ClearAlpha Technologies LP Makes New $7.09 Million Investment in Altair Engineering Inc. (NASDAQ:ALTR)

ClearAlpha Technologies LP purchased a new stake in Altair Engineering Inc. (NASDAQ:ALTR) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 64,987 shares of the software’s stock, valued at approximately $7,091,000. Altair Engineering comprises approximately 4.9% of ClearAlpha Technologies LP’s investment portfolio, making the stock its 3rd largest holding.

A number of other institutional investors also recently modified their holdings of the business. NBT Bank N A NY grew its position in Altair Engineering by 76.4% in the fourth quarter. NBT Bank N A NY now owns 247 shares of the software’s stock valued at $27,000 after acquiring an additional 107 shares during the last quarter. UMB Bank n.a. grew its holdings in shares of Altair Engineering by 77.0% during 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 last quarter. GAMMA Investing LLC increased its position 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 purchasing an additional 93 shares in the last quarter. Blue Trust Inc. lifted its stake 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. Finally, IFP Advisors Inc acquired a new stake in Altair Engineering in the fourth quarter valued at approximately $185,000. Institutional investors and hedge funds own 63.38% of the company’s stock.

Analyst Ratings Changes

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

Altair Engineering Price Performance

Shares of Altair Engineering stock opened at $111.85 on Monday. The firm has a market capitalization of $9.60 billion, a price-to-earnings ratio of 657.94, a PEG ratio of 10.75 and a beta of 1.45. Altair Engineering Inc. has a one year low of $75.71 and a one year high of $113.12. The business has a 50-day simple moving average of $111.57 and a 200 day simple moving average of $107.84.

Altair Engineering (NASDAQ:ALTR) last announced its quarterly earnings results on Thursday, February 20th. The software reported $0.36 EPS for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $182.98 million. On average, sell-side analysts expect that Altair Engineering Inc. will post 0.87 EPS for the current year.

Insider Buying and Selling

In other Altair Engineering news, CMO Amy Messano sold 416 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $111.30, for a total transaction of $46,300.80. Following the completion of the sale, the chief marketing officer now directly owns 22,980 shares of the company’s stock, valued at approximately $2,557,674. The trade was a 1.78 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 transaction, the chief financial officer now owns 69,394 shares in the company, valued at $7,739,512.82. This represents a 5.21 % decrease in their position. 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 quarter. Insiders own 21.75% of the company’s stock.

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.