Altair Engineering Inc. (NASDAQ:ALTR) Major Shareholder Jrs Investments Llc Sells 6,500 Shares

Altair Engineering Inc. (NASDAQ:ALTR) major shareholder Jrs Investments Llc sold 6,500 shares of the business’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $95.10, for a total transaction of $618,150.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Jrs Investments Llc also recently made the following trade(s):

• On Wednesday, August 28th, Jrs Investments Llc sold 6,500 shares of Altair Engineering stock. The stock was sold at an average price of $89.04, for a total transaction of $578,760.00.
• On Monday, July 29th, Jrs Investments Llc sold 6,500 shares of Altair Engineering stock. The shares were sold at an average price of $88.11, for a total transaction of $572,715.00.

Altair Engineering Trading Down 3.5 %

Altair Engineering stock traded down $3.35 during trading hours on Tuesday, hitting $92.16. The company had a trading volume of 74,625 shares, compared to its average volume of 471,532. The firm has a market cap of $7.65 billion, a P/E ratio of 1,024.00, a P/E/G ratio of 12.01 and a beta of 1.45. The company has a debt-to-equity ratio of 0.29, a quick ratio of 3.14 and a current ratio of 3.14. Altair Engineering Inc. has a 1 year low of $57.59 and a 1 year high of $101.39. The company has a 50-day moving average price of $89.13 and a two-hundred day moving average price of $89.13.

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 the consensus estimate of $0.15 by $0.01. Altair Engineering had a net margin of 4.26% and a return on equity of 6.89%. The firm had revenue of $148.80 million during the quarter, compared to analysts’ expectations of $146.88 million. During the same quarter in the prior year, the company earned ($0.15) EPS. The company’s revenue was up 5.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Altair Engineering Inc. will post 0.65 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. GAMMA Investing LLC boosted its holdings in Altair Engineering by 81.7% during the second quarter. GAMMA Investing LLC now owns 418 shares of the software’s stock worth $41,000 after buying an additional 188 shares in the last quarter. FSC Wealth Advisors LLC boosted 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 worth $82,000 after buying an additional 243 shares in the last quarter. Van ECK Associates Corp boosted its holdings in Altair Engineering by 41.7% during 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 boosted its holdings in Altair Engineering by 68.7% during 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 and hedge funds own 63.38% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on ALTR. Needham & Company LLC reiterated a “buy” rating and set a $100.00 price target on shares of Altair Engineering in a 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 price target on the stock. in a report on Monday, July 15th. Finally, The Goldman Sachs Group downgraded shares of Altair Engineering from a “neutral” rating to a “sell” rating and cut their price target 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 issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $90.67.

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.