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

Shares of Altair Engineering Inc. (NASDAQ:ALTR) have been assigned an average recommendation of “Hold” from the nine analysts that are presently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $100.71.

ALTR has been the topic of several analyst reports. Wolfe Research lowered shares of Altair Engineering from a “strong-buy” rating to a “hold” rating in a research report on Sunday, November 3rd. Loop Capital reaffirmed a “hold” rating and issued a $113.00 price target on shares of Altair Engineering in a research note on Thursday, October 31st. Royal Bank of Canada increased their price target on Altair Engineering from $90.00 to $113.00 and gave the stock a “sector perform” rating in a report on Thursday, October 31st. Needham & Company LLC restated a “hold” rating and issued a $100.00 price objective on shares of Altair Engineering in a report on Thursday, October 31st. Finally, Rosenblatt Securities increased their target price 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.

Insiders Place Their Bets

In related news, CRO Nelson Dias sold 22,500 shares of the business’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $106.23, for a total value of $2,390,175.00. Following the completion of the sale, the executive now directly owns 48,437 shares of the company’s stock, valued at $5,145,462.51. The trade was a 31.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Jrs Investments Llc sold 6,500 shares of the company’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $105.69, for a total transaction of $686,985.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 61,947 shares of company stock valued at $6,557,428. 21.75% of the stock is owned by corporate insiders.

Institutional Trading of Altair Engineering

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Massachusetts Financial Services Co. MA increased its holdings in shares of Altair Engineering by 31.6% in the third 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 period. Fisher Asset Management LLC increased its stake in Altair Engineering by 27.0% in the 3rd quarter. Fisher Asset Management LLC now owns 401,612 shares of the software’s stock valued at $38,358,000 after buying an additional 85,303 shares during the period. Victory Capital Management Inc. raised its position in Altair Engineering by 25.2% during the 3rd 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. State Street Corp lifted its stake in shares of Altair Engineering by 3.3% in the 3rd quarter. State Street Corp now owns 2,053,957 shares of the software’s stock worth $196,173,000 after acquiring an additional 65,589 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in shares of Altair Engineering by 3.9% in the third quarter. Geode Capital Management LLC now owns 1,423,880 shares of the software’s stock valued at $136,020,000 after acquiring an additional 53,088 shares in the last quarter. 63.38% of the stock is owned by hedge funds and other institutional investors.

Altair Engineering Price Performance

Shares of ALTR stock opened at $110.51 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 company has a market capitalization of $9.40 billion, a PE ratio of 290.82, a price-to-earnings-growth ratio of 10.62 and a beta of 1.42. The firm’s 50-day moving average is $108.33 and its two-hundred day moving average is $99.01. Altair Engineering has a 12 month low of $75.71 and a 12 month 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.