Homestead Advisers Corp Decreases Stock Holdings in Altair Engineering Inc. (NASDAQ:ALTR)

Homestead Advisers Corp decreased its position in Altair Engineering Inc. (NASDAQ:ALTR) by 10.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 66,877 shares of the software’s stock after selling 7,500 shares during the quarter. Homestead Advisers Corp’s holdings in Altair Engineering were worth $7,297,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Magnetar Financial LLC purchased a new position in shares of Altair Engineering during the fourth quarter valued at approximately $62,142,000. Vanguard Group Inc. raised its holdings in Altair Engineering by 4.8% in the 4th quarter. Vanguard Group Inc. now owns 6,894,230 shares of the software’s stock worth $752,229,000 after purchasing an additional 317,575 shares in the last quarter. Fisher Asset Management LLC lifted its position in shares of Altair Engineering by 27.0% in the 3rd quarter. Fisher Asset Management LLC now owns 401,612 shares of the software’s stock worth $38,358,000 after purchasing an additional 85,303 shares during the period. New York Life Investment Management LLC lifted its holdings in Altair Engineering by 1,103.3% in the fourth quarter. New York Life Investment Management LLC now owns 76,363 shares of the software’s stock worth $8,332,000 after buying an additional 70,017 shares during the period. Finally, State Street Corp boosted its position in Altair Engineering by 3.3% during the 3rd quarter. State Street Corp now owns 2,053,957 shares of the software’s stock valued at $196,173,000 after acquiring an additional 65,589 shares in the last quarter. 63.38% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CRO Nelson Dias sold 373 shares of the business’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $111.53, for a total transaction of $41,600.69. Following the completion of the transaction, the executive now directly owns 57,573 shares in the company, valued at approximately $6,421,116.69. The trade was a 0.64 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Teresa A. Harris sold 450 shares of the company’s stock in a transaction that occurred 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 completion of 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 12,172 shares of company stock valued at $1,356,847. Insiders own 21.75% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Rosenblatt Securities restated a “neutral” rating and issued a $113.00 target price on shares of Altair Engineering in a research note on Monday, February 24th. Needham & Company LLC restated a “hold” rating on shares of Altair Engineering in a report 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 company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $100.83.

Altair Engineering Stock Up 0.9 %

ALTR opened at $112.73 on Thursday. The stock has a market capitalization of $9.67 billion, a price-to-earnings ratio of 663.12, a PEG ratio of 10.75 and a beta of 1.45. The firm has a 50 day moving average price of $111.02 and a 200-day moving average price of $105.17. Altair Engineering Inc. has a twelve month low of $75.71 and a twelve month high of $113.12.

Altair Engineering (NASDAQ:ALTR) last released 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). Altair Engineering had a net margin of 2.13% and a return on equity of 8.08%. The firm had revenue of $192.63 million for the quarter, compared to the consensus estimate of $182.98 million. As a group, analysts expect that Altair Engineering Inc. will post 0.87 earnings per share for the current year.

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.