Altair Engineering Inc. (NASDAQ:ALTR) Shares Sold by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. cut its position in Altair Engineering Inc. (NASDAQ:ALTR) by 74.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,282 shares of the software’s stock after selling 68,759 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Altair Engineering were worth $2,224,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. GAMMA Investing LLC grew its position 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 buying an additional 218 shares during the last quarter. Moody Aldrich Partners LLC lifted its stake in shares of Altair Engineering by 15.2% in the 3rd quarter. Moody Aldrich Partners LLC now owns 75,233 shares of the software’s stock worth $7,186,000 after acquiring an additional 9,907 shares during the period. Linden Thomas Advisory Services LLC acquired a new stake in Altair Engineering in the second quarter valued at about $629,000. Jane Street Group LLC boosted its stake in shares of Altair Engineering by 960.2% in the first quarter. Jane Street Group LLC now owns 303,672 shares of the software’s stock valued at $26,161,000 after buying an additional 275,030 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its position in shares of Altair Engineering by 8.9% during the 2nd quarter. Envestnet Asset Management Inc. now owns 85,065 shares of the software’s stock worth $8,343,000 after purchasing an additional 6,956 shares in the last quarter. 63.38% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on ALTR shares. 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. Loop Capital restated a “hold” rating and set a $113.00 price objective on shares of Altair Engineering in a research report on Thursday, October 31st. Royal Bank of Canada upped their price objective on Altair Engineering from $90.00 to $113.00 and gave the company a “sector perform” rating in a research report on Thursday, October 31st. William Blair reaffirmed a “market perform” rating on shares of Altair Engineering in a research note on Thursday, October 31st. Finally, Wolfe Research lowered 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 assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $100.71.

Altair Engineering Trading Up 0.6 %

ALTR stock opened at $105.87 on Tuesday. Altair Engineering Inc. has a 52 week low of $70.07 and a 52 week high of $113.12. The company has a market cap of $9.01 billion, a price-to-earnings ratio of 278.61, a PEG ratio of 12.09 and a beta of 1.44. The company has a quick ratio of 3.27, a current ratio of 3.27 and a debt-to-equity ratio of 0.27. The business has a fifty day simple moving average of $99.54 and a 200-day simple moving average of $94.09.

Insider Transactions at Altair Engineering

In related news, major shareholder Jrs Investments Llc sold 6,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $89.04, for a total transaction of $578,760.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Ravi Kunju sold 360 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at $3,141,113.25. This trade represents a 1.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 362,544 shares of company stock worth $35,717,201 in the last three months. 21.75% of the stock is currently owned by company insiders.

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.