92,434 Shares in Altair Engineering Inc. (NASDAQ:ALTR) Acquired by Grantham Mayo Van Otterloo & Co. LLC

Grantham Mayo Van Otterloo & Co. LLC acquired a new position in shares of Altair Engineering Inc. (NASDAQ:ALTR) in the fourth quarter, HoldingsChannel.com reports. The firm acquired 92,434 shares of the software’s stock, valued at approximately $10,085,000.

A number of other hedge funds also recently added to or reduced their stakes in ALTR. NBT Bank N A NY grew its position in shares of Altair Engineering by 76.4% during the fourth quarter. NBT Bank N A NY now owns 247 shares of the software’s stock worth $27,000 after acquiring an additional 107 shares during the last quarter. UMB Bank n.a. grew its position 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 purchasing an additional 124 shares during the last quarter. GAMMA Investing LLC increased its stake 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 purchasing an additional 93 shares during the period. Blue Trust Inc. raised its holdings 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 buying 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 currently owned by institutional investors.

Altair Engineering Stock Performance

Shares of ALTR stock opened at $111.85 on Monday. Altair Engineering Inc. has a 1 year low of $75.71 and a 1 year high of $113.12. The business’s fifty day moving average is $111.22 and its 200-day moving average is $106.46. The stock has a market cap of $9.60 billion, a PE ratio of 657.94, a price-to-earnings-growth ratio of 10.75 and a beta of 1.45.

Altair Engineering (NASDAQ:ALTR) last released 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). 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 for the quarter, compared to analyst estimates of $182.98 million. Equities research analysts predict that Altair Engineering Inc. will post 0.87 earnings per share for the current year.

Insider Buying and Selling

In other news, CRO Nelson Dias sold 1,671 shares of the business’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $111.30, for a total transaction of $185,982.30. Following the sale, the executive now directly owns 55,411 shares of the company’s stock, valued at $6,167,244.30. The trade was a 2.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CMO Amy Messano sold 416 shares of the company’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $111.30, for a total value of $46,300.80. Following the sale, the chief marketing officer now directly owns 22,980 shares of the company’s stock, valued at approximately $2,557,674. This represents a 1.78 % 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 ninety days. 21.75% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Rosenblatt Securities reaffirmed a “neutral” rating and set a $113.00 target price on shares of Altair Engineering in a research note on Monday, February 24th. Needham & Company LLC restated 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 company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price 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.