Olympiad Research LP acquired a new position in Altair Engineering Inc. (NASDAQ:ALTR – Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 18,713 shares of the software’s stock, valued at approximately $2,042,000. Altair Engineering accounts for 2.1% of Olympiad Research LP’s holdings, making the stock its 5th largest position.
Several other large investors have also recently modified their holdings of ALTR. Massachusetts Financial Services Co. MA increased its holdings in shares of Altair Engineering by 31.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 392,343 shares of the software’s stock worth $37,473,000 after buying an additional 94,219 shares during the period. Fisher Asset Management LLC increased its holdings in shares of Altair Engineering by 27.0% in the third quarter. Fisher Asset Management LLC now owns 401,612 shares of the software’s stock worth $38,358,000 after buying an additional 85,303 shares during the period. Victory Capital Management Inc. increased its holdings in shares of Altair Engineering by 25.2% in the third quarter. Victory Capital Management Inc. now owns 388,089 shares of the software’s stock worth $37,066,000 after buying an additional 78,048 shares during the period. State Street Corp increased its holdings in shares of Altair Engineering by 3.3% in the third quarter. State Street Corp now owns 2,053,957 shares of the software’s stock worth $196,173,000 after buying an additional 65,589 shares during the period. Finally, Geode Capital Management LLC increased its holdings in Altair Engineering by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,423,880 shares of the software’s stock valued at $136,020,000 after purchasing an additional 53,088 shares during the period. Hedge funds and other institutional investors own 63.38% of the company’s stock.
Wall Street Analyst Weigh In
A number of brokerages recently issued reports on ALTR. William Blair restated a “market perform” rating on shares of Altair Engineering in a report on Thursday, October 31st. Rosenblatt Securities boosted their price target on Altair Engineering from $88.00 to $113.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Wolfe Research downgraded Altair Engineering from a “strong-buy” rating to a “hold” rating in a report on Sunday, November 3rd. Royal Bank of Canada boosted their price target on Altair Engineering from $90.00 to $113.00 and gave the company a “sector perform” rating in a report on Thursday, October 31st. Finally, Loop Capital restated a “hold” rating and set a $113.00 price target on shares of Altair Engineering in a report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $100.71.
Altair Engineering Stock Performance
Shares of ALTR opened at $111.78 on Friday. The company has a quick ratio of 3.27, a current ratio of 3.27 and a debt-to-equity ratio of 0.27. The business’s 50 day moving average price is $109.90 and its 200-day moving average price is $101.53. Altair Engineering Inc. has a 52 week low of $75.71 and a 52 week high of $113.12. The stock has a market cap of $9.51 billion, a P/E ratio of 657.53, a P/E/G ratio of 10.75 and a beta of 1.42.
Altair Engineering (NASDAQ:ALTR – Get Free Report) last issued 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 return on equity of 8.23% and a net margin of 2.13%. The company had revenue of $192.63 million during the quarter, compared to the consensus estimate of $182.98 million. Equities research analysts anticipate that Altair Engineering Inc. will post 0.87 earnings per share for the current fiscal year.
Insider Transactions at Altair Engineering
In related news, CEO James Ralph Scapa sold 13,000 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $105.69, for a total value of $1,373,970.00. Following the transaction, the chief executive officer now directly owns 134,045 shares of the company’s stock, valued at approximately $14,167,216.05. This represents a 8.84 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Matthew Charles Brown sold 1,048 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $108.90, for a total value of $114,127.20. Following the completion of the transaction, the chief financial officer now directly owns 55,519 shares in the company, valued at $6,046,019.10. This trade represents a 1.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 59,143 shares of company stock valued at $6,265,694 in the last ninety days. 21.75% of the stock is currently owned by corporate insiders.
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.
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