George J. Christ Sells 83,336 Shares of Altair Engineering Inc. (NASDAQ:ALTR) Stock

Altair Engineering Inc. (NASDAQ:ALTR) major shareholder George J. Christ sold 83,336 shares of the business’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $85.99, for a total transaction of $7,166,062.64. Following the completion of the sale, the insider now owns 200,000 shares in the company, valued at $17,198,000. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

George J. Christ also recently made the following trade(s):

• On Tuesday, January 23rd, George J. Christ sold 100,000 shares of Altair Engineering stock. The stock was sold at an average price of $87.32, for a total value of $8,732,000.00.

Altair Engineering Stock Performance

Shares of Altair Engineering stock opened at $83.76 on Wednesday. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.32. Altair Engineering Inc. has a 52 week low of $57.59 and a 52 week high of $92.92. The firm’s 50 day moving average is $85.69 and its two-hundred day moving average is $76.47. The firm has a market capitalization of $6.91 billion, a P/E ratio of -644.31, a P/E/G ratio of 12.03 and a beta of 1.42.

Altair Engineering (NASDAQ:ALTR) last posted its earnings results on Thursday, February 22nd. The software reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.07. Altair Engineering had a negative net margin of 1.46% and a positive return on equity of 3.77%. The firm had revenue of $171.50 million for the quarter, compared to the consensus estimate of $172.48 million. Research analysts forecast that Altair Engineering Inc. will post 0.6 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on ALTR. Needham & Company LLC reiterated a “buy” rating and set a $100.00 target price on shares of Altair Engineering in a report on Monday, March 25th. JPMorgan Chase & Co. lifted their target price on Altair Engineering from $86.00 to $95.00 and gave the company an “overweight” rating in a report on Tuesday, March 26th. Royal Bank of Canada restated a “sector perform” rating and set a $90.00 price target on shares of Altair Engineering in a report on Thursday, March 21st. Oppenheimer lifted their price objective on Altair Engineering from $95.00 to $100.00 and gave the company an “outperform” rating in a research note on Friday, February 23rd. Finally, Rosenblatt Securities reiterated a “neutral” rating and issued a $88.00 price target (up previously from $74.00) on shares of Altair Engineering in a research note on Friday, February 23rd. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $88.71.

Institutional Trading of Altair Engineering

A number of large investors have recently made changes to their positions in the company. McGlone Suttner Wealth Management Inc. acquired a new stake in shares of Altair Engineering in the fourth quarter valued at approximately $31,000. EdgeRock Capital LLC purchased a new stake in shares of Altair Engineering in the fourth quarter valued at about $33,000. UBS Group AG boosted its stake in shares of Altair Engineering by 48.7% during the fourth quarter. UBS Group AG now owns 938 shares of the software’s stock worth $43,000 after buying an additional 307 shares during the period. Harvest Fund Management Co. Ltd grew its holdings in shares of Altair Engineering by 1,157.7% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 981 shares of the software’s stock worth $83,000 after buying an additional 903 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its position in Altair Engineering by 17.2% in the 3rd quarter. Tower Research Capital LLC TRC now owns 1,481 shares of the software’s stock valued at $93,000 after acquiring an additional 217 shares during the period. 63.38% of the stock is owned by institutional investors and hedge funds.

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.