Altair Engineering (NASDAQ:ALTR) Earns “Hold” Rating from Loop Capital

Altair Engineering (NASDAQ:ALTR)‘s stock had its “hold” rating reiterated by equities research analysts at Loop Capital in a report issued on Thursday, Benzinga reports. They currently have a $113.00 price target on the software’s stock. Loop Capital’s price target would indicate a potential upside of 8.65% from the stock’s previous close.

ALTR has been the subject of several other research reports. Rosenblatt Securities increased their price objective on Altair Engineering from $88.00 to $113.00 and gave the stock a “neutral” rating in a report on Thursday. William Blair restated a “market perform” rating on shares of Altair Engineering in a research note on Thursday. The Goldman Sachs Group cut Altair Engineering from a “neutral” rating to a “sell” rating and lowered their target price for the company from $85.00 to $71.00 in a research note on Friday, August 2nd. Needham & Company LLC restated a “buy” rating and issued a $100.00 target price on shares of Altair Engineering in a research note on Friday, August 2nd. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $90.00 target price on shares of Altair Engineering in a research note on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, Altair Engineering presently has an average rating of “Hold” and a consensus target price of $100.71.

Altair Engineering Trading Up 0.0 %

NASDAQ ALTR opened at $104.00 on Thursday. Altair Engineering has a fifty-two week low of $57.59 and a fifty-two week high of $113.12. The company has a debt-to-equity ratio of 0.29, a quick ratio of 3.14 and a current ratio of 3.14. The stock has a 50 day simple moving average of $94.30 and a two-hundred day simple moving average of $91.54. The stock has a market cap of $8.83 billion, a P/E ratio of 273.68, a price-to-earnings-growth ratio of 13.87 and a beta of 1.45.

Altair Engineering (NASDAQ:ALTR) last released its quarterly earnings data on Wednesday, October 30th. The software reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.07. Altair Engineering had a return on equity of 7.70% and a net margin of 5.10%. The business had revenue of $151.45 million during the quarter, compared to analysts’ expectations of $146.55 million. On average, analysts forecast that Altair Engineering will post 0.65 earnings per share for the current year.

Insider Activity at Altair Engineering

In related news, major shareholder Jrs Investments Llc sold 6,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $89.04, for a total transaction of $578,760.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, major shareholder Jrs Investments Llc sold 6,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $89.04, for a total transaction of $578,760.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Christ Revocable Trust sold 50,048 shares of Altair Engineering stock in a transaction on Friday, September 27th. The stock was sold at an average price of $95.07, for a total value of $4,758,063.36. Following the completion of the sale, the insider now directly owns 149,952 shares of the company’s stock, valued at approximately $14,255,936.64. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 360,360 shares of company stock valued at $35,476,660 in the last 90 days. Corporate insiders own 21.75% of the company’s stock.

Institutional Trading of Altair Engineering

A number of institutional investors and hedge funds have recently modified their holdings of the business. New York State Teachers Retirement System increased its holdings in shares of Altair Engineering by 1.2% in the 3rd quarter. New York State Teachers Retirement System now owns 8,500 shares of the software’s stock worth $812,000 after purchasing an additional 100 shares in the last quarter. ProShare Advisors LLC increased its holdings in shares of Altair Engineering by 1.6% in the 2nd quarter. ProShare Advisors LLC now owns 10,219 shares of the software’s stock worth $1,002,000 after purchasing an additional 160 shares in the last quarter. Ballentine Partners LLC increased its holdings in shares of Altair Engineering by 8.5% in the 3rd quarter. Ballentine Partners LLC now owns 2,236 shares of the software’s stock worth $214,000 after purchasing an additional 175 shares in the last quarter. GAMMA Investing LLC increased 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 purchasing an additional 188 shares in the last quarter. Finally, FSC Wealth Advisors LLC increased its holdings in shares of Altair Engineering by 41.3% in the 2nd quarter. FSC Wealth Advisors LLC now owns 832 shares of the software’s stock worth $82,000 after purchasing an additional 243 shares in the last quarter. Institutional investors own 63.38% of the company’s stock.

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.