Versor Investments LP Buys New Position in Altair Engineering Inc. (NASDAQ:ALTR)

Versor Investments LP purchased a new position in shares of Altair Engineering Inc. (NASDAQ:ALTR) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,099 shares of the software’s stock, valued at approximately $487,000.

Several other hedge funds have also made changes to their positions in the business. Blue Trust Inc. grew 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 purchasing an additional 246 shares in the last quarter. GAMMA Investing LLC raised its holdings in Altair Engineering by 81.7% in the second quarter. GAMMA Investing LLC now owns 418 shares of the software’s stock valued at $41,000 after acquiring an additional 188 shares in the last quarter. FSC Wealth Advisors LLC lifted its stake in Altair Engineering by 41.3% in the second quarter. FSC Wealth Advisors LLC now owns 832 shares of the software’s stock worth $82,000 after acquiring an additional 243 shares during the last quarter. 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 worth $104,000 after acquiring an additional 311 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new stake in shares of Altair Engineering in the 1st quarter valued at approximately $177,000. Institutional investors and hedge funds own 63.38% of the company’s stock.

Insiders Place Their Bets

In related news, CEO James Ralph Scapa sold 13,000 shares of Altair Engineering stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $89.04, for a total transaction of $1,157,520.00. Following the completion of the sale, the chief executive officer now owns 134,045 shares in the company, valued at approximately $11,935,366.80. This trade represents a 8.84 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Jrs Investments Llc sold 6,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $89.04, for a total transaction of $578,760.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 362,544 shares of company stock worth $35,717,201. 21.75% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

ALTR has been the subject of a number of analyst reports. Rosenblatt Securities boosted their target price on shares of Altair Engineering from $88.00 to $113.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Needham & Company LLC reiterated a “hold” rating and issued a $100.00 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 research report on Thursday, October 31st. Wolfe Research downgraded shares of Altair Engineering from a “strong-buy” rating to a “hold” rating in a research report on Sunday, November 3rd. Finally, Royal Bank of Canada lifted their target price on Altair Engineering from $90.00 to $113.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, Altair Engineering presently has a consensus rating of “Hold” and an average price target of $100.71.

Altair Engineering Price Performance

Shares of NASDAQ ALTR opened at $103.72 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. Altair Engineering Inc. has a one year low of $68.87 and a one year high of $113.12. The firm has a market capitalization of $8.82 billion, a P/E ratio of 272.95, a PEG ratio of 11.95 and a beta of 1.44. The company’s fifty day moving average is $97.02 and its two-hundred day moving average is $92.89.

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.