Magnetar Financial LLC bought a new stake in shares of Altair Engineering Inc. (NASDAQ:ALTR - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 569,534 shares of the software's stock, valued at approximately $62,142,000. Altair Engineering makes up 1.5% of Magnetar Financial LLC's holdings, making the stock its 19th biggest position. Magnetar Financial LLC owned 0.67% of Altair Engineering at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of ALTR. NBT Bank N A NY boosted its stake in shares of 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 acquiring an additional 107 shares in the last quarter. UMB Bank n.a. boosted its position in shares of Altair Engineering by 77.0% in the 4th quarter. UMB Bank n.a. now owns 285 shares of the software's stock valued at $31,000 after purchasing an additional 124 shares during the period. GAMMA Investing LLC raised its holdings in Altair Engineering by 14.6% during the 4th quarter. GAMMA Investing LLC now owns 729 shares of the software's stock worth $80,000 after buying an additional 93 shares during the period. Blue Trust Inc. raised its holdings in Altair Engineering by 185.5% during the 4th quarter. Blue Trust Inc. now owns 825 shares of the software's stock worth $90,000 after buying an additional 536 shares during the period. Finally, KBC Group NV lifted its stake in Altair Engineering by 17.9% during the third quarter. KBC Group NV now owns 1,640 shares of the software's stock valued at $157,000 after buying an additional 249 shares in the last quarter. 63.38% of the stock is owned by institutional investors and hedge funds.
Insider Transactions at Altair Engineering
In related news, CMO Amy Messano sold 235 shares of the company's stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $111.53, for a total value of $26,209.55. Following the completion of the sale, the chief marketing officer now owns 23,651 shares in the company, valued at $2,637,796.03. This represents a 0.98 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CRO Nelson Dias sold 1,671 shares of Altair Engineering stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $111.30, for a total value of $185,982.30. Following the transaction, the executive now owns 55,411 shares in the company, valued at approximately $6,167,244.30. This represents a 2.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 12,172 shares of company stock worth $1,356,847 in the last three months. Insiders own 21.75% of the company's stock.
Altair Engineering Stock Down 0.1 %
ALTR stock traded down $0.06 during midday trading on Monday, reaching $111.69. The stock had a trading volume of 418,839 shares, compared to its average volume of 654,225. Altair Engineering Inc. has a twelve month low of $75.71 and a twelve month high of $113.12. The firm has a market cap of $9.58 billion, a price-to-earnings ratio of 657.00, a PEG ratio of 10.75 and a beta of 1.45. The business has a fifty day simple moving average of $110.91 and a two-hundred day simple moving average of $104.75.
Altair Engineering (NASDAQ:ALTR - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $192.63 million during the quarter, compared to analyst estimates of $182.98 million. On average, equities analysts predict that Altair Engineering Inc. will post 0.87 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
A number of brokerages have commented on ALTR. Rosenblatt Securities restated a "neutral" rating and set a $113.00 price objective on shares of Altair Engineering in a research report on Monday, February 24th. Needham & Company LLC reiterated a "hold" rating on shares of Altair Engineering in a research note on Friday, February 21st. One research analyst has rated the stock with a sell rating and seven have given a hold rating to the stock. According to MarketBeat, Altair Engineering presently has an average rating of "Hold" and a consensus target price of $100.83.
Read Our Latest Research Report on Altair Engineering
Altair Engineering 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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