MML Investors Services LLC Increases Stock Position in Altair Engineering Inc. (NASDAQ:ALTR)

MML Investors Services LLC lifted its stake in Altair Engineering Inc. (NASDAQ:ALTR) by 12.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 6,007 shares of the software’s stock after acquiring an additional 665 shares during the quarter. MML Investors Services LLC’s holdings in Altair Engineering were worth $574,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the stock. Blue Trust Inc. raised its position in Altair Engineering by 572.1% in the third quarter. Blue Trust Inc. now owns 289 shares of the software’s stock valued at $28,000 after purchasing an additional 246 shares during the period. GAMMA Investing LLC raised its holdings in shares of Altair Engineering by 52.2% in the 3rd quarter. GAMMA Investing LLC now owns 636 shares of the software’s stock valued at $61,000 after buying an additional 218 shares during the period. Van ECK Associates Corp lifted its stake 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. KBC Group NV lifted its stake in Altair Engineering by 17.9% during the 3rd quarter. KBC Group NV now owns 1,640 shares of the software’s stock worth $157,000 after acquiring an additional 249 shares in the last quarter. Finally, Ballentine Partners LLC purchased a new position in Altair Engineering during the 2nd quarter valued at about $202,000. 63.38% of the stock is currently owned by institutional investors and hedge funds.

Altair Engineering Stock Up 1.2 %

ALTR opened at $109.00 on Monday. The firm has a market cap of $9.27 billion, a P/E ratio of 286.85, a PEG ratio of 12.16 and a beta of 1.44. The company has a quick ratio of 3.27, a current ratio of 3.27 and a debt-to-equity ratio of 0.27. The business’s fifty day simple moving average is $104.07 and its 200 day simple moving average is $96.29. Altair Engineering Inc. has a 52 week low of $73.69 and a 52 week high of $113.12.

Insider Activity at Altair Engineering

In other Altair Engineering news, CEO James Ralph Scapa sold 13,000 shares of the stock in a transaction on Monday, September 30th. The stock was sold at an average price of $95.10, for a total transaction of $1,236,300.00. Following the transaction, the chief executive officer now owns 134,045 shares of the company’s stock, valued at $12,747,679.50. This represents a 8.84 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder Christ Revocable Trust sold 50,048 shares of Altair Engineering stock in a transaction on Friday, September 27th. The shares were sold at an average price of $95.07, for a total value of $4,758,063.36. Following the completion of the sale, the insider now directly owns 149,952 shares of the company’s stock, valued at approximately $14,255,936.64. This represents a 25.02 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 400,519 shares of company stock valued at $40,076,873. Company insiders own 21.75% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Wolfe Research cut shares of Altair Engineering from a “strong-buy” rating to a “hold” rating in a research report on Sunday, November 3rd. Needham & Company LLC reiterated a “hold” rating and set a $100.00 target price on shares of Altair Engineering in a report on Thursday, October 31st. Rosenblatt Securities boosted their price target 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. Loop Capital reiterated a “hold” rating and issued a $113.00 price objective on shares of Altair Engineering in a research note on Thursday, October 31st. Finally, Royal Bank of Canada lifted their price objective on shares of Altair Engineering from $90.00 to $113.00 and gave the company a “sector perform” rating in a research report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $100.71.

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.