Daiwa Securities Group Inc. Grows Stock Holdings in Altair Engineering Inc. (NASDAQ:ALTR)

Daiwa Securities Group Inc. lifted its position in shares of Altair Engineering Inc. (NASDAQ:ALTR) by 44.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 24,500 shares of the software’s stock after purchasing an additional 7,500 shares during the period. Daiwa Securities Group Inc.’s holdings in Altair Engineering were worth $2,340,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Blue Trust Inc. lifted 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 acquiring an additional 246 shares during the last quarter. GAMMA Investing LLC lifted its position in Altair Engineering by 81.7% in the second quarter. GAMMA Investing LLC now owns 418 shares of the software’s stock valued at $41,000 after acquiring an additional 188 shares during the last quarter. FSC Wealth Advisors LLC lifted its position in Altair Engineering by 41.3% in the second quarter. FSC Wealth Advisors LLC now owns 832 shares of the software’s stock valued at $82,000 after acquiring an additional 243 shares during the last quarter. Van ECK Associates Corp lifted its position 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 acquiring an additional 311 shares during the last quarter. Finally, KBC Group NV lifted its position 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 acquiring an additional 249 shares during the last quarter. 63.38% of the stock is owned by hedge funds and other institutional investors.

Altair Engineering Trading Up 0.0 %

Shares of Altair Engineering stock opened at $105.42 on Friday. Altair Engineering Inc. has a 52-week low of $70.07 and a 52-week high of $113.12. 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 company’s 50-day simple moving average is $100.06 and its 200-day simple moving average is $94.30. The firm has a market cap of $8.97 billion, a price-to-earnings ratio of 277.43, a price-to-earnings-growth ratio of 12.17 and a beta of 1.44.

Insider Transactions at Altair Engineering

In other Altair Engineering news, Director Teresa A. Harris sold 620 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $89.70, for a total transaction of $55,614.00. Following the transaction, the director now directly owns 21,242 shares in the company, valued at approximately $1,905,407.40. This represents a 2.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Ravi Kunju sold 360 shares of the company’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $103.65, for a total transaction of $37,314.00. Following the transaction, the insider now owns 30,305 shares in the company, valued at $3,141,113.25. The trade was a 1.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 343,044 shares of company stock worth $33,980,921 over the last ninety days. 21.75% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

ALTR has been the subject of a number of research reports. Wolfe Research cut shares of Altair Engineering from a “strong-buy” rating to a “hold” rating in a report on Sunday, November 3rd. Royal Bank of Canada upped their target price on shares of Altair Engineering from $90.00 to $113.00 and gave the company a “sector perform” rating in a report on Thursday, October 31st. The Goldman Sachs Group cut shares of Altair Engineering from a “neutral” rating to a “sell” rating and reduced their target price for the company from $85.00 to $71.00 in a report on Friday, August 2nd. Rosenblatt Securities upped their target price 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 reaffirmed a “market perform” rating on shares of Altair Engineering in a report on Thursday, October 31st. One analyst has rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus 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.