Altair Engineering Inc. (NASDAQ:ALTR) Position Lowered by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. reduced its position in Altair Engineering Inc. (NASDAQ:ALTR) by 74.7% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 23,282 shares of the software’s stock after selling 68,759 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Altair Engineering were worth $2,224,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Blue Trust Inc. raised its position in shares of Altair Engineering by 572.1% during the 3rd quarter. Blue Trust Inc. now owns 289 shares of the software’s stock valued at $28,000 after acquiring an additional 246 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Altair Engineering by 81.7% during 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% in the 2nd quarter. FSC Wealth Advisors LLC now owns 832 shares of the software’s stock worth $82,000 after buying an additional 243 shares during the last quarter. Van ECK Associates Corp boosted its holdings in shares of 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 buying an additional 311 shares during the period. Finally, KBC Group NV grew its position in shares of 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 buying an additional 249 shares during the last quarter. Institutional investors and hedge funds own 63.38% of the company’s stock.

Insider Buying and Selling at Altair Engineering

In other news, major shareholder Jrs Investments Llc sold 6,500 shares of the company’s stock in a transaction 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Christ Revocable Trust sold 100,000 shares of Altair Engineering stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $106.57, for a total value of $10,657,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 362,544 shares of company stock valued at $35,717,201. Company insiders own 21.75% of the company’s stock.

Altair Engineering Price Performance

Shares of NASDAQ ALTR opened at $105.87 on Tuesday. The stock has a market cap of $9.01 billion, a P/E ratio of 278.61, a P/E/G ratio of 12.09 and a beta of 1.44. The firm’s 50-day simple moving average is $99.54 and its 200 day simple moving average is $94.09. Altair Engineering Inc. has a fifty-two week low of $70.07 and a fifty-two week high of $113.12. The company has a quick ratio of 3.27, a current ratio of 3.27 and a debt-to-equity ratio of 0.27.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. The Goldman Sachs Group downgraded Altair Engineering from a “neutral” rating to a “sell” rating and decreased their target price for the company from $85.00 to $71.00 in a research note on Friday, August 2nd. Rosenblatt Securities upped their price objective on Altair Engineering from $88.00 to $113.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Royal Bank of Canada increased their target price on Altair Engineering from $90.00 to $113.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 31st. Loop Capital restated a “hold” rating and set a $113.00 price target on shares of Altair Engineering in a research report on Thursday, October 31st. Finally, Wolfe Research cut shares of Altair Engineering from a “strong-buy” rating to a “hold” rating in a report on Sunday, November 3rd. One 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, the company currently 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.