Corebridge Financial Inc. lowered its stake in Altair Engineering Inc. (NASDAQ:ALTR - Free Report) by 6.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 94,231 shares of the software's stock after selling 6,170 shares during the quarter. Corebridge Financial Inc. owned approximately 0.11% of Altair Engineering worth $10,282,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also added to or reduced their stakes in ALTR. NBT Bank N A NY boosted its position in shares of Altair Engineering by 76.4% in the fourth quarter. NBT Bank N A NY now owns 247 shares of the software's stock valued at $27,000 after acquiring an additional 107 shares during the period. UMB Bank n.a. lifted its stake in Altair Engineering by 77.0% in the 4th quarter. UMB Bank n.a. now owns 285 shares of the software's stock worth $31,000 after purchasing an additional 124 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Altair Engineering by 14.6% in the 4th quarter. GAMMA Investing LLC now owns 729 shares of the software's stock valued at $80,000 after purchasing an additional 93 shares during the period. Blue Trust Inc. grew its position in shares of Altair Engineering by 185.5% during the 4th quarter. Blue Trust Inc. now owns 825 shares of the software's stock valued at $90,000 after purchasing an additional 536 shares in the last quarter. Finally, IFP Advisors Inc bought a new position in shares of Altair Engineering in the fourth quarter worth $185,000. Hedge funds and other institutional investors own 63.38% of the company's stock.
Insider Activity
In related news, CFO Matthew Charles Brown sold 3,811 shares of the firm's stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $111.53, for a total value of $425,040.83. Following the completion of the sale, the chief financial officer now owns 69,394 shares of the company's stock, valued at $7,739,512.82. This trade represents a 5.21 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CMO Amy Messano sold 416 shares of the business's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $111.30, for a total transaction of $46,300.80. Following the transaction, the chief marketing officer now directly owns 22,980 shares in the company, valued at approximately $2,557,674. The trade was a 1.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 12,172 shares of company stock valued at $1,356,847. Insiders own 21.75% of the company's stock.
Altair Engineering Stock Performance
ALTR stock remained flat at $111.85 during mid-day trading on Monday. The firm has a fifty day moving average of $111.11 and a 200-day moving average of $105.85. Altair Engineering Inc. has a 52-week low of $75.71 and a 52-week high of $113.12. The company has a market capitalization of $9.60 billion, a price-to-earnings ratio of 657.94, a PEG ratio of 10.75 and a beta of 1.45.
Altair Engineering (NASDAQ:ALTR - Get Free Report) last released its earnings results on Thursday, February 20th. The software reported $0.36 earnings per share for the quarter, missing analysts' consensus estimates of $0.51 by ($0.15). Altair Engineering had a return on equity of 8.08% and a net margin of 2.13%. The firm had revenue of $192.63 million during the quarter, compared to the consensus estimate of $182.98 million. Equities analysts anticipate that Altair Engineering Inc. will post 0.87 EPS for the current fiscal year.
Wall Street Analyst Weigh In
Several equities research analysts recently issued reports on the company. Needham & Company LLC reissued a "hold" rating on shares of Altair Engineering in a research note on Friday, February 21st. Rosenblatt Securities reiterated a "neutral" rating and set a $113.00 price target on shares of Altair Engineering in a research report on Monday, February 24th. One research analyst has rated the stock with a sell rating and seven have given a hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $100.83.
View Our Latest Stock Analysis on Altair Engineering
Altair Engineering Company Profile
(
Free Report)
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.
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