Retirement Systems of Alabama Has $6.90 Million Position in Altair Engineering Inc. (NASDAQ:ALTR)

Retirement Systems of Alabama boosted its holdings in shares of Altair Engineering Inc. (NASDAQ:ALTR) by 2.7% in the third quarter, according to its most recent filing with the SEC. The firm owned 72,191 shares of the software’s stock after acquiring an additional 1,904 shares during the period. Retirement Systems of Alabama owned 0.08% of Altair Engineering worth $6,895,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the stock. GAMMA Investing LLC boosted its holdings in Altair Engineering by 52.2% during the third quarter. GAMMA Investing LLC now owns 636 shares of the software’s stock worth $61,000 after buying an additional 218 shares during the last quarter. Moody Aldrich Partners LLC raised its stake in Altair Engineering by 15.2% during the 3rd quarter. Moody Aldrich Partners LLC now owns 75,233 shares of the software’s stock worth $7,186,000 after buying an additional 9,907 shares during the period. Fisher Asset Management LLC raised its stake in Altair Engineering by 27.0% during the 3rd quarter. Fisher Asset Management LLC now owns 401,612 shares of the software’s stock worth $38,358,000 after buying an additional 85,303 shares during the period. Envestnet Asset Management Inc. lifted its holdings in Altair Engineering by 8.9% during the second quarter. Envestnet Asset Management Inc. now owns 85,065 shares of the software’s stock worth $8,343,000 after acquiring an additional 6,956 shares in the last quarter. Finally, Amalgamated Bank raised its position in shares of Altair Engineering by 1,378.0% during the second quarter. Amalgamated Bank now owns 27,594 shares of the software’s stock worth $2,706,000 after purchasing an additional 25,727 shares during the period. 63.38% of the stock is owned by institutional investors and hedge funds.

Altair Engineering Price Performance

Shares of NASDAQ ALTR opened at $106.85 on Wednesday. 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 business’s 50 day moving average price is $103.32 and its two-hundred day moving average price is $95.92. The company has a market cap of $9.09 billion, a PE ratio of 281.18, a price-to-earnings-growth ratio of 12.16 and a beta of 1.44. Altair Engineering Inc. has a twelve month low of $73.33 and a twelve month high of $113.12.

Insider Activity at Altair Engineering

In other Altair Engineering news, major shareholder Christ Revocable Trust sold 50,048 shares of Altair Engineering stock in a transaction on Friday, September 27th. The stock was sold at an average price of $95.07, for a total value of $4,758,063.36. Following the completion of the transaction, the insider now directly owns 149,952 shares of the company’s stock, valued at $14,255,936.64. The trade was a 25.02 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Teresa A. Harris sold 620 shares of the stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $95.12, for a total transaction of $58,974.40. Following the sale, the director now owns 21,242 shares in the company, valued at $2,020,539.04. The trade was a 2.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 400,519 shares of company stock worth $40,076,873. Company insiders own 21.75% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on ALTR shares. Loop Capital reiterated a “hold” rating and issued a $113.00 price objective on shares of Altair Engineering in a research report on Thursday, October 31st. Wolfe Research lowered shares of Altair Engineering from a “strong-buy” rating to a “hold” rating in a report on Sunday, November 3rd. Rosenblatt Securities boosted their price objective on shares of Altair Engineering from $88.00 to $113.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. William Blair reissued a “market perform” rating on shares of Altair Engineering in a research note on Thursday, October 31st. Finally, Needham & Company LLC reaffirmed a “hold” rating and set a $100.00 price objective on shares of Altair Engineering in a research report on Thursday, October 31st. One equities research 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. According to data from MarketBeat.com, the company 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.