Victory Capital Management Inc. Has $37.07 Million Stake in Altair Engineering Inc. (NASDAQ:ALTR)

Victory Capital Management Inc. grew its stake in Altair Engineering Inc. (NASDAQ:ALTR) by 25.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 388,089 shares of the software’s stock after buying an additional 78,048 shares during the period. Victory Capital Management Inc. owned approximately 0.46% of Altair Engineering worth $37,066,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Blue Trust Inc. raised its holdings in Altair Engineering by 572.1% in the 3rd quarter. Blue Trust Inc. now owns 289 shares of the software’s stock worth $28,000 after acquiring an additional 246 shares during the period. GAMMA Investing LLC increased its stake in shares of Altair Engineering by 81.7% in the second quarter. GAMMA Investing LLC now owns 418 shares of the software’s stock worth $41,000 after purchasing an additional 188 shares during the period. FSC Wealth Advisors LLC lifted its position in shares of Altair Engineering by 41.3% during the 2nd quarter. FSC Wealth Advisors LLC now owns 832 shares of the software’s stock worth $82,000 after purchasing an additional 243 shares during the last quarter. Van ECK Associates Corp boosted its stake in Altair Engineering by 41.7% during the 2nd quarter. Van ECK Associates Corp now owns 1,057 shares of the software’s stock valued at $104,000 after purchasing an additional 311 shares during the period. Finally, SG Americas Securities LLC acquired a new stake in Altair Engineering in the 1st quarter valued at approximately $177,000. Institutional investors own 63.38% of the company’s stock.

Altair Engineering Stock Up 0.0 %

NASDAQ ALTR opened at $103.75 on Friday. Altair Engineering Inc. has a 1-year low of $68.87 and a 1-year high of $113.12. The company has a current ratio of 3.27, a quick ratio of 3.27 and a debt-to-equity ratio of 0.27. The stock’s 50 day moving average is $97.40 and its two-hundred day moving average is $93.13. The company has a market capitalization of $8.83 billion, a price-to-earnings ratio of 273.03, a PEG ratio of 11.93 and a beta of 1.44.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Loop Capital reissued a “hold” rating and issued a $113.00 price objective on shares of Altair Engineering in a research report on Thursday, October 31st. William Blair reissued a “market perform” rating on shares of Altair Engineering in a report on Thursday, October 31st. The Goldman Sachs Group downgraded shares of Altair Engineering from a “neutral” rating to a “sell” rating and dropped their price objective for the stock from $85.00 to $71.00 in a report on Friday, August 2nd. Needham & Company LLC reiterated a “hold” rating and issued a $100.00 target price on shares of Altair Engineering in a research note on Thursday, October 31st. Finally, Rosenblatt Securities boosted their price target on Altair Engineering from $88.00 to $113.00 and gave the company a “neutral” rating 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 issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $100.71.

Insider Buying and Selling at Altair Engineering

In other news, major shareholder Jrs Investments Llc sold 6,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $89.04, for a total value of $578,760.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder Christ Revocable Trust sold 50,048 shares of the stock in a transaction that occurred 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 sale, the insider now owns 149,952 shares in the company, valued at approximately $14,255,936.64. This trade represents a 25.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 362,544 shares of company stock worth $35,717,201 over the last three months. Company insiders own 21.75% of the company’s stock.

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.