Altair Engineering (NASDAQ:ALTR) Shares Cross Above 200-Day Moving Average – What’s Next?

Altair Engineering Inc. (NASDAQ:ALTR)’s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $97.45 and traded as high as $110.07. Altair Engineering shares last traded at $109.91, with a volume of 603,653 shares traded.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on ALTR shares. William Blair reissued a “market perform” rating on shares of Altair Engineering in a research note 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, November 3rd. Rosenblatt Securities raised their price objective on shares of Altair Engineering from $88.00 to $113.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Royal Bank of Canada increased 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 note on Thursday, October 31st. Finally, Loop Capital reiterated a “hold” rating and issued a $113.00 price objective on shares of Altair Engineering in a report on Thursday, October 31st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $100.71.

Altair Engineering Stock Performance

The company has a debt-to-equity ratio of 0.27, a quick ratio of 3.27 and a current ratio of 3.27. The company has a market capitalization of $9.35 billion, a price-to-earnings ratio of 289.24, a P/E/G ratio of 12.16 and a beta of 1.42. The firm has a 50-day simple moving average of $106.28 and a two-hundred day simple moving average of $97.45.

Insider Buying and Selling

In related news, CEO James Ralph Scapa sold 13,000 shares of Altair Engineering stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $102.59, for a total value of $1,333,670.00. Following the completion of the transaction, the chief executive officer now owns 134,045 shares in the company, valued at $13,751,676.55. The trade was a 8.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder George J. Christ sold 49,952 shares of the stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $95.72, for a total transaction of $4,781,405.44. Following the completion of the sale, the insider now directly owns 100,000 shares in the company, valued at approximately $9,572,000. This represents a 33.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 331,399 shares of company stock valued at $33,519,513 in the last ninety days. Company insiders own 21.75% of the company’s stock.

Hedge Funds Weigh In On Altair Engineering

Institutional investors and hedge funds have recently modified their holdings of the company. Blue Trust Inc. lifted its holdings 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 buying an additional 246 shares during the last quarter. GAMMA Investing LLC lifted its stake in Altair Engineering by 52.2% during the third 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. Van ECK Associates Corp boosted its holdings in Altair Engineering by 41.7% in the second 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. KBC Group NV boosted its holdings in Altair Engineering by 17.9% in the third quarter. KBC Group NV now owns 1,640 shares of the software’s stock valued at $157,000 after purchasing an additional 249 shares in the last quarter. Finally, Ballentine Partners LLC purchased a new position in Altair Engineering in the second quarter valued at approximately $202,000. Institutional investors and hedge funds 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 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.