Altair Engineering Inc. (NASDAQ:ALTR) Director Sells $58,974.40 in Stock

Altair Engineering Inc. (NASDAQ:ALTR) Director Teresa A. Harris sold 620 shares of the stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $95.12, for a total value of $58,974.40. Following the transaction, the director now owns 21,242 shares of the company’s stock, valued at $2,020,539.04. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Altair Engineering Trading Down 3.9 %

Shares of ALTR traded down $3.73 during trading hours on Tuesday, reaching $91.78. 296,818 shares of the company traded hands, compared to its average volume of 472,708. The stock’s fifty day moving average price is $89.13 and its 200 day moving average price is $89.22. The company has a current ratio of 3.14, a quick ratio of 3.14 and a debt-to-equity ratio of 0.29. The firm has a market cap of $7.62 billion, a price-to-earnings ratio of 1,019.78, a PEG ratio of 12.01 and a beta of 1.45. Altair Engineering Inc. has a 12-month low of $57.59 and a 12-month high of $101.39.

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

Wall Street Analyst Weigh In

A number of brokerages have commented on ALTR. The Goldman Sachs Group cut shares of Altair Engineering from a “neutral” rating to a “sell” rating and dropped their price objective for the stock from $85.00 to $71.00 in a research note on Friday, August 2nd. JPMorgan Chase & Co. lowered Altair Engineering from an “overweight” rating to a “neutral” rating and set a $95.00 price target for the company. in a research report on Monday, July 15th. Finally, Needham & Company LLC restated a “buy” rating and set a $100.00 price objective on shares of Altair Engineering in a research report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $90.67.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of ALTR. GAMMA Investing LLC grew its holdings in Altair Engineering by 81.7% during the 2nd quarter. GAMMA Investing LLC now owns 418 shares of the software’s stock worth $41,000 after acquiring an additional 188 shares in the last quarter. FSC Wealth Advisors LLC increased its holdings in Altair Engineering by 41.3% during the second quarter. FSC Wealth Advisors LLC now owns 832 shares of the software’s stock valued at $82,000 after buying an additional 243 shares during the period. Van ECK Associates Corp raised its stake in 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 in the last quarter. Natixis Investment Managers International raised its stake in Altair Engineering by 68.7% in the fourth quarter. Natixis Investment Managers International now owns 1,940 shares of the software’s stock worth $163,000 after buying an additional 790 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new stake in Altair Engineering during the first quarter worth $177,000. Institutional investors own 63.38% of the company’s stock.

Altair Engineering Company 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.