Altair Engineering Inc (NASDAQ:ALTR) was up 6.2% during trading on Thursday . The company traded as high as $32.04 and last traded at $32.02, approximately 491,300 shares were traded during trading. An increase of 35% from the average daily volume of 363,745 shares. The stock had previously closed at $30.15.
A number of research analysts have commented on ALTR shares. Goldman Sachs Group initiated coverage on shares of Altair Engineering in a research report on Tuesday, November 12th. They set a “neutral” rating and a $34.00 price target on the stock. William Blair cut shares of Altair Engineering from an “outperform” rating to a “market perform” rating in a report on Friday, November 8th. JPMorgan Chase & Co. cut their target price on shares of Altair Engineering from $34.00 to $30.00 and set an “underweight” rating on the stock in a report on Friday, November 8th. Needham & Company LLC restated a “buy” rating and issued a $38.00 target price on shares of Altair Engineering in a report on Friday, November 8th. Finally, Deutsche Bank cut shares of Altair Engineering from a “buy” rating to a “hold” rating and set a $36.00 target price on the stock. in a report on Friday, August 9th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $36.95.
The company has a quick ratio of 2.52, a current ratio of 2.52 and a debt-to-equity ratio of 0.57. The stock has a market cap of $2.07 billion, a P/E ratio of 86.54 and a beta of 1.50. The firm’s fifty day moving average price is $33.70 and its 200-day moving average price is $36.34.
In other Altair Engineering news, CEO James Ralph Scapa sold 90,000 shares of the firm’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $33.54, for a total transaction of $3,018,600.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Uwe Schramm sold 8,000 shares of the firm’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $30.00, for a total value of $240,000.00. In the last quarter, insiders sold 355,215 shares of company stock worth $12,005,749. 29.27% of the stock is currently owned by company insiders.
A number of institutional investors have recently made changes to their positions in the business. Captrust Financial Advisors purchased a new position in shares of Altair Engineering in the 2nd quarter worth about $39,000. Advisor Group Inc. raised its position in shares of Altair Engineering by 63.7% in the 2nd quarter. Advisor Group Inc. now owns 1,020 shares of the software’s stock worth $41,000 after purchasing an additional 397 shares during the last quarter. Tower Research Capital LLC TRC raised its position in shares of Altair Engineering by 116.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,751 shares of the software’s stock worth $71,000 after purchasing an additional 942 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Altair Engineering in the 2nd quarter worth about $73,000. Finally, US Bancorp DE raised its position in shares of Altair Engineering by 83.5% in the 2nd quarter. US Bancorp DE now owns 2,299 shares of the software’s stock worth $93,000 after purchasing an additional 1,046 shares during the last quarter. 67.92% of the stock is owned by institutional investors and hedge funds.
About Altair Engineering (NASDAQ:ALTR)
Altair Engineering Inc, together with its subsidiaries, provides software and cloud solutions worldwide. The company operates through two segments, Software and Client Engineering Services. Its integrated suite of multi-disciplinary computer aided engineering software optimizes design performance across various disciplines, including structures, motion, fluids, thermal management, electromagnetics, system modeling and embedded systems.
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