Polar Capital LLP Invests $20.30 Million in Altair Engineering Inc (ALTR)
Polar Capital LLP bought a new position in shares of Altair Engineering Inc (NASDAQ:ALTR) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 735,844 shares of the software’s stock, valued at approximately $20,295,000. Polar Capital LLP owned about 1.05% of Altair Engineering as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds have also made changes to their positions in ALTR. NumerixS Investment Technologies Inc bought a new position in Altair Engineering in the fourth quarter valued at about $78,000. Legal & General Group Plc boosted its holdings in Altair Engineering by 22.9% in the third quarter. Legal & General Group Plc now owns 4,562 shares of the software’s stock valued at $198,000 after acquiring an additional 850 shares during the last quarter. Oppenheimer Asset Management Inc. bought a new position in Altair Engineering in the fourth quarter valued at about $199,000. California Public Employees Retirement System bought a new position in Altair Engineering in the second quarter valued at about $258,000. Finally, Invictus RG bought a new position in Altair Engineering in the third quarter valued at about $293,000. Institutional investors own 38.17% of the company’s stock.
Shares of ALTR opened at $38.33 on Thursday. The company has a current ratio of 1.21, a quick ratio of 1.19 and a debt-to-equity ratio of 0.11. Altair Engineering Inc has a 1 year low of $25.28 and a 1 year high of $43.99. The stock has a market cap of $2.72 billion, a price-to-earnings ratio of 103.59 and a beta of 1.63.
Several equities analysts recently issued reports on the company. Needham & Company LLC raised their price target on Altair Engineering from $40.00 to $42.00 and gave the company a “buy” rating in a report on Thursday. ValuEngine upgraded Altair Engineering from a “hold” rating to a “buy” rating in a report on Monday, February 4th. Finally, Zacks Investment Research upgraded Altair Engineering from a “hold” rating to a “buy” rating and set a $32.00 price target on the stock in a report on Wednesday, January 9th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Altair Engineering currently has a consensus rating of “Buy” and a consensus price target of $38.57.
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Altair Engineering Company Profile
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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