Oppenheimer Asset Management Inc. lifted its stake in shares of Altair Engineering Inc (NASDAQ:ALTR) by 22.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,519 shares of the software’s stock after acquiring an additional 2,480 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Altair Engineering were worth $546,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds also recently modified their holdings of ALTR. Royce & Associates LP boosted its holdings in Altair Engineering by 22.6% in the first quarter. Royce & Associates LP now owns 83,154 shares of the software’s stock valued at $3,061,000 after acquiring an additional 15,338 shares during the last quarter. Well Done LLC raised its holdings in Altair Engineering by 0.7% during the 1st quarter. Well Done LLC now owns 52,106 shares of the software’s stock worth $1,918,000 after purchasing an additional 355 shares during the last quarter. Atria Investments LLC bought a new position in Altair Engineering during the 2nd quarter worth approximately $197,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Altair Engineering in the 2nd quarter worth approximately $73,000. Finally, Lombard Odier Asset Management USA Corp acquired a new position in shares of Altair Engineering in the 1st quarter worth approximately $2,209,000. Institutional investors own 45.62% of the company’s stock.
In related news, insider James Dagg sold 1,160 shares of the stock in a transaction on Monday, August 12th. The shares were sold at an average price of $35.14, for a total transaction of $40,762.40. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO James Ralph Scapa sold 90,000 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $40.65, for a total transaction of $3,658,500.00. The disclosure for this sale can be found here. Insiders sold a total of 492,615 shares of company stock valued at $18,778,755 in the last quarter. 29.27% of the stock is currently owned by company insiders.
NASDAQ ALTR traded down $1.05 during trading hours on Wednesday, hitting $31.37. 6,382 shares of the company’s stock were exchanged, compared to its average volume of 396,713. Altair Engineering Inc has a 1-year low of $25.28 and a 1-year high of $43.99. The company has a current ratio of 2.58, a quick ratio of 2.58 and a debt-to-equity ratio of 0.54. The stock has a 50-day simple moving average of $36.45 and a 200 day simple moving average of $37.44. The firm has a market cap of $2.33 billion, a price-to-earnings ratio of 84.65 and a beta of 1.50.
Altair Engineering (NASDAQ:ALTR) last posted its quarterly earnings results on Thursday, August 8th. The software reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.02. The firm had revenue of $106.80 million for the quarter, compared to analysts’ expectations of $108.69 million. Altair Engineering had a return on equity of 9.71% and a net margin of 1.48%. The company’s revenue for the quarter was up 13.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.05 EPS. On average, sell-side analysts anticipate that Altair Engineering Inc will post 0.49 earnings per share for the current fiscal year.
ALTR has been the topic of a number of analyst reports. Zacks Investment Research raised shares of Altair Engineering from a “sell” rating to a “hold” rating in a research note on Tuesday, September 3rd. JPMorgan Chase & Co. reissued an “underweight” rating on shares of Altair Engineering in a research note on Wednesday. Deutsche Bank lowered shares of Altair Engineering from a “buy” rating to a “hold” rating and set a $36.00 target price on the stock. in a report on Friday, August 9th. Needham & Company LLC reaffirmed a “buy” rating and set a $40.00 price target (down previously from $42.00) on shares of Altair Engineering in a research report on Monday, August 12th. Finally, ValuEngine cut shares of Altair Engineering from a “buy” rating to a “hold” rating in a research report on Saturday, May 18th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. The stock 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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