Dynamic Technology Lab Private Ltd Makes New Investment in Altair Engineering Inc. (NASDAQ:ALTR)

Dynamic Technology Lab Private Ltd acquired a new stake in shares of Altair Engineering Inc. (NASDAQ:ALTR) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 6,330 shares of the software’s stock, valued at approximately $691,000.

Other institutional investors have also recently made changes to their positions 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 valued at $27,000 after buying an additional 107 shares in the last quarter. UMB Bank n.a. increased its holdings in shares of Altair Engineering by 77.0% during the fourth quarter. UMB Bank n.a. now owns 285 shares of the software’s stock valued at $31,000 after acquiring an additional 124 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Altair Engineering by 14.6% during the fourth quarter. GAMMA Investing LLC now owns 729 shares of the software’s stock valued at $80,000 after acquiring an additional 93 shares in the last quarter. Blue Trust Inc. raised its position 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 purchasing an additional 536 shares during the last quarter. Finally, IFP Advisors Inc acquired a new stake in Altair Engineering in the 4th quarter worth approximately $185,000. Institutional investors and hedge funds own 63.38% of the company’s stock.

Altair Engineering Price Performance

ALTR stock opened at $111.85 on Tuesday. The company 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 Inc. has a 12 month low of $75.71 and a 12 month high of $113.12. The firm’s fifty day simple moving average is $111.26 and its 200-day simple moving average is $106.58.

Altair Engineering (NASDAQ:ALTR) last announced its quarterly earnings results 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 company had revenue of $192.63 million for the quarter, compared to analyst estimates of $182.98 million. Altair Engineering had a return on equity of 8.08% and a net margin of 2.13%. As a group, sell-side analysts forecast that Altair Engineering Inc. will post 0.87 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have issued reports on ALTR. Needham & Company LLC reaffirmed a “hold” rating on shares of Altair Engineering in a report on Friday, February 21st. Rosenblatt Securities reaffirmed a “neutral” rating and set a $113.00 price target 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 issued a hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $100.83.

Insider Buying and Selling

In other news, Director Teresa A. Harris sold 450 shares of the stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $111.08, for a total transaction of $49,986.00. Following the sale, the director now directly owns 18,092 shares of the company’s stock, valued at $2,009,659.36. This represents a 2.43 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CMO Amy Messano sold 416 shares of Altair Engineering stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $111.30, for a total value of $46,300.80. Following the completion of the transaction, the chief marketing officer now owns 22,980 shares of the company’s stock, valued at approximately $2,557,674. This represents a 1.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 12,172 shares of company stock valued at $1,356,847 over the last ninety days. Company insiders own 21.75% of the company’s stock.

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.