Altair Engineering Inc. (NASDAQ:ALTR) Shares Bought by QRG Capital Management Inc.

QRG Capital Management Inc. lifted its stake in shares of Altair Engineering Inc. (NASDAQ:ALTR) by 9.2% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 25,874 shares of the software’s stock after buying an additional 2,190 shares during the quarter. QRG Capital Management Inc.’s holdings in Altair Engineering were worth $2,471,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC increased its position in shares of Altair Engineering by 52.2% in the 3rd quarter. GAMMA Investing LLC now owns 636 shares of the software’s stock worth $61,000 after purchasing an additional 218 shares during the last quarter. Russell Investments Group Ltd. grew its position in Altair Engineering by 5,564.8% in the 1st quarter. Russell Investments Group Ltd. now owns 31,043 shares of the software’s stock valued at $2,676,000 after buying an additional 30,495 shares in the last quarter. Moody Aldrich Partners LLC raised its stake in shares of Altair Engineering by 15.2% in the 3rd quarter. Moody Aldrich Partners LLC now owns 75,233 shares of the software’s stock worth $7,186,000 after buying an additional 9,907 shares in the last quarter. Linden Thomas Advisory Services LLC bought a new stake in shares of Altair Engineering during the 2nd quarter worth $629,000. Finally, Jane Street Group LLC grew its position in Altair Engineering by 960.2% during the 1st quarter. Jane Street Group LLC now owns 303,672 shares of the software’s stock worth $26,161,000 after purchasing an additional 275,030 shares in the last quarter. 63.38% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Altair Engineering

In related news, Director Teresa A. Harris sold 620 shares of Altair Engineering stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $104.10, for a total transaction of $64,542.00. Following the completion of the sale, the director now owns 21,242 shares of the company’s stock, valued at approximately $2,211,292.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, major shareholder George J. Christ sold 2,176 shares of Altair Engineering stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $95.31, for a total transaction of $207,394.56. Following the completion of the transaction, the insider now directly owns 300,000 shares in the company, valued at approximately $28,593,000. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Teresa A. Harris sold 620 shares of the stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $104.10, for a total transaction of $64,542.00. Following the sale, the director now owns 21,242 shares in the company, valued at approximately $2,211,292.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 360,360 shares of company stock worth $35,490,008. 21.75% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on ALTR shares. The Goldman Sachs Group cut shares of Altair Engineering from a “neutral” rating to a “sell” rating and decreased their price objective for the stock from $85.00 to $71.00 in a report on Friday, August 2nd. Wolfe Research lowered shares of Altair Engineering from a “strong-buy” rating to a “hold” rating in a report on Sunday. Needham & Company LLC reaffirmed a “hold” rating and set a $100.00 price target on shares of Altair Engineering in a research note on Thursday, October 31st. 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 report on Thursday, October 31st. Finally, Loop Capital reaffirmed a “hold” rating and set a $113.00 price target on shares of Altair Engineering in a research note on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, Altair Engineering presently has an average rating of “Hold” and an average target price of $100.71.

Altair Engineering Price Performance

ALTR opened at $103.99 on Thursday. 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 firm’s fifty day moving average price is $94.86 and its two-hundred day moving average price is $92.01. Altair Engineering Inc. has a 1 year low of $66.51 and a 1 year high of $113.12. The company has a market capitalization of $8.83 billion, a price-to-earnings ratio of 273.66, a P/E/G ratio of 13.28 and a beta of 1.44.

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.