Tower Research Capital LLC TRC Has $526,000 Holdings in Altair Engineering Inc. (NASDAQ:ALTR)

Tower Research Capital LLC TRC boosted its stake in shares of Altair Engineering Inc. (NASDAQ:ALTR) by 194.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,819 shares of the software’s stock after purchasing an additional 3,185 shares during the quarter. Tower Research Capital LLC TRC’s holdings in Altair Engineering were worth $526,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. FIL Ltd acquired a new position in shares of Altair Engineering in the 4th quarter valued at $12,329,000. Principal Financial Group Inc. raised its stake in shares of Altair Engineering by 1.7% in the 4th quarter. Principal Financial Group Inc. now owns 168,665 shares of the software’s stock valued at $18,403,000 after buying an additional 2,872 shares in the last quarter. UMB Bank n.a. raised its stake 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 buying an additional 124 shares in the last quarter. Blue Trust Inc. raised its stake 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 in the last quarter. Finally, KBC Group NV raised its stake in shares of Altair Engineering by 62.4% in the 4th quarter. KBC Group NV now owns 2,663 shares of the software’s stock valued at $291,000 after buying an additional 1,023 shares in the last quarter. Institutional investors and hedge funds own 63.38% of the company’s stock.

Altair Engineering Stock Performance

NASDAQ:ALTR opened at $111.85 on Tuesday. Altair Engineering Inc. has a 1 year low of $75.71 and a 1 year high of $113.12. The firm has a 50 day moving average of $111.69 and a 200-day moving average of $108.56. The stock has a market capitalization of $9.60 billion, a P/E ratio of 657.94, a price-to-earnings-growth ratio of 10.75 and a beta of 1.45.

Altair Engineering (NASDAQ:ALTR) last posted its earnings results 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). The firm had revenue of $192.63 million during the quarter, compared to the consensus estimate of $182.98 million. Altair Engineering had a net margin of 2.13% and a return on equity of 8.08%. As a group, analysts forecast that Altair Engineering Inc. will post 0.87 EPS for the current fiscal year.

Insider Activity at Altair Engineering

In related news, CFO Matthew Charles Brown sold 3,811 shares of the firm’s 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 owns 69,394 shares of the company’s stock, valued at $7,739,512.82. This trade represents a 5.21 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CMO Amy Messano sold 235 shares of the firm’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $111.53, for a total transaction of $26,209.55. Following the completion of the sale, the chief marketing officer now directly owns 23,651 shares of the company’s stock, valued at approximately $2,637,796.03. This represents a 0.98 % decrease in their position. 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 over the last quarter. Corporate insiders own 21.75% of the company’s stock.

Analyst Upgrades and Downgrades

ALTR has been the subject of a number of recent research reports. Needham & Company LLC restated a “hold” rating on shares of Altair Engineering in a research note on Friday, February 21st. Rosenblatt Securities restated a “neutral” rating and issued a $113.00 price target on shares of Altair Engineering in a research report on Monday, February 24th. One investment analyst has rated the stock with a sell rating and seven have given a hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $100.83.

Altair Engineering 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.