Congress Wealth Management LLC DE Sells 450 Shares of Altair Engineering Inc. (NASDAQ:ALTR)

Congress Wealth Management LLC DE lowered its position in shares of Altair Engineering Inc. (NASDAQ:ALTR) by 15.2% during the fourth quarter, Holdings Channel.com reports. The firm owned 2,502 shares of the software’s stock after selling 450 shares during the quarter. Congress Wealth Management LLC DE’s holdings in Altair Engineering were worth $273,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. NBT Bank N A NY increased its position in Altair Engineering by 76.4% during the 4th quarter. NBT Bank N A NY now owns 247 shares of the software’s stock worth $27,000 after buying an additional 107 shares during the period. UMB Bank n.a. increased its position in Altair Engineering by 77.0% during the fourth 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 period. GAMMA Investing LLC raised its stake in Altair Engineering by 14.6% in 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. boosted 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 period. Finally, IFP Advisors Inc acquired a new position in shares of Altair Engineering during the 4th quarter worth approximately $185,000. 63.38% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on ALTR shares. Needham & Company LLC reiterated a “hold” rating on shares of Altair Engineering in a research report on Friday, February 21st. Rosenblatt Securities reiterated a “neutral” rating and set a $113.00 target price on shares of Altair Engineering in a research report on Monday, February 24th. One analyst has rated the stock with a sell rating and seven have assigned a hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $100.83.

Insider Activity at Altair Engineering

In related news, CFO Matthew Charles Brown sold 3,811 shares of the business’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $111.53, for a total transaction of $425,040.83. Following the sale, the chief financial officer now owns 69,394 shares in the company, valued at $7,739,512.82. The trade was a 5.21 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CMO Amy Messano sold 235 shares of the stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $111.53, for a total value of $26,209.55. Following the completion of the transaction, the chief marketing officer now owns 23,651 shares of the company’s stock, valued at $2,637,796.03. This represents a 0.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 12,172 shares of company stock valued at $1,356,847. 21.75% of the stock is owned by insiders.

Altair Engineering Stock Performance

Shares of ALTR stock opened at $111.85 on Friday. Altair Engineering Inc. has a fifty-two week low of $75.71 and a fifty-two week high of $113.12. The stock’s fifty day moving average price is $111.09 and its two-hundred day moving average price is $105.53. The company has a market cap of $9.60 billion, a PE ratio of 657.94, a P/E/G ratio of 10.75 and a beta of 1.45.

Altair Engineering (NASDAQ:ALTR) last released its quarterly earnings data on Thursday, February 20th. The software reported $0.36 earnings per share 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 analyst estimates of $182.98 million. Altair Engineering had a net margin of 2.13% and a return on equity of 8.08%. On average, equities analysts predict that Altair Engineering Inc. will post 0.87 EPS for the current fiscal year.

Altair Engineering Company 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.