s stock worth $37,066,000 after buying an additional 78,048 shares during the last quarter. Finally, State Street Corp raised its holdings in Altair Engineering by 3.3% during the third quarter. State Street Corp now owns 2,053,957 shares of the software’s stock valued at $196,173,000 after buying an additional 65,589 shares in the last quarter. Hedge funds and other institutional investors own 63.38% of the company’s stock.

Altair Engineering Trading Up 0.0 %

Altair Engineering stock opened at $110.25 on Friday. The business has a 50 day moving average price of $106.55 and a two-hundred day moving average price of $97.83. The company has a quick ratio of 3.27, a current ratio of 3.27 and a debt-to-equity ratio of 0.27. Altair Engineering Inc. has a 12 month low of $75.71 and a 12 month high of $113.12. The stock has a market cap of $9.38 billion, a price-to-earnings ratio of 290.14, a price-to-earnings-growth ratio of 12.16 and a beta of 1.42.

Wall Street Analysts Forecast Growth

ALTR has been the subject of several analyst reports. Needham & Company LLC restated a “hold” rating and issued a $100.00 target price on shares of Altair Engineering in a report on Thursday, October 31st. Rosenblatt Securities boosted their price objective on shares of Altair Engineering from $88.00 to $113.00 and gave the stock a “neutral” rating in a research note 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 note on Thursday, October 31st. William Blair reaffirmed a “market perform” rating on shares of Altair Engineering in a research report on Thursday, October 31st. Finally, Royal Bank of Canada boosted their price objective on Altair Engineering from $90.00 to $113.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 31st. One analyst has rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $100.71.

Insider Activity

In related news, major shareholder Christ Revocable Trust sold 100,000 shares of the company’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $106.57, for a total value of $10,657,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Teresa A. Harris sold 620 shares of the stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $104.10, for a total transaction of $64,542.00. Following the completion of the transaction, the director now directly owns 21,242 shares of the company’s stock, valued at $2,211,292.20. This trade represents a 2.84 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 183,623 shares of company stock worth $19,422,328. Company insiders own 21.75% of the company’s stock.

Altair Engineering 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.