King Luther Capital Management Corp Grows Holdings in Altair Engineering Inc. (NASDAQ:ALTR)

King Luther Capital Management Corp raised its position in Altair Engineering Inc. (NASDAQ:ALTR) by 5.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 165,423 shares of the software’s stock after buying an additional 8,520 shares during the period. King Luther Capital Management Corp owned approximately 0.20% of Altair Engineering worth $16,225,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Blair William & Co. IL acquired a new position in shares of Altair Engineering in the second quarter worth about $441,000. Vanguard Personalized Indexing Management LLC acquired a new position in shares of Altair Engineering in the 2nd quarter valued at approximately $228,000. Amalgamated Bank boosted its stake in shares of Altair Engineering by 1,378.0% during the 2nd quarter. Amalgamated Bank now owns 27,594 shares of the software’s stock valued at $2,706,000 after buying an additional 25,727 shares during the last quarter. Mutual of America Capital Management LLC grew its position in shares of Altair Engineering by 91.2% during the second quarter. Mutual of America Capital Management LLC now owns 65,381 shares of the software’s stock worth $6,413,000 after buying an additional 31,186 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of Altair Engineering by 7.8% in the second quarter. Dimensional Fund Advisors LP now owns 513,695 shares of the software’s stock worth $50,384,000 after buying an additional 37,114 shares during the last quarter. 63.38% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Altair Engineering Price Performance

Shares of NASDAQ:ALTR opened at $94.43 on Friday. The company has a quick ratio of 3.14, a current ratio of 3.14 and a debt-to-equity ratio of 0.29. The firm has a 50-day simple moving average of $89.11 and a 200 day simple moving average of $88.46. Altair Engineering Inc. has a fifty-two week low of $57.59 and a fifty-two week high of $101.39. The company has a market cap of $7.84 billion, a PE ratio of 1,049.22, a P/E/G ratio of 10.94 and a beta of 1.45.

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

Insider Buying and Selling at Altair Engineering

In other news, Director Teresa A. Harris sold 620 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $89.70, for a total transaction of $55,614.00. Following the completion of the transaction, the director now owns 21,242 shares in the company, valued at $1,905,407.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Teresa A. Harris sold 620 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $89.70, for a total value of $55,614.00. Following the completion of the transaction, the director now directly owns 21,242 shares of the company’s stock, valued at approximately $1,905,407.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Jrs Investments Llc sold 6,500 shares of Altair Engineering stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $89.04, for a total value of $578,760.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 153,860 shares of company stock worth $14,739,205. 21.75% of the stock is owned by insiders.

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.