Altair Engineering Inc. (NASDAQ:ALTR) Shares Acquired by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd raised its position in Altair Engineering Inc. (NASDAQ:ALTR - Free Report) by 495.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,079 shares of the software's stock after acquiring an additional 5,891 shares during the quarter. Harvest Fund Management Co. Ltd's holdings in Altair Engineering were worth $743,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ALTR. NBT Bank N A NY lifted its holdings in Altair Engineering by 76.4% during the 4th quarter. NBT Bank N A NY now owns 247 shares of the software's stock worth $27,000 after buying an additional 107 shares during the last quarter. UMB Bank n.a. lifted its position in shares of Altair Engineering by 77.0% during the 4th quarter. UMB Bank n.a. now owns 285 shares of the software's stock worth $31,000 after buying an additional 124 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of 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 buying an additional 93 shares in the last quarter. Blue Trust Inc. grew its position in shares of Altair Engineering by 185.5% in the 4th quarter. Blue Trust Inc. now owns 825 shares of the software's stock valued at $90,000 after buying an additional 536 shares during the last quarter. Finally, KBC Group NV raised its stake in 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 acquiring an additional 249 shares in the last quarter. Institutional investors and hedge funds own 63.38% of the company's stock.

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Insider Buying and Selling at Altair Engineering

In related news, CFO Matthew Charles Brown sold 3,811 shares of Altair Engineering stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 69,394 shares in the company, valued at $7,739,512.82. The trade was a 5.21 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Teresa A. Harris sold 2,700 shares of the stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $111.61, for a total value of $301,347.00. Following the completion of the transaction, the director now owns 18,542 shares of the company's stock, valued at $2,069,472.62. The trade was a 12.71 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 12,172 shares of company stock valued at $1,356,847. 21.75% of the stock is owned by company insiders.

Altair Engineering Trading Up 0.1 %

Shares of NASDAQ ALTR traded up $0.16 during midday trading on Tuesday, reaching $111.85. 929,026 shares of the company were exchanged, compared to its average volume of 654,048. The stock has a market cap of $9.60 billion, a P/E ratio of 657.94, a PEG ratio of 10.75 and a beta of 1.45. Altair Engineering Inc. has a 1 year low of $75.71 and a 1 year high of $113.12. The stock has a fifty day simple moving average of $110.94 and a 200 day simple moving average of $104.93.

Altair Engineering (NASDAQ:ALTR - Get Free Report) last announced its earnings results on Thursday, February 20th. The software reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.15). Altair Engineering had a net margin of 2.13% and a return on equity of 8.08%. The company had revenue of $192.63 million during the quarter, compared to analysts' expectations of $182.98 million. As a group, analysts forecast that Altair Engineering Inc. will post 0.87 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on ALTR shares. Needham & Company LLC restated a "hold" rating on shares of Altair Engineering in a research note on Friday, February 21st. Rosenblatt Securities reissued a "neutral" rating and issued a $113.00 target price on shares of Altair Engineering in a research report on Monday, February 24th. One equities research analyst has rated the stock with a sell rating and seven have given a hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $100.83.

Altair Engineering Company 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.