Amy Messano Sells 235 Shares of Altair Engineering Inc. (NASDAQ:ALTR) Stock

Altair Engineering Inc. (NASDAQ:ALTR - Get Free Report) CMO Amy Messano sold 235 shares of the company's 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 $26,209.55. Following the transaction, the chief marketing officer now directly owns 23,651 shares of the company's stock, valued at approximately $2,637,796.03. The trade was a 0.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Altair Engineering Trading Down 0.2 %

ALTR traded down $0.17 on Monday, hitting $111.43. 1,125,589 shares of the company's stock were exchanged, compared to its average volume of 779,175. Altair Engineering Inc. has a fifty-two week low of $75.71 and a fifty-two week high of $113.12. The stock has a market cap of $9.48 billion, a price-to-earnings ratio of 655.47, a P/E/G ratio of 10.75 and a beta of 1.42. The firm has a 50-day moving average price of $110.39 and a 200-day moving average price of $102.59.

Altair Engineering (NASDAQ:ALTR - Get Free Report) last posted its quarterly 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). The business had revenue of $192.63 million for the quarter, compared to analyst estimates of $182.98 million. Altair Engineering had a return on equity of 8.08% and a net margin of 2.13%. On average, equities analysts predict that Altair Engineering Inc. will post 0.87 EPS for the current year.

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Institutional Investors Weigh In On Altair Engineering

Large investors have recently made changes to their positions in the stock. Polar Asset Management Partners Inc. purchased a new position in Altair Engineering during the fourth quarter worth approximately $5,456,000. GTS Securities LLC purchased a new position in shares of Altair Engineering during the 4th quarter worth $201,000. BCK Capital Management LP purchased a new position in shares of Altair Engineering during the 4th quarter worth $1,506,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Altair Engineering by 201.0% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 381,061 shares of the software's stock valued at $41,578,000 after acquiring an additional 254,448 shares during the last quarter. Finally, Voloridge Investment Management LLC purchased a new stake in shares of Altair Engineering in the fourth quarter valued at about $4,580,000. 63.38% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ALTR has been the subject of several recent analyst reports. Needham & Company LLC reissued a "hold" rating on shares of Altair Engineering in a report on Friday, February 21st. Wolfe Research cut shares of Altair Engineering from a "strong-buy" rating to a "hold" rating in a research note on Sunday, November 3rd. Finally, Rosenblatt Securities reaffirmed a "neutral" rating and issued a $113.00 price target on shares of Altair Engineering in a research note on Monday, February 24th. One analyst has rated the stock with a sell rating and seven have assigned a hold rating to the stock. According to data from MarketBeat.com, Altair Engineering has an average rating of "Hold" and a consensus price target of $100.83.

About Altair Engineering

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.