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

Shares of Altair Engineering Inc. (NASDAQ:ALTR) have received a consensus rating of “Hold” from the nine brokerages that are presently covering the stock, MarketBeat.com reports. 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 company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $100.71.

Several equities research analysts have commented on the stock. Royal Bank of Canada boosted their price target on shares of Altair Engineering from $90.00 to $113.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 31st. William Blair reissued a “market perform” rating on shares of Altair Engineering in a research report on Thursday, October 31st. The Goldman Sachs Group lowered Altair Engineering from a “neutral” rating to a “sell” rating and lowered their price target for the stock from $85.00 to $71.00 in a research report on Friday, August 2nd. Wolfe Research downgraded Altair Engineering from a “strong-buy” rating to a “hold” rating in a report on Sunday, November 3rd. Finally, Needham & Company LLC restated a “hold” rating and set a $100.00 target price on shares of Altair Engineering in a report on Thursday, October 31st.

Insider Transactions at Altair Engineering

In other Altair Engineering news, insider Ravi Kunju sold 360 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $103.65, for a total value of $37,314.00. Following the completion of the sale, the insider now owns 30,305 shares of the company’s stock, valued at $3,141,113.25. The trade was a 1.17 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Teresa A. Harris sold 620 shares of Altair Engineering stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $89.70, for a total transaction of $55,614.00. Following the completion of the sale, the director now owns 21,242 shares of the company’s stock, valued at approximately $1,905,407.40. The trade was a 2.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 362,544 shares of company stock worth $35,717,201. 21.75% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Blue Trust Inc. grew its stake in Altair Engineering by 572.1% during the third quarter. Blue Trust Inc. now owns 289 shares of the software’s stock worth $28,000 after buying an additional 246 shares in the last quarter. GAMMA Investing LLC raised its position in Altair Engineering by 81.7% during the second quarter. GAMMA Investing LLC now owns 418 shares of the software’s stock valued at $41,000 after purchasing an additional 188 shares in the last quarter. FSC Wealth Advisors LLC lifted its stake in Altair Engineering by 41.3% during the second quarter. FSC Wealth Advisors LLC now owns 832 shares of the software’s stock worth $82,000 after purchasing an additional 243 shares during the last quarter. Van ECK Associates Corp increased its stake in shares of Altair Engineering by 41.7% in the 2nd quarter. Van ECK Associates Corp now owns 1,057 shares of the software’s stock valued at $104,000 after purchasing an additional 311 shares during the last quarter. Finally, KBC Group NV raised its holdings 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 worth $157,000 after buying an additional 249 shares in the last quarter. Institutional investors own 63.38% of the company’s stock.

Altair Engineering Trading Down 0.1 %

NASDAQ:ALTR opened at $103.72 on Friday. 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 has a twelve month low of $68.87 and a twelve month high of $113.12. The company has a market cap of $8.82 billion, a P/E ratio of 272.95, a price-to-earnings-growth ratio of 11.95 and a beta of 1.44. The business has a 50 day moving average price of $97.02 and a two-hundred day moving average price of $92.89.

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.