Homestead Advisers Corp lowered its position in Altair Engineering Inc. (NASDAQ:ALTR - Free Report) by 10.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 66,877 shares of the software's stock after selling 7,500 shares during the period. Homestead Advisers Corp owned 0.08% of Altair Engineering worth $7,297,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. NBT Bank N A NY increased its stake 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 buying an additional 107 shares in the last quarter. UMB Bank n.a. grew its holdings in 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 acquiring an additional 124 shares during the last quarter. GAMMA Investing LLC increased its position 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 acquiring an additional 93 shares in the last quarter. Blue Trust Inc. raised its stake in shares of Altair Engineering by 185.5% in the fourth quarter. Blue Trust Inc. now owns 825 shares of the software's stock worth $90,000 after acquiring an additional 536 shares during the last quarter. Finally, IFP Advisors Inc acquired a new position in shares of Altair Engineering during the fourth quarter worth approximately $185,000. 63.38% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several research analysts recently weighed in on the stock. Needham & Company LLC restated a "hold" rating on shares of Altair Engineering in a research report on Friday, February 21st. Rosenblatt Securities restated a "neutral" rating and set a $113.00 target price on shares of Altair Engineering in a research report on Monday, February 24th. One analyst has rated the stock with a sell rating and seven have given a hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $100.83.
Get Our Latest Stock Report on ALTR
Altair Engineering Price Performance
Shares of ALTR stock remained flat at $111.85 during trading on Monday. Altair Engineering Inc. has a 52 week low of $75.71 and a 52 week high of $113.12. The firm has a 50 day simple moving average of $111.09 and a two-hundred day simple moving average of $105.67. The stock has a market cap of $9.60 billion, a PE ratio of 657.94, a PEG ratio of 10.75 and a beta of 1.45.
Altair Engineering (NASDAQ:ALTR - Get Free Report) last issued its quarterly earnings data on Thursday, February 20th. The software reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.15). Altair Engineering had a return on equity of 8.08% and a net margin of 2.13%. The company had revenue of $192.63 million for the quarter, compared to analyst estimates of $182.98 million. As a group, research analysts anticipate that Altair Engineering Inc. will post 0.87 EPS for the current year.
Insider Transactions at Altair Engineering
In other news, CFO Matthew Charles Brown sold 3,811 shares of Altair Engineering stock in a transaction that occurred on Wednesday, February 26th. The shares were 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 directly owns 69,394 shares in the company, valued at approximately $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 accessible through this link. Also, CMO Amy Messano sold 416 shares of the firm's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $111.30, for a total value of $46,300.80. Following the transaction, the chief marketing officer now owns 22,980 shares in the company, valued at approximately $2,557,674. This trade represents a 1.78 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 12,172 shares of company stock valued at $1,356,847. 21.75% of the stock is currently owned by corporate insiders.
About Altair Engineering
(
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.
Recommended Stories
Before you consider Altair Engineering, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Altair Engineering wasn't on the list.
While Altair Engineering currently has a Reduce rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Enter your email address and we'll send you MarketBeat's list of ten stocks that are set to soar in Spring 2025, despite the threat of tariffs and other economic uncertainty. These ten stocks are incredibly resilient and are likely to thrive in any economic environment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
