KBC Group NV Increases Stock Holdings in Altair Engineering Inc. (NASDAQ:ALTR)

KBC Group NV raised its stake in shares of Altair Engineering Inc. (NASDAQ:ALTR) by 17.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,640 shares of the software’s stock after purchasing an additional 249 shares during the quarter. KBC Group NV’s holdings in Altair Engineering were worth $157,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. SG Americas Securities LLC purchased a new stake in Altair Engineering during the 1st quarter valued at about $177,000. Sei Investments Co. grew its holdings in shares of Altair Engineering by 40.6% in the first quarter. Sei Investments Co. now owns 30,813 shares of the software’s stock worth $2,655,000 after purchasing an additional 8,905 shares during the last quarter. Russell Investments Group Ltd. increased its stake in shares of Altair Engineering by 5,564.8% in the first quarter. Russell Investments Group Ltd. now owns 31,043 shares of the software’s stock worth $2,676,000 after buying an additional 30,495 shares during the period. Vanguard Group Inc. raised its holdings in Altair Engineering by 3.2% during the 1st quarter. Vanguard Group Inc. now owns 5,944,285 shares of the software’s stock valued at $512,100,000 after buying an additional 182,840 shares during the last quarter. Finally, MQS Management LLC purchased a new stake in Altair Engineering during the 1st quarter valued at $203,000. Hedge funds and other institutional investors own 63.38% of the company’s stock.

Insiders Place Their Bets

In other Altair Engineering news, major shareholder Jrs Investments Llc sold 6,500 shares of Altair Engineering stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $89.04, for a total value of $578,760.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, 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 value of $1,157,520.00. Following the completion of the transaction, the chief executive officer now owns 134,045 shares of the company’s stock, valued at approximately $11,935,366.80. This represents a 8.84 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 362,544 shares of company stock valued at $35,717,201. Insiders own 21.75% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on ALTR shares. Needham & Company LLC reaffirmed a “hold” rating and set a $100.00 price objective on shares of Altair Engineering in a research note on Thursday, October 31st. Royal Bank of Canada increased their price objective on Altair Engineering from $90.00 to $113.00 and gave the stock a “sector perform” rating in a report on Thursday, October 31st. Loop Capital reissued a “hold” rating and set a $113.00 target price on shares of Altair Engineering in a research note on Thursday, October 31st. Rosenblatt Securities lifted their price target on shares of Altair Engineering from $88.00 to $113.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Finally, William Blair restated a “market perform” rating on shares of Altair Engineering in a report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Altair Engineering has an average rating of “Hold” and a consensus price target of $100.71.

Altair Engineering Stock Performance

ALTR stock opened at $104.37 on Thursday. The stock’s 50 day simple moving average is $98.49 and its 200 day simple moving average is $93.60. The company has a current ratio of 3.27, a quick ratio of 3.27 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $8.88 billion, a PE ratio of 274.67, a price-to-earnings-growth ratio of 11.93 and a beta of 1.44. Altair Engineering Inc. has a 12-month low of $68.87 and a 12-month high of $113.12.

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.