Altair Engineering Inc. (NASDAQ:ALTR) Given Consensus Recommendation of “Moderate Buy” by Analysts

Altair Engineering Inc. (NASDAQ:ALTR) has earned a consensus rating of “Moderate Buy” from the six brokerages that are presently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $73.00.

ALTR has been the topic of several recent analyst reports. Rosenblatt Securities restated a “buy” rating and set a $74.00 price objective on shares of Altair Engineering in a research note on Tuesday, August 29th. Royal Bank of Canada raised their price objective on Altair Engineering from $71.00 to $74.00 and gave the company a “sector perform” rating in a research report on Friday, August 4th. Finally, Needham & Company LLC reissued a “buy” rating and set a $77.00 target price on shares of Altair Engineering in a report on Friday, August 4th.

Altair Engineering Price Performance

Shares of ALTR opened at $69.35 on Thursday. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 0.36. The company’s fifty day simple moving average is $63.98 and its 200 day simple moving average is $68.21. Altair Engineering has a 1-year low of $43.68 and a 1-year high of $78.49. The company has a market cap of $5.63 billion, a price-to-earnings ratio of -119.57, a PEG ratio of 20.65 and a beta of 1.44.

Insider Transactions at Altair Engineering

In related news, major shareholder Jrs Investments Llc sold 5,000 shares of the business’s stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $62.47, for a total value of $312,350.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Altair Engineering news, major shareholder Jrs Investments Llc sold 5,000 shares of Altair Engineering stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $62.47, for a total value of $312,350.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO James Ralph Scapa sold 10,000 shares of the stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $65.29, for a total transaction of $652,900.00. Following the transaction, the chief executive officer now owns 103,591 shares in the company, valued at approximately $6,763,456.39. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 48,711 shares of company stock worth $3,145,639. Company insiders own 22.17% of the company’s stock.

Hedge Funds Weigh In On Altair Engineering

Hedge funds have recently added to or reduced their stakes in the stock. Altshuler Shaham Ltd bought a new position in shares of Altair Engineering in the second quarter worth $28,000. UBS Group AG increased its holdings in Altair Engineering by 48.7% in the 4th quarter. UBS Group AG now owns 938 shares of the software’s stock valued at $43,000 after buying an additional 307 shares during the period. Global Retirement Partners LLC raised its position in shares of Altair Engineering by 91.6% in the 1st quarter. Global Retirement Partners LLC now owns 801 shares of the software’s stock valued at $54,000 after buying an additional 383 shares in the last quarter. Fifth Third Bancorp lifted its holdings in shares of Altair Engineering by 41.3% during the 2nd quarter. Fifth Third Bancorp now owns 937 shares of the software’s stock worth $71,000 after acquiring an additional 274 shares during the period. Finally, Harvest Fund Management Co. Ltd boosted its position in shares of Altair Engineering by 138.6% during the 1st quarter. Harvest Fund Management Co. Ltd now owns 1,348 shares of the software’s stock worth $97,000 after acquiring an additional 783 shares in the last quarter. Institutional investors own 63.38% of the company’s stock.

About Altair Engineering

Altair Engineering Inc, together with its subsidiaries, provides software and cloud solutions in the areas of simulation, high-performance computing, data analytics, and artificial intelligence in the United States and internationally. The company operates in two segments: Software and Client Engineering Services.