Amalgamated Bank grew its position in shares of Altair Engineering Inc. (NASDAQ:ALTR – Free Report) by 1,378.0% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 27,594 shares of the software’s stock after buying an additional 25,727 shares during the period. Amalgamated Bank’s holdings in Altair Engineering were worth $2,706,000 as of its most recent SEC filing.
A number of other large investors also recently bought and sold shares of the company. Dimensional Fund Advisors LP lifted its holdings in shares of Altair Engineering by 2.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 470,907 shares of the software’s stock worth $39,627,000 after purchasing an additional 9,714 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Altair Engineering by 11.6% in the 4th quarter. Principal Financial Group Inc. now owns 6,268 shares of the software’s stock worth $527,000 after purchasing an additional 653 shares during the last quarter. Norges Bank bought a new stake in shares of Altair Engineering in the 4th quarter worth approximately $8,041,000. TD Asset Management Inc bought a new stake in shares of Altair Engineering in the 4th quarter worth approximately $2,255,000. Finally, Olympiad Research LP bought a new stake in shares of Altair Engineering in the 4th quarter worth approximately $290,000. Institutional investors own 63.38% of the company’s stock.
Altair Engineering Stock Down 0.4 %
ALTR opened at $93.71 on Wednesday. Altair Engineering Inc. has a 12 month low of $57.59 and a 12 month high of $101.39. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.14 and a quick ratio of 3.14. The stock has a market cap of $7.78 billion, a P/E ratio of 1,041.22, a P/E/G ratio of 10.94 and a beta of 1.45. The stock’s 50 day moving average price is $88.86 and its 200 day moving average price is $88.77.
Analysts Set New Price Targets
Several analysts recently issued reports on the company. JPMorgan Chase & Co. downgraded Altair Engineering from an “overweight” rating to a “neutral” rating and set a $95.00 price target on the stock. in a report on Monday, July 15th. The Goldman Sachs Group cut Altair Engineering from a “neutral” rating to a “sell” rating and lowered their target price for the company from $85.00 to $71.00 in a research report on Friday, August 2nd. Finally, Needham & Company LLC restated a “buy” rating and issued a $100.00 target price on shares of Altair Engineering in a research report on Friday, August 2nd. One analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Altair Engineering presently has a consensus rating of “Hold” and an average price target of $90.67.
Read Our Latest Analysis on Altair Engineering
Insider Activity
In other news, major shareholder George J. Christ sold 100,000 shares of Altair Engineering stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $98.40, for a total transaction of $9,840,000.00. Following the transaction, the insider now directly owns 200,000 shares in the company, valued at approximately $19,680,000. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CEO James Ralph Scapa sold 13,000 shares of Altair Engineering stock in a transaction on Friday, June 28th. The stock was sold at an average price of $98.26, for a total value of $1,277,380.00. Following the transaction, the chief executive officer now directly owns 134,045 shares in the company, valued at approximately $13,171,261.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder George J. Christ sold 100,000 shares of the company’s stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $98.40, for a total value of $9,840,000.00. Following the sale, the insider now directly owns 200,000 shares of the company’s stock, valued at $19,680,000. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 153,860 shares of company stock worth $14,739,205. 21.75% of the stock is owned by company insiders.
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.
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