MML Investors Services LLC Boosts Stock Holdings in Altair Engineering Inc. (NASDAQ:ALTR)

MML Investors Services LLC increased its position in shares of Altair Engineering Inc. (NASDAQ:ALTR) by 12.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,007 shares of the software’s stock after buying an additional 665 shares during the period. MML Investors Services LLC’s holdings in Altair Engineering were worth $574,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Conestoga Capital Advisors LLC grew its position in shares of Altair Engineering by 1.4% during the 3rd quarter. Conestoga Capital Advisors LLC now owns 2,522,551 shares of the software’s stock valued at $240,929,000 after acquiring an additional 33,985 shares during the period. State Street Corp grew its holdings in Altair Engineering by 3.3% in the third quarter. State Street Corp now owns 2,053,957 shares of the software’s stock valued at $196,173,000 after purchasing an additional 65,589 shares during the period. William Blair Investment Management LLC purchased a new stake in shares of Altair Engineering in the second quarter valued at approximately $91,589,000. Bank of New York Mellon Corp raised its stake in shares of Altair Engineering by 121.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 569,109 shares of the software’s stock worth $55,818,000 after buying an additional 312,448 shares during the period. Finally, Candriam S.C.A. lifted its position in shares of Altair Engineering by 28.9% during the 2nd quarter. Candriam S.C.A. now owns 560,565 shares of the software’s stock valued at $54,978,000 after buying an additional 125,816 shares in the last quarter. Hedge funds and other institutional investors own 63.38% of the company’s stock.

Insider Buying and Selling

In other Altair Engineering news, CEO James Ralph Scapa sold 13,000 shares of Altair Engineering stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $95.10, for a total transaction of $1,236,300.00. Following the transaction, the chief executive officer now directly owns 134,045 shares of the company’s stock, valued at $12,747,679.50. The trade was a 8.84 % decrease in their ownership of the stock. 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 the stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $106.57, for a total transaction of $10,657,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 400,519 shares of company stock worth $40,076,873. 21.75% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Loop Capital reissued a “hold” rating and issued a $113.00 price target on shares of Altair Engineering in a report on Thursday, October 31st. Wolfe Research cut shares of Altair Engineering from a “strong-buy” rating to a “hold” rating in a research note on Sunday, November 3rd. Needham & Company LLC reaffirmed a “hold” rating and issued a $100.00 price target on shares of Altair Engineering in a research note on Thursday, October 31st. Royal Bank of Canada boosted their price objective 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. Finally, William Blair restated a “market perform” rating on shares of Altair Engineering in a research report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat, Altair Engineering presently has an average rating of “Hold” and a consensus price target of $100.71.

Altair Engineering Trading Up 1.2 %

Shares of Altair Engineering stock opened at $109.00 on Monday. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.27 and a quick ratio of 3.27. The stock’s 50 day simple moving average is $104.07 and its 200-day simple moving average is $96.29. The stock has a market cap of $9.27 billion, a P/E ratio of 286.85, a P/E/G ratio of 12.16 and a beta of 1.44. Altair Engineering Inc. has a 1-year low of $73.69 and a 1-year high of $113.12.

Altair Engineering Company 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.