Altair Engineering (NASDAQ:ALTR) Lowered to Hold Rating by Wolfe Research

Wolfe Research downgraded shares of Altair Engineering (NASDAQ:ALTR) from a strong-buy rating to a hold rating in a report released on Sunday morning, Zacks.com reports.

A number of other equities analysts have also commented on ALTR. Royal Bank of Canada boosted their price target on shares of Altair Engineering from $90.00 to $113.00 and gave the company a “sector perform” rating in a research report on Thursday, October 31st. Rosenblatt Securities boosted their target price on Altair Engineering from $88.00 to $113.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Loop Capital reaffirmed a “hold” rating and set a $113.00 price target on shares of Altair Engineering in a report on Thursday, October 31st. William Blair reiterated a “market perform” rating on shares of Altair Engineering in a research report on Thursday, October 31st. 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. One analyst has rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Altair Engineering has a consensus rating of “Hold” and an average target price of $100.71.

Altair Engineering Stock Performance

Shares of NASDAQ:ALTR opened at $104.52 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 business’s fifty day moving average price is $94.57 and its two-hundred day moving average price is $91.85. Altair Engineering has a fifty-two week low of $65.25 and a fifty-two week high of $113.12. The stock has a market capitalization of $8.87 billion, a price-to-earnings ratio of 275.05, a price-to-earnings-growth ratio of 13.28 and a beta of 1.44.

Insider Activity

In related news, major shareholder Jrs Investments Llc sold 6,500 shares of the firm’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $102.59, for a total value of $666,835.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO James Ralph Scapa sold 13,000 shares of the stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $89.04, for a total value of $1,157,520.00. Following the transaction, the chief executive officer now owns 134,045 shares of the company’s stock, valued at $11,935,366.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Jrs Investments Llc sold 6,500 shares of Altair Engineering stock in a transaction on Monday, October 28th. The stock was sold at an average price of $102.59, for a total value of $666,835.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 359,740 shares of company stock valued at $35,425,466. Company insiders own 21.75% of the company’s stock.

Hedge Funds Weigh In On Altair Engineering

Institutional investors have recently modified their holdings of the stock. Blue Trust Inc. boosted its stake in Altair Engineering by 572.1% during the 3rd quarter. Blue Trust Inc. now owns 289 shares of the software’s stock worth $28,000 after acquiring an additional 246 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of Altair Engineering by 81.7% during the second quarter. GAMMA Investing LLC now owns 418 shares of the software’s stock worth $41,000 after purchasing an additional 188 shares in the last quarter. FSC Wealth Advisors LLC grew its holdings in shares of Altair Engineering by 41.3% in the 2nd quarter. FSC Wealth Advisors LLC now owns 832 shares of the software’s stock valued at $82,000 after buying an additional 243 shares during the period. Van ECK Associates Corp increased its position 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 buying an additional 311 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new stake in Altair Engineering during the 1st quarter worth $177,000. 63.38% of the stock is currently owned by institutional investors and hedge funds.

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.