Altair Engineering Inc. (NASDAQ:ALTR) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Altair Engineering Inc. (NASDAQ:ALTR) have been given a consensus recommendation of “Hold” by the six analysts that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $90.67.

A number of brokerages have commented on ALTR. Needham & Company LLC reaffirmed a “buy” rating and issued a $100.00 price target on shares of Altair Engineering in a research note on Friday, August 2nd. The Goldman Sachs Group downgraded shares of Altair Engineering from a “neutral” rating to a “sell” rating and cut their price objective for the company from $85.00 to $71.00 in a research report on Friday, August 2nd. Finally, JPMorgan Chase & Co. lowered shares of Altair Engineering from an “overweight” rating to a “neutral” rating and set a $95.00 price objective for the company. in a report on Monday, July 15th.

Insider Activity at Altair Engineering

In other news, major shareholder George J. Christ sold 49,952 shares of the business’s stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $95.72, for a total value of $4,781,405.44. Following the transaction, the insider now directly owns 100,000 shares in the company, valued at $9,572,000. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, major shareholder George J. Christ sold 49,952 shares of the business’s stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $95.72, for a total value of $4,781,405.44. Following the sale, the insider now directly owns 100,000 shares in the company, valued at approximately $9,572,000. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO James Ralph Scapa sold 13,000 shares of the business’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $88.11, for a total transaction of $1,145,430.00. Following the completion of the sale, the chief executive officer now owns 134,045 shares in the company, valued at approximately $11,810,704.95. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 260,360 shares of company stock worth $24,537,300. Corporate insiders own 21.75% of the company’s stock.

Institutional Trading of Altair Engineering

Several institutional investors have recently added to or reduced their stakes in ALTR. Wellington Management Group LLP lifted its stake in Altair Engineering by 97.3% in the fourth quarter. Wellington Management Group LLP now owns 1,182,339 shares of the software’s stock worth $99,494,000 after acquiring an additional 583,127 shares during the period. Russell Investments Group Ltd. raised its position in Altair Engineering by 5,564.8% during the first quarter. Russell Investments Group Ltd. now owns 31,043 shares of the software’s stock worth $2,676,000 after acquiring an additional 30,495 shares during the period. Linden Thomas Advisory Services LLC acquired a new position in Altair Engineering in the 2nd quarter valued at $629,000. Jane Street Group LLC lifted its stake in Altair Engineering by 960.2% in the 1st quarter. Jane Street Group LLC now owns 303,672 shares of the software’s stock worth $26,161,000 after purchasing an additional 275,030 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in Altair Engineering by 3.2% during the first quarter. Vanguard Group Inc. now owns 5,944,285 shares of the software’s stock worth $512,100,000 after purchasing an additional 182,840 shares during the last quarter. Institutional investors own 63.38% of the company’s stock.

Altair Engineering Stock Down 1.3 %

Shares of NASDAQ ALTR opened at $94.22 on Wednesday. The business has a 50-day moving average of $90.93 and a 200-day moving average of $89.96. The firm has a market capitalization of $7.82 billion, a price-to-earnings ratio of 1,046.89, a PEG ratio of 12.15 and a beta of 1.45. Altair Engineering has a 12 month low of $57.59 and a 12 month high of $101.39. The company has a current ratio of 3.14, a quick ratio of 3.14 and a debt-to-equity ratio of 0.29.

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

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.