Healthcare of Ontario Pension Plan Trust Fund Makes New $1.36 Million Investment in Altair Engineering Inc. (NASDAQ:ALTR)

Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Altair Engineering Inc. (NASDAQ:ALTR) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 14,200 shares of the software’s stock, valued at approximately $1,356,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. GAMMA Investing LLC increased its position 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 purchasing an additional 218 shares during the last quarter. Moody Aldrich Partners LLC grew its stake in shares of Altair Engineering by 15.2% during the 3rd quarter. Moody Aldrich Partners LLC now owns 75,233 shares of the software’s stock valued at $7,186,000 after buying an additional 9,907 shares during the period. Linden Thomas Advisory Services LLC acquired a new stake in shares of Altair Engineering during the 2nd quarter worth $629,000. Fisher Asset Management LLC raised its position in shares of Altair Engineering by 27.0% in 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. Finally, Envestnet Asset Management Inc. boosted its holdings in Altair Engineering by 8.9% in the second quarter. Envestnet Asset Management Inc. now owns 85,065 shares of the software’s stock valued at $8,343,000 after acquiring an additional 6,956 shares during the last quarter. Institutional investors and hedge funds own 63.38% of the company’s stock.

Altair Engineering Price Performance

Shares of ALTR stock opened at $105.61 on Monday. The firm has a fifty day simple moving average of $100.49 and a 200-day simple moving average of $94.57. The company has a market capitalization of $8.99 billion, a PE ratio of 277.93, a price-to-earnings-growth ratio of 12.14 and a beta of 1.44. Altair Engineering Inc. has a twelve month low of $70.07 and a twelve month 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.

Insider Buying and Selling at Altair Engineering

In other news, 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 transaction of $4,758,063.36. Following the completion of the transaction, the insider now directly owns 149,952 shares in the company, valued at approximately $14,255,936.64. This represents a 25.02 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Jrs Investments Llc sold 6,500 shares of the firm’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $95.10, for a total transaction of $618,150.00. The disclosure for this sale can be found here. Insiders sold a total of 343,044 shares of company stock valued at $33,980,921 in the last ninety days. Insiders own 21.75% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on ALTR. Royal Bank of Canada upped their price target on Altair Engineering from $90.00 to $113.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 31st. Rosenblatt Securities raised their price target on shares of Altair Engineering from $88.00 to $113.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. William Blair reiterated a “market perform” rating on shares of Altair Engineering in a research note on Thursday, October 31st. Needham & Company LLC reissued a “hold” rating and issued a $100.00 price objective on shares of Altair Engineering in a research report on Thursday, October 31st. Finally, Loop Capital restated a “hold” rating and set a $113.00 target price on shares of Altair Engineering in a report on Thursday, October 31st. One 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’s stock. According to data from MarketBeat.com, the stock 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.