Altair Engineering Inc. (NASDAQ:ALTR) Stake Increased by GAMMA Investing LLC

GAMMA Investing LLC increased its stake in Altair Engineering Inc. (NASDAQ:ALTR) by 52.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 636 shares of the software’s stock after buying an additional 218 shares during the period. GAMMA Investing LLC’s holdings in Altair Engineering were worth $61,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. FSC Wealth Advisors LLC increased its stake in shares of Altair Engineering by 41.3% in 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 during the last quarter. Van ECK Associates Corp increased its stake in Altair Engineering by 41.7% during the second quarter. Van ECK Associates Corp now owns 1,057 shares of the software’s stock valued at $104,000 after purchasing an additional 311 shares during the last quarter. SG Americas Securities LLC bought a new stake in Altair Engineering during the first quarter valued at $177,000. Ballentine Partners LLC bought a new stake in Altair Engineering during the second quarter valued at $202,000. Finally, PFW Advisors LLC bought a new stake in Altair Engineering during the second quarter valued at $204,000. Institutional investors own 63.38% of the company’s stock.

Altair Engineering Stock Performance

ALTR stock opened at $94.88 on Thursday. The company has a market capitalization of $7.88 billion, a P/E ratio of 1,054.22, a PEG ratio of 12.15 and a beta of 1.45. The company has a 50-day simple moving average of $91.12 and a 200 day simple moving average of $89.99. 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 quick ratio of 3.14, a current ratio of 3.14 and a debt-to-equity ratio of 0.29.

Altair Engineering (NASDAQ:ALTR) last issued its quarterly earnings results 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. Altair Engineering had a net margin of 4.26% and a return on equity of 6.89%. The company had revenue of $148.80 million during the quarter, compared to the consensus estimate of $146.88 million. During the same period in the prior year, the company earned ($0.15) EPS. Altair Engineering’s revenue was up 5.4% on a year-over-year basis. Sell-side analysts predict that Altair Engineering Inc. will post 0.65 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. The Goldman Sachs Group lowered shares of 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 reiterated a “buy” rating and set a $100.00 target price on shares of Altair Engineering in a research note 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 target price for the company. in a research note on Monday, July 15th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Altair Engineering presently has a consensus rating of “Hold” and an average price target of $90.67.

Insider Buying and Selling at Altair Engineering

In other Altair Engineering news, major shareholder Christ Revocable Trust sold 50,048 shares of the company’s stock in a transaction dated Friday, September 27th. The shares were 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. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Altair Engineering news, major shareholder Jrs Investments Llc sold 6,500 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 $572,715.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, major shareholder Christ Revocable Trust sold 50,048 shares of the business’s stock in a transaction dated 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 sale, the insider now owns 149,952 shares in the company, 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. In the last three months, insiders sold 260,360 shares of company stock valued at $24,537,300. 21.75% of the stock is owned by insiders.

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.