Mutual of America Capital Management LLC Sells 793 Shares of Altair Engineering Inc. (NASDAQ:ALTR)

Mutual of America Capital Management LLC lowered its stake in shares of Altair Engineering Inc. (NASDAQ:ALTR) by 1.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 64,588 shares of the software’s stock after selling 793 shares during the period. Mutual of America Capital Management LLC owned approximately 0.08% of Altair Engineering worth $6,169,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in ALTR. Blue Trust Inc. raised its stake in Altair Engineering by 572.1% during the 3rd quarter. Blue Trust Inc. now owns 289 shares of the software’s stock worth $28,000 after buying an additional 246 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Altair Engineering by 81.7% in the 2nd quarter. GAMMA Investing LLC now owns 418 shares of the software’s stock worth $41,000 after purchasing an additional 188 shares in the last quarter. FSC Wealth Advisors LLC lifted its holdings in shares of Altair Engineering by 41.3% in 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 in the last quarter. Van ECK Associates Corp grew its position in Altair Engineering by 41.7% in 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, KBC Group NV increased its stake in Altair Engineering by 17.9% during the 3rd quarter. KBC Group NV now owns 1,640 shares of the software’s stock valued at $157,000 after purchasing an additional 249 shares in the last quarter. Institutional investors own 63.38% of the company’s stock.

Insider Buying and Selling at Altair Engineering

In related news, CEO James Ralph Scapa sold 13,000 shares of the business’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $89.04, for a total value of $1,157,520.00. Following the transaction, the chief executive officer now directly owns 134,045 shares of the company’s stock, valued at approximately $11,935,366.80. The trade was a 8.84 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Ravi Kunju sold 360 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $103.65, for a total transaction of $37,314.00. Following the sale, the insider now owns 30,305 shares of the company’s stock, valued at $3,141,113.25. This trade represents a 1.17 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 362,544 shares of company stock worth $35,717,201 in the last quarter. 21.75% of the stock is currently owned by company insiders.

Altair Engineering Stock Performance

ALTR stock opened at $104.25 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 firm has a market cap of $8.87 billion, a PE ratio of 274.35, a P/E/G ratio of 11.93 and a beta of 1.44. The business has a 50 day moving average of $98.11 and a 200-day moving average of $93.52. Altair Engineering Inc. has a 12-month low of $68.87 and a 12-month high of $113.12.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ALTR. Needham & Company LLC reiterated a “hold” rating and set a $100.00 price objective on shares of Altair Engineering in a report on Thursday, October 31st. Royal Bank of Canada lifted their price target on Altair Engineering from $90.00 to $113.00 and gave the company a “sector perform” rating in a research note 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 lowered Altair Engineering from a “neutral” rating to a “sell” rating and dropped their target price for the company from $85.00 to $71.00 in a report on Friday, August 2nd. Finally, Wolfe Research downgraded Altair Engineering from a “strong-buy” rating to a “hold” rating in a report on Sunday, November 3rd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, Altair Engineering has an average rating of “Hold” and an average target price of $100.71.

Altair Engineering Profile

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.