Bamco Inc. NY Sells 126,163 Shares of Altair Engineering Inc. (NASDAQ:ALTR)

Bamco Inc. NY trimmed its position in shares of Altair Engineering Inc. (NASDAQ:ALTR) by 9.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,259,344 shares of the software’s stock after selling 126,163 shares during the quarter. Bamco Inc. NY owned approximately 1.48% of Altair Engineering worth $120,280,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of ALTR. Verition Fund Management LLC acquired a new position in shares of Altair Engineering in the 3rd quarter worth approximately $313,000. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Altair Engineering in the 3rd quarter valued at $1,356,000. Glenmede Trust Co. NA boosted its stake in Altair Engineering by 11.1% in the third quarter. Glenmede Trust Co. NA now owns 23,343 shares of the software’s stock worth $2,229,000 after purchasing an additional 2,334 shares in the last quarter. Mirabella Financial Services LLP grew its holdings in shares of Altair Engineering by 560.7% during the third quarter. Mirabella Financial Services LLP now owns 37,262 shares of the software’s stock worth $3,420,000 after purchasing an additional 31,622 shares during the last quarter. Finally, Fisher Asset Management LLC increased its stake in shares of Altair Engineering by 27.0% in the third quarter. Fisher Asset Management LLC now owns 401,612 shares of the software’s stock valued at $38,358,000 after buying an additional 85,303 shares in the last quarter. Institutional investors and hedge funds own 63.38% of the company’s stock.

Insider Activity at Altair Engineering

In other news, Director Teresa A. Harris sold 620 shares of Altair Engineering stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $104.10, for a total transaction of $64,542.00. Following the transaction, the director now directly owns 21,242 shares of the company’s stock, valued at $2,211,292.20. This trade represents a 2.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Christ Revocable Trust sold 100,000 shares of the company’s stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $106.57, for a total transaction of $10,657,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 343,044 shares of company stock worth $33,980,921. 21.75% of the stock is owned by insiders.

Altair Engineering Stock Performance

ALTR stock opened at $105.61 on Monday. Altair Engineering Inc. has a twelve month low of $70.07 and a twelve month 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 has a market cap of $8.99 billion, a P/E ratio of 277.93, a price-to-earnings-growth ratio of 12.14 and a beta of 1.44. The business’s fifty day moving average is $100.49 and its 200-day moving average is $94.57.

Analyst Upgrades and Downgrades

ALTR has been the topic of a number of research analyst reports. Rosenblatt Securities increased their price objective on shares of Altair Engineering from $88.00 to $113.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Needham & Company LLC reissued a “hold” rating and issued a $100.00 price target on shares of Altair Engineering in a report on Thursday, October 31st. Loop Capital reissued a “hold” rating and issued a $113.00 price target on shares of Altair Engineering in a report on Thursday, October 31st. Royal Bank of Canada increased their price objective on Altair Engineering from $90.00 to $113.00 and gave the company a “sector perform” rating in a research report on Thursday, October 31st. Finally, Wolfe Research downgraded Altair Engineering from a “strong-buy” rating to a “hold” rating in a research report on Sunday, November 3rd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $100.71.

About Altair Engineering

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.