Altair Engineering Inc. (NASDAQ:ALTR) Receives Average Rating of “Reduce” from Analysts

Altair Engineering Inc. (NASDAQ:ALTR) has been given an average recommendation of “Reduce” by the eight analysts that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating and seven have issued a hold rating on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $100.83.

Several analysts recently commented on the company. Rosenblatt Securities reaffirmed a “neutral” rating and set a $113.00 target price on shares of Altair Engineering in a report on Monday, February 24th. Needham & Company LLC reiterated a “hold” rating on shares of Altair Engineering in a research report on Friday, February 21st.

Altair Engineering Stock Down 0.1 %

Shares of NASDAQ:ALTR opened at $111.69 on Tuesday. Altair Engineering has a 52-week low of $75.71 and a 52-week high of $113.12. The stock 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 50-day moving average price of $110.94 and a 200-day moving average price of $104.93.

Altair Engineering (NASDAQ:ALTR) last released its quarterly earnings data on Thursday, February 20th. The software reported $0.36 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.15). The business had revenue of $192.63 million during the quarter, compared to analysts’ expectations of $182.98 million. Altair Engineering had a net margin of 2.13% and a return on equity of 8.08%. As a group, equities analysts anticipate that Altair Engineering will post 0.87 EPS for the current fiscal year.

Insiders Place Their Bets

In other Altair Engineering news, Director Teresa A. Harris sold 450 shares of the business’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $111.08, for a total transaction of $49,986.00. Following the transaction, the director now owns 18,092 shares of the company’s stock, valued at approximately $2,009,659.36. The trade was a 2.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Matthew Charles Brown sold 3,811 shares of the 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 $425,040.83. Following the completion of the sale, the chief financial officer now directly owns 69,394 shares of the company’s stock, valued at approximately $7,739,512.82. This trade represents a 5.21 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 12,172 shares of company stock worth $1,356,847. Corporate insiders own 21.75% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. NBT Bank N A NY raised its holdings in Altair Engineering by 76.4% in the 4th quarter. NBT Bank N A NY now owns 247 shares of the software’s stock valued at $27,000 after buying an additional 107 shares during the period. 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 acquiring an additional 124 shares during the period. Johnson Financial Group Inc. acquired a new position in shares of Altair Engineering in the 4th quarter worth approximately $37,000. GAMMA Investing LLC boosted its position in shares of 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 purchasing an additional 93 shares during the period. Finally, Blue Trust Inc. increased its holdings in 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 purchasing an additional 536 shares during the last quarter. 63.38% of the stock is currently owned by hedge funds and other institutional investors.

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.