PFW Advisors LLC Makes New Investment in Altair Engineering Inc. (NASDAQ:ALTR)

PFW Advisors LLC acquired a new position in shares of Altair Engineering Inc. (NASDAQ:ALTR) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 2,084 shares of the software’s stock, valued at approximately $227,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Blue Trust Inc. boosted its holdings 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 purchasing an additional 246 shares during the period. GAMMA Investing LLC boosted its stake in shares of Altair Engineering by 52.2% in the third 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 position in Altair Engineering by 28.5% during the third quarter. Van ECK Associates Corp now owns 1,358 shares of the software’s stock worth $130,000 after purchasing an additional 301 shares during the period. KBC Group NV grew its stake in Altair Engineering by 17.9% during the third quarter. KBC Group NV now owns 1,640 shares of the software’s stock worth $157,000 after buying an additional 249 shares in the last quarter. Finally, Deerfield Management Company L.P. Series C bought a new position in Altair Engineering in the 2nd quarter valued at about $207,000. Institutional investors and hedge funds own 63.38% of the company’s stock.

Insiders Place Their Bets

In related news, CEO James Ralph Scapa sold 13,000 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $102.59, for a total value of $1,333,670.00. Following the sale, the chief executive officer now directly owns 134,045 shares in the company, valued at $13,751,676.55. This represents a 8.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Jrs Investments Llc sold 6,500 shares of the stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $102.59, for a total transaction of $666,835.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 181,447 shares of company stock valued at $19,214,933. 21.75% of the stock is currently owned by company insiders.

Altair Engineering Trading Down 0.1 %

Shares of Altair Engineering stock traded down $0.10 on Monday, hitting $110.15. The stock had a trading volume of 661,377 shares, compared to its average volume of 744,882. The stock has a 50 day moving average of $106.55 and a 200 day moving average of $97.83. The firm has a market capitalization of $9.37 billion, a P/E ratio of 289.88, a PEG ratio of 12.16 and a beta of 1.42. Altair Engineering Inc. has a twelve month low of $75.71 and a twelve month high of $113.12. The company has a debt-to-equity ratio of 0.27, a quick ratio of 3.27 and a current ratio of 3.27.

Wall Street Analysts Forecast Growth

ALTR has been the topic of several analyst reports. Loop Capital reiterated a “hold” rating and set a $113.00 price target on shares of Altair Engineering in a research report on Thursday, October 31st. Wolfe Research lowered Altair Engineering from a “strong-buy” rating to a “hold” rating in a research note on Sunday, November 3rd. Rosenblatt Securities upped their price objective on Altair Engineering from $88.00 to $113.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Royal Bank of Canada lifted their target price 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, Needham & Company LLC restated a “hold” rating and issued a $100.00 price target on shares of Altair Engineering in a research note on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price 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.