Bain Capital Public Equity Management II LLC purchased a new stake in shares of Altair Engineering Inc. (NASDAQ:ALTR – Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 155,792 shares of the software’s stock, valued at approximately $11,234,000. Altair Engineering accounts for about 0.6% of Bain Capital Public Equity Management II LLC’s holdings, making the stock its 23rd biggest holding. Bain Capital Public Equity Management II LLC owned 0.19% of Altair Engineering as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Matrix Capital Management Company LP lifted its holdings in shares of Altair Engineering by 2.8% during the 1st quarter. Matrix Capital Management Company LP now owns 11,174,200 shares of the software’s stock valued at $805,772,000 after buying an additional 303,200 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Altair Engineering by 1.5% during the 3rd quarter. Vanguard Group Inc. now owns 4,883,495 shares of the software’s stock valued at $215,947,000 after buying an additional 73,603 shares during the period. BlackRock Inc. lifted its holdings in shares of Altair Engineering by 7.5% during the 1st quarter. BlackRock Inc. now owns 4,879,144 shares of the software’s stock valued at $314,217,000 after buying an additional 339,610 shares during the period. Pictet Asset Management SA lifted its holdings in shares of Altair Engineering by 3.4% during the 1st quarter. Pictet Asset Management SA now owns 3,683,768 shares of the software’s stock valued at $265,637,000 after buying an additional 120,957 shares during the period. Finally, Conestoga Capital Advisors LLC lifted its holdings in shares of Altair Engineering by 1.2% during the 1st quarter. Conestoga Capital Advisors LLC now owns 2,370,624 shares of the software’s stock valued at $170,946,000 after buying an additional 28,867 shares during the period. 63.38% of the stock is owned by institutional investors.
Altair Engineering Trading Up 1.4 %
Shares of ALTR stock opened at $66.41 on Tuesday. Altair Engineering Inc. has a 52-week low of $43.17 and a 52-week high of $78.49. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.84 and a current ratio of 1.84. The firm has a market capitalization of $5.40 billion, a PE ratio of -114.50, a PEG ratio of 20.23 and a beta of 1.46. The stock has a fifty day simple moving average of $68.39 and a two-hundred day simple moving average of $69.70.
Insider Activity
In other news, CEO James Ralph Scapa sold 10,000 shares of the firm’s stock in a transaction dated Friday, June 16th. The stock was sold at an average price of $75.18, for a total transaction of $751,800.00. Following the completion of the transaction, the chief executive officer now owns 103,591 shares in the company, valued at $7,787,971.38. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, major shareholder George J. Christ sold 100,000 shares of the stock in a transaction dated Wednesday, July 19th. The shares were sold at an average price of $74.42, for a total value of $7,442,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO James Ralph Scapa sold 10,000 shares of the stock in a transaction dated Friday, June 16th. The shares were sold at an average price of $75.18, for a total transaction of $751,800.00. Following the completion of the transaction, the chief executive officer now directly owns 103,591 shares of the company’s stock, valued at approximately $7,787,971.38. The disclosure for this sale can be found here. Insiders sold a total of 145,000 shares of company stock worth $10,630,400 over the last 90 days. Corporate insiders own 22.17% of the company’s stock.
Analyst Upgrades and Downgrades
ALTR has been the topic of a number of recent research reports. Royal Bank of Canada raised their target price on Altair Engineering from $71.00 to $74.00 and gave the stock a “sector perform” rating in a report on Friday, August 4th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $74.00 target price on shares of Altair Engineering in a report on Tuesday, August 29th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $77.00 target price on shares of Altair Engineering in a report on Friday, August 4th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Altair Engineering currently has an average rating of “Moderate Buy” and a consensus price target of $73.00.
View Our Latest Stock Report on Altair Engineering
Altair Engineering Profile
Altair Engineering Inc, together with its subsidiaries, provides software and cloud solutions in the areas of simulation, high-performance computing, data analytics, and artificial intelligence in the United States and internationally. The company operates in two segments: Software and Client Engineering Services.
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