Altair Engineering Inc (NASDAQ:ALTR) insider Martin E. Nichols sold 2,500 shares of Altair Engineering stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $33.95, for a total value of $84,875.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
Shares of ALTR stock traded up $0.35 during trading hours on Monday, hitting $35.24. 5,153 shares of the company’s stock were exchanged, compared to its average volume of 491,188. The company has a quick ratio of 1.06, a current ratio of 2.58 and a debt-to-equity ratio of 0.54. The firm has a market cap of $2.50 billion, a P/E ratio of 94.95 and a beta of 1.40. The firm has a 50 day moving average of $40.44 and a two-hundred day moving average of $37.53. Altair Engineering Inc has a fifty-two week low of $25.28 and a fifty-two week high of $43.99.
Altair Engineering (NASDAQ:ALTR) last announced its earnings results on Thursday, August 8th. The software reported $0.06 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.02. The business had revenue of $106.80 million during the quarter, compared to the consensus estimate of $108.69 million. Altair Engineering had a return on equity of 9.71% and a net margin of 1.48%. The business’s quarterly revenue was up 13.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.05 EPS. On average, equities analysts forecast that Altair Engineering Inc will post 0.49 earnings per share for the current fiscal year.
Several institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. increased its position in shares of Altair Engineering by 55.3% during the second quarter. BlackRock Inc. now owns 3,673,207 shares of the software’s stock worth $148,361,000 after purchasing an additional 1,308,497 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Altair Engineering by 7.7% during the second quarter. Vanguard Group Inc. now owns 3,053,897 shares of the software’s stock worth $123,346,000 after purchasing an additional 218,111 shares in the last quarter. Neuberger Berman Group LLC increased its position in shares of Altair Engineering by 20.9% during the first quarter. Neuberger Berman Group LLC now owns 2,707,777 shares of the software’s stock worth $99,673,000 after purchasing an additional 467,553 shares in the last quarter. Pictet Asset Management Ltd. purchased a new stake in shares of Altair Engineering during the second quarter worth approximately $88,191,000. Finally, Primecap Management Co. CA increased its position in shares of Altair Engineering by 0.3% during the second quarter. Primecap Management Co. CA now owns 1,153,600 shares of the software’s stock worth $46,594,000 after purchasing an additional 3,600 shares in the last quarter. Hedge funds and other institutional investors own 45.84% of the company’s stock.
ALTR has been the subject of a number of research reports. Needham & Company LLC reaffirmed a “buy” rating and set a $40.00 target price (down previously from $42.00) on shares of Altair Engineering in a report on Monday, August 12th. Zacks Investment Research downgraded Altair Engineering from a “hold” rating to a “sell” rating in a report on Wednesday, August 14th. ValuEngine downgraded Altair Engineering from a “buy” rating to a “hold” rating in a research note on Saturday, May 18th. Finally, Deutsche Bank downgraded Altair Engineering from a “buy” rating to a “hold” rating and set a $36.00 target price for the company. in a research note on Friday, August 9th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $39.14.
About Altair Engineering
Altair Engineering Inc, together with its subsidiaries, provides software and cloud solutions worldwide. The company operates through two segments, Software and Client Engineering Services. Its integrated suite of multi-disciplinary computer aided engineering software optimizes design performance across various disciplines, including structures, motion, fluids, thermal management, electromagnetics, system modeling and embedded systems.
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