New Age Alpha Advisors LLC purchased a new stake in shares of Altair Engineering Inc. (NASDAQ:ALTR - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 13,041 shares of the software's stock, valued at approximately $1,423,000.
Other institutional investors and hedge funds have also recently modified their holdings of the company. NBT Bank N A NY grew its holdings 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 worth $27,000 after purchasing an additional 107 shares during the last quarter. UMB Bank n.a. grew its holdings 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 acquiring an additional 124 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Altair Engineering by 14.6% in the fourth quarter. GAMMA Investing LLC now owns 729 shares of the software's stock valued at $80,000 after acquiring an additional 93 shares during the period. Blue Trust Inc. raised its stake in shares of Altair Engineering by 185.5% during the fourth quarter. Blue Trust Inc. now owns 825 shares of the software's stock valued at $90,000 after acquiring an additional 536 shares during the last quarter. Finally, IFP Advisors Inc bought a new position in shares of Altair Engineering during the fourth quarter valued at about $185,000. 63.38% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
A number of research analysts recently issued reports on the company. Needham & Company LLC restated a "hold" rating on shares of Altair Engineering in a report on Friday, February 21st. Rosenblatt Securities reissued a "neutral" rating and set a $113.00 target price on shares of Altair Engineering in a research note 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. According to data from MarketBeat, Altair Engineering presently has a consensus rating of "Hold" and an average target price of $100.83.
Get Our Latest Stock Report on ALTR
Insider Activity at Altair Engineering
In other news, CMO Amy Messano sold 416 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 $46,300.80. Following the completion of the transaction, the chief marketing officer now owns 22,980 shares of the company's stock, valued at $2,557,674. The trade was a 1.78 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Teresa A. Harris sold 2,700 shares of the stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $111.61, for a total transaction of $301,347.00. Following the sale, the director now directly owns 18,542 shares in the company, valued at $2,069,472.62. This trade represents a 12.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 12,172 shares of company stock valued at $1,356,847 in the last three months. Company insiders own 21.75% of the company's stock.
Altair Engineering Price Performance
Shares of NASDAQ:ALTR remained flat at $111.85 during trading on Friday. The company has a market cap of $9.60 billion, a P/E ratio of 657.94, a P/E/G ratio of 10.75 and a beta of 1.45. The business has a 50-day moving average of $111.22 and a 200-day moving average of $106.26. Altair Engineering Inc. has a 52 week low of $75.71 and a 52 week high of $113.12.
Altair Engineering (NASDAQ:ALTR - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The software reported $0.36 earnings per share (EPS) 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. As a group, equities research analysts anticipate that Altair Engineering Inc. will post 0.87 EPS for the current fiscal year.
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.
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