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

Shares of Altair Engineering Inc. (NASDAQ:ALTR) have received an average recommendation of “Hold” from the nine brokerages that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and one has given a buy recommendation to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $100.71.

A number of research firms have recently weighed in on ALTR. Loop Capital restated a “hold” rating and set a $113.00 price target on shares of Altair Engineering in a report on Thursday, October 31st. The Goldman Sachs Group lowered Altair Engineering from a “neutral” rating to a “sell” rating and cut their target price for the company from $85.00 to $71.00 in a report on Friday, August 2nd. Needham & Company LLC reissued a “hold” rating and set a $100.00 price objective on shares of Altair Engineering in a report on Thursday, October 31st. Rosenblatt Securities raised their price objective on Altair Engineering from $88.00 to $113.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Finally, William Blair reaffirmed a “market perform” rating on shares of Altair Engineering in a research report on Thursday, October 31st.

Altair Engineering Price Performance

Shares of ALTR opened at $103.75 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 3.27 and a current ratio of 3.27. The firm has a market cap of $8.83 billion, a PE ratio of 273.03, a PEG ratio of 11.93 and a beta of 1.44. The firm’s 50 day moving average price is $97.40 and its 200 day moving average price is $93.13. Altair Engineering has a twelve month low of $68.87 and a twelve month high of $113.12.

Insider Buying and Selling at Altair Engineering

In related news, insider Jeffrey Marraccini sold 1,824 shares of the stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $104.10, for a total value of $189,878.40. Following the completion of the sale, the insider now owns 4,680 shares in the company, valued at approximately $487,188. This trade represents a 28.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 transaction, the insider now owns 30,305 shares in the company, valued at $3,141,113.25. This represents a 1.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 362,544 shares of company stock valued at $35,717,201 in the last 90 days. 21.75% of the stock is currently owned by insiders.

Institutional Trading of Altair Engineering

Institutional investors have recently modified their holdings of the company. William Blair Investment Management LLC bought a new position in Altair Engineering in the second quarter worth $91,589,000. Bank of New York Mellon Corp lifted its holdings in shares of Altair Engineering by 121.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 569,109 shares of the software’s stock worth $55,818,000 after acquiring an additional 312,448 shares during the period. Jane Street Group LLC boosted its position in shares of Altair Engineering by 960.2% during the 1st quarter. Jane Street Group LLC now owns 303,672 shares of the software’s stock valued at $26,161,000 after acquiring an additional 275,030 shares in the last quarter. Matrix Capital Management Company LP increased its stake in Altair Engineering by 1.6% in the first quarter. Matrix Capital Management Company LP now owns 12,430,000 shares of the software’s stock valued at $1,070,844,000 after acquiring an additional 196,826 shares during the period. Finally, Principal Financial Group Inc. raised its position in Altair Engineering by 772.7% in the second quarter. Principal Financial Group Inc. now owns 212,560 shares of the software’s stock worth $20,848,000 after purchasing an additional 188,203 shares in the last quarter. Institutional investors and hedge funds own 63.38% of the company’s stock.

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.