ABC Arbitrage SA Invests $3.42 Million in Altair Engineering Inc. (NASDAQ:ALTR)

ABC Arbitrage SA purchased a new position in shares of Altair Engineering Inc. (NASDAQ:ALTR) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 31,358 shares of the software’s stock, valued at approximately $3,421,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. UMB Bank n.a. lifted its position in Altair Engineering by 77.0% in the 4th quarter. UMB Bank n.a. now owns 285 shares of the software’s stock valued at $31,000 after acquiring an additional 124 shares in the last quarter. Blue Trust Inc. lifted its position in Altair Engineering by 572.1% in the 3rd quarter. Blue Trust Inc. now owns 289 shares of the software’s stock valued at $28,000 after acquiring an additional 246 shares in the last quarter. GAMMA Investing LLC lifted its position in Altair Engineering by 14.6% in the 4th quarter. GAMMA Investing LLC now owns 729 shares of the software’s stock valued at $80,000 after acquiring an additional 93 shares in the last quarter. Van ECK Associates Corp lifted its position in Altair Engineering by 28.5% in the 3rd quarter. Van ECK Associates Corp now owns 1,358 shares of the software’s stock valued at $130,000 after acquiring an additional 301 shares in the last quarter. Finally, KBC Group NV lifted its position in Altair Engineering by 17.9% in the 3rd quarter. KBC Group NV now owns 1,640 shares of the software’s stock valued at $157,000 after acquiring an additional 249 shares in the last quarter. 63.38% of the stock is owned by institutional investors.

Altair Engineering Stock Up 0.1 %

Altair Engineering stock opened at $110.85 on Friday. The firm has a market capitalization of $9.43 billion, a PE ratio of 291.72, a P/E/G ratio of 10.62 and a beta of 1.42. The company’s 50-day moving average is $109.39 and its 200-day moving average is $100.49. Altair Engineering Inc. has a fifty-two week low of $75.71 and a fifty-two week high of $113.12. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.27 and a quick ratio of 3.27.

Analysts Set New Price Targets

Several equities research analysts have issued reports on ALTR shares. 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 research note on Thursday, October 31st. Wolfe Research lowered shares of Altair Engineering from a “strong-buy” rating to a “hold” rating in a research note on Sunday, November 3rd. William Blair reiterated a “market perform” rating on shares of Altair Engineering in a research note on Thursday, October 31st. Needham & Company LLC reiterated a “hold” rating and issued a $100.00 price target on shares of Altair Engineering in a research note on Thursday, October 31st. Finally, Loop Capital reiterated a “hold” rating and issued a $113.00 price target on shares of Altair Engineering in a research note 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’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $100.71.

Insider Transactions at Altair Engineering

In related news, CFO Matthew Charles Brown sold 1,048 shares of the company’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $108.90, for a total value of $114,127.20. Following the transaction, the chief financial officer now owns 55,519 shares in the company, valued at approximately $6,046,019.10. This represents a 1.85 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Jrs Investments Llc sold 6,500 shares of the company’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $105.69, for a total transaction of $686,985.00. The disclosure for this sale can be found here. Insiders have sold 59,143 shares of company stock worth $6,265,694 in the last ninety days. Insiders own 21.75% of the company’s stock.

Altair Engineering Company 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.