Mirabella Financial Services LLP Purchases 31,622 Shares of Altair Engineering Inc. (NASDAQ:ALTR)

Mirabella Financial Services LLP lifted its position in shares of Altair Engineering Inc. (NASDAQ:ALTR) by 560.7% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 37,262 shares of the software’s stock after buying an additional 31,622 shares during the quarter. Mirabella Financial Services LLP’s holdings in Altair Engineering were worth $3,420,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of ALTR. Jane Street Group LLC boosted its stake in shares of Altair Engineering by 960.2% in the first quarter. Jane Street Group LLC now owns 303,672 shares of the software’s stock worth $26,161,000 after acquiring an additional 275,030 shares during the period. Comerica Bank grew its holdings in Altair Engineering by 0.9% during the 1st quarter. Comerica Bank now owns 178,601 shares of the software’s stock valued at $15,386,000 after buying an additional 1,594 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Altair Engineering by 81.7% in the second quarter. GAMMA Investing LLC now owns 418 shares of the software’s stock worth $41,000 after buying an additional 188 shares in the last quarter. Harbor Capital Advisors Inc. boosted its position in shares of Altair Engineering by 9.2% during the second quarter. Harbor Capital Advisors Inc. now owns 9,738 shares of the software’s stock worth $955,000 after acquiring an additional 817 shares during the last quarter. Finally, CWM LLC grew its stake in Altair Engineering by 169.4% during the second quarter. CWM LLC now owns 11,536 shares of the software’s stock valued at $1,131,000 after acquiring an additional 7,254 shares in the last quarter. Institutional investors own 63.38% of the company’s stock.

Altair Engineering Stock Performance

Shares of NASDAQ:ALTR opened at $105.25 on Monday. The company has a current ratio of 3.27, a quick ratio of 3.27 and a debt-to-equity ratio of 0.27. Altair Engineering Inc. has a 12 month low of $70.07 and a 12 month high of $113.12. The company has a market capitalization of $8.95 billion, a price-to-earnings ratio of 276.85, a PEG ratio of 12.09 and a beta of 1.44. The firm’s 50-day moving average is $99.20 and its 200 day moving average is $93.94.

Analysts Set New Price Targets

Several brokerages have commented on ALTR. Loop Capital reiterated a “hold” rating and issued a $113.00 price target on shares of Altair Engineering 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. Rosenblatt Securities increased their price objective on shares of Altair Engineering from $88.00 to $113.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Needham & Company LLC restated a “hold” rating and issued a $100.00 target price on shares of Altair Engineering in a report on Thursday, October 31st. Finally, The Goldman Sachs Group cut shares of 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 report on Friday, August 2nd. One equities 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 stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $100.71.

Insider Buying and Selling at Altair Engineering

In related news, major shareholder Christ Revocable Trust sold 50,048 shares of Altair Engineering stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $95.07, for a total transaction of $4,758,063.36. Following the completion of the sale, the insider now owns 149,952 shares in the company, valued at $14,255,936.64. This trade represents a 25.02 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Jrs Investments Llc sold 6,500 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 transaction of $578,760.00. The disclosure for this sale can be found here. Insiders sold 362,544 shares of company stock worth $35,717,201 over the last 90 days. Company insiders own 21.75% of the company’s stock.

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.