Fifth Third Bancorp Sells 135 Shares of Altair Engineering Inc. (NASDAQ:ALTR)

Fifth Third Bancorp decreased its holdings in shares of Altair Engineering Inc. (NASDAQ:ALTR) by 10.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 1,153 shares of the software’s stock after selling 135 shares during the period. Fifth Third Bancorp’s holdings in Altair Engineering were worth $126,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in ALTR. Blue Trust Inc. boosted its position in shares of Altair Engineering by 572.1% in the 3rd quarter. Blue Trust Inc. now owns 289 shares of the software’s stock worth $28,000 after purchasing an additional 246 shares during the last quarter. UMB Bank n.a. lifted its stake in Altair Engineering by 77.0% in the fourth quarter. UMB Bank n.a. now owns 285 shares of the software’s stock valued at $31,000 after buying an additional 124 shares during the period. GAMMA Investing LLC boosted its holdings in Altair Engineering by 52.2% during the third quarter. GAMMA Investing LLC now owns 636 shares of the software’s stock worth $61,000 after buying an additional 218 shares during the last quarter. Van ECK Associates Corp grew its position in shares of Altair Engineering by 28.5% during the 3rd quarter. Van ECK Associates Corp now owns 1,358 shares of the software’s stock worth $130,000 after buying an additional 301 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 worth $157,000 after buying an additional 249 shares during the period. Institutional investors own 63.38% of the company’s stock.

Insider Transactions at Altair Engineering

In other news, major shareholder Jrs Investments Llc sold 6,500 shares of the business’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $105.69, for a total value of $686,985.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Ravi Kunju sold 360 shares of the firm’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $103.65, for a total transaction of $37,314.00. Following the completion of the transaction, the insider now directly owns 30,305 shares of the company’s stock, valued at approximately $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 61,947 shares of company stock valued at $6,557,428 over the last three months. Company insiders own 21.75% of the company’s stock.

Analysts Set New Price Targets

ALTR has been the topic of a number of analyst reports. Loop Capital reiterated a “hold” rating and issued a $113.00 price target on shares of Altair Engineering in a research report on Thursday, October 31st. Royal Bank of Canada increased their target price on shares of Altair Engineering from $90.00 to $113.00 and gave the stock a “sector perform” rating in a report on Thursday, October 31st. Rosenblatt Securities boosted their price target on shares of Altair Engineering from $88.00 to $113.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Needham & Company LLC restated a “hold” rating and issued a $100.00 price objective on shares of Altair Engineering in a research report on Thursday, October 31st. Finally, Wolfe Research lowered Altair Engineering from a “strong-buy” rating to a “hold” rating in a report on Sunday, November 3rd. 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 data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $100.71.

Altair Engineering Price Performance

ALTR stock opened at $110.35 on Friday. The stock has a 50-day moving average price of $108.43 and a two-hundred day moving average price of $99.11. Altair Engineering Inc. has a 1 year low of $75.71 and a 1 year high of $113.12. The stock has a market cap of $9.39 billion, a PE ratio of 290.40, a price-to-earnings-growth ratio of 10.63 and a beta of 1.42. 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 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.