Altair Engineering Inc. (NASDAQ:ALTR) Position Increased by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC raised its stake in Altair Engineering Inc. (NASDAQ:ALTR) by 91.2% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 65,381 shares of the software’s stock after buying an additional 31,186 shares during the period. Mutual of America Capital Management LLC owned approximately 0.08% of Altair Engineering worth $6,413,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. GAMMA Investing LLC grew its holdings in shares of Altair Engineering by 81.7% in the 2nd quarter. GAMMA Investing LLC now owns 418 shares of the software’s stock worth $41,000 after acquiring an additional 188 shares during the last quarter. American International Group Inc. increased its stake in Altair Engineering by 0.7% in the 4th quarter. American International Group Inc. now owns 27,018 shares of the software’s stock worth $2,274,000 after purchasing an additional 189 shares in the last quarter. FSC Wealth Advisors LLC raised its holdings in Altair Engineering by 41.3% during the 2nd quarter. FSC Wealth Advisors LLC now owns 832 shares of the software’s stock worth $82,000 after buying an additional 243 shares during the period. Cullen Frost Bankers Inc. lifted its stake in Altair Engineering by 6.8% during the second quarter. Cullen Frost Bankers Inc. now owns 4,356 shares of the software’s stock valued at $427,000 after buying an additional 276 shares in the last quarter. Finally, Van ECK Associates Corp boosted its holdings in shares of Altair Engineering by 41.7% in the second quarter. Van ECK Associates Corp now owns 1,057 shares of the software’s stock worth $104,000 after buying an additional 311 shares during the period. Institutional investors and hedge funds own 63.38% of the company’s stock.

Altair Engineering Trading Up 2.4 %

Shares of NASDAQ:ALTR opened at $95.13 on Friday. The firm has a fifty day moving average of $89.19 and a two-hundred day moving average of $88.42. The company has a quick ratio of 3.14, a current ratio of 3.14 and a debt-to-equity ratio of 0.29. Altair Engineering Inc. has a 12-month low of $57.59 and a 12-month high of $101.39. The firm has a market capitalization of $7.90 billion, a P/E ratio of 1,054.67, a price-to-earnings-growth ratio of 10.94 and a beta of 1.45.

Altair Engineering (NASDAQ:ALTR) last released its quarterly earnings data on Thursday, August 1st. The software reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.01. Altair Engineering had a return on equity of 6.89% and a net margin of 4.26%. The firm had revenue of $148.80 million during the quarter, compared to analysts’ expectations of $146.88 million. During the same quarter last year, the firm earned ($0.15) earnings per share. The business’s revenue for the quarter was up 5.4% on a year-over-year basis. On average, equities analysts expect that Altair Engineering Inc. will post 0.65 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently commented on ALTR shares. Needham & Company LLC restated a “buy” rating and issued a $100.00 price target on shares of Altair Engineering in a research report on Friday, August 2nd. JPMorgan Chase & Co. downgraded shares of Altair Engineering from an “overweight” rating to a “neutral” rating and set a $95.00 target price on the stock. in a research note on Monday, July 15th. Finally, The Goldman Sachs Group cut Altair Engineering from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $85.00 to $71.00 in a research report on Friday, August 2nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $90.67.

Insider Activity

In related news, major shareholder George J. Christ sold 100,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $98.40, for a total transaction of $9,840,000.00. Following the transaction, the insider now owns 200,000 shares of the company’s stock, valued at $19,680,000. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CEO James Ralph Scapa sold 13,000 shares of the company’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $98.26, for a total value of $1,277,380.00. Following the completion of the sale, the chief executive officer now directly owns 134,045 shares in the company, valued at $13,171,261.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder George J. Christ sold 100,000 shares of the firm’s stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $98.40, for a total value of $9,840,000.00. Following the transaction, the insider now owns 200,000 shares in the company, valued at $19,680,000. The disclosure for this sale can be found here. Insiders sold a total of 153,860 shares of company stock worth $14,739,205 in the last three months. 21.75% of the stock is owned by 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.