NumerixS Investment Technologies Inc bought a new stake in Altair Engineering Inc (NASDAQ:ALTR) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 2,900 shares of the software’s stock, valued at approximately $78,000.
A number of other institutional investors also recently bought and sold shares of the stock. Legal & General Group Plc boosted its position in Altair Engineering by 22.9% in the 3rd quarter. Legal & General Group Plc now owns 4,562 shares of the software’s stock valued at $198,000 after buying an additional 850 shares during the period. Rhumbline Advisers boosted its position in Altair Engineering by 8.4% in the 3rd quarter. Rhumbline Advisers now owns 25,688 shares of the software’s stock valued at $1,116,000 after buying an additional 1,982 shares during the period. Quantbot Technologies LP boosted its position in Altair Engineering by 39.4% in the 3rd quarter. Quantbot Technologies LP now owns 9,811 shares of the software’s stock valued at $426,000 after buying an additional 2,775 shares during the period. American International Group Inc. boosted its position in Altair Engineering by 23.5% in the 3rd quarter. American International Group Inc. now owns 20,070 shares of the software’s stock valued at $872,000 after buying an additional 3,819 shares during the period. Finally, Invictus RG purchased a new position in Altair Engineering in the 3rd quarter valued at approximately $293,000. Hedge funds and other institutional investors own 38.17% of the company’s stock.
In other news, Director Jan Kowal sold 8,000 shares of Altair Engineering stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $37.62, for a total transaction of $300,960.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Brett R. Chouinard sold 4,000 shares of Altair Engineering stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $35.61, for a total transaction of $142,440.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 17,000 shares of company stock valued at $621,350. Corporate insiders own 38.24% of the company’s stock.
Several equities analysts have commented on ALTR shares. ValuEngine cut shares of Altair Engineering from a “buy” rating to a “hold” rating in a research report on Tuesday, November 20th. Zacks Investment Research raised shares of Altair Engineering from a “hold” rating to a “buy” rating and set a $33.00 price target for the company in a research report on Wednesday, November 21st. Finally, Needham & Company LLC reissued a “buy” rating and issued a $40.00 price target on shares of Altair Engineering in a research report on Friday, March 1st. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $38.57.
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About Altair Engineering
Altair Engineering Inc, together with its subsidiaries, provides software and cloud solutions worldwide. The company operates through two segments, Software and Client Engineering Services. Its integrated suite of multi-disciplinary computer aided engineering software optimizes design performance across various disciplines, including structures, motion, fluids, thermal management, electromagnetics, system modeling and embedded systems.
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