QRG Capital Management Inc. Increases Position in Altair Engineering Inc. (NASDAQ:ALTR)

QRG Capital Management Inc. increased its stake in shares of Altair Engineering Inc. (NASDAQ:ALTR) by 9.2% in the third quarter, HoldingsChannel reports. The firm owned 25,874 shares of the software’s stock after buying an additional 2,190 shares during the period. QRG Capital Management Inc.’s holdings in Altair Engineering were worth $2,471,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Blue Trust Inc. raised its position in shares of Altair Engineering by 572.1% during the 3rd quarter. Blue Trust Inc. now owns 289 shares of the software’s stock valued at $28,000 after buying an additional 246 shares during the period. GAMMA Investing LLC grew its stake in Altair Engineering by 81.7% in the 2nd quarter. GAMMA Investing LLC now owns 418 shares of the software’s stock worth $41,000 after acquiring an additional 188 shares during the period. FSC Wealth Advisors LLC grew its position in Altair Engineering by 41.3% during the second quarter. FSC Wealth Advisors LLC now owns 832 shares of the software’s stock valued at $82,000 after acquiring an additional 243 shares during the period. Van ECK Associates Corp grew its holdings in Altair Engineering by 41.7% during the 2nd quarter. Van ECK Associates Corp now owns 1,057 shares of the software’s stock valued at $104,000 after purchasing an additional 311 shares in the last quarter. Finally, SG Americas Securities LLC bought a new stake in Altair Engineering in the first quarter valued at about $177,000. Institutional investors and hedge funds own 63.38% of the company’s stock.

Altair Engineering Stock Performance

Shares of NASDAQ ALTR opened at $103.99 on Thursday. Altair Engineering Inc. has a 52-week low of $66.51 and a 52-week high of $113.12. The stock has a market capitalization of $8.83 billion, a P/E ratio of 273.66, a P/E/G ratio of 13.28 and a beta of 1.44. The firm’s 50-day moving average price is $94.86 and its two-hundred day moving average price is $92.01. The company has a quick ratio of 3.27, a current ratio of 3.27 and a debt-to-equity ratio of 0.27.

Analyst Ratings Changes

A number of equities analysts recently weighed in on ALTR shares. Loop Capital reissued a “hold” rating and issued a $113.00 price target on shares of Altair Engineering in a research note on Thursday, October 31st. William Blair restated a “market perform” rating on shares of Altair Engineering in a report on Thursday, October 31st. Wolfe Research cut shares of Altair Engineering from a “strong-buy” rating to a “hold” rating in a research 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 report on Thursday, October 31st. Finally, Rosenblatt Securities increased their price target on Altair Engineering from $88.00 to $113.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. One analyst has rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $100.71.

Insider Buying and Selling at Altair Engineering

In other Altair Engineering news, Director Teresa A. Harris sold 620 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $104.10, for a total value 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 represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Teresa A. Harris sold 620 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 $64,542.00. Following the completion of the transaction, the director now owns 21,242 shares of the company’s stock, valued at approximately $2,211,292.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO James Ralph Scapa sold 13,000 shares of the company’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $102.59, for a total transaction of $1,333,670.00. Following the transaction, the chief executive officer now owns 134,045 shares in the company, valued at $13,751,676.55. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 360,360 shares of company stock valued at $35,490,008 in the last 90 days. 21.75% of the stock is currently owned by insiders.

Altair Engineering 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.