Healthcare of Ontario Pension Plan Trust Fund Acquires 21,300 Shares of Altair Engineering Inc. (NASDAQ:ALTR)

Healthcare of Ontario Pension Plan Trust Fund increased its holdings in Altair Engineering Inc. (NASDAQ:ALTR) by 33.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 85,000 shares of the software’s stock after acquiring an additional 21,300 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund owned about 0.10% of Altair Engineering worth $7,153,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of the business. Teachers Retirement System of The State of Kentucky bought a new position in shares of Altair Engineering in the third quarter worth approximately $1,049,000. Matrix Capital Management Company LP grew its position in Altair Engineering by 8.3% in the 4th quarter. Matrix Capital Management Company LP now owns 12,233,174 shares of the software’s stock worth $1,029,422,000 after purchasing an additional 932,717 shares during the period. Comerica Bank purchased a new stake in Altair Engineering during the third quarter valued at $11,051,000. Bain Capital Public Equity LP bought a new position in Altair Engineering in the fourth quarter valued at about $6,376,000. Finally, Versor Investments LP purchased a new position in Altair Engineering in the fourth quarter worth about $298,000. 63.38% of the stock is owned by hedge funds and other institutional investors.

Altair Engineering Stock Performance

Shares of NASDAQ ALTR opened at $99.20 on Tuesday. The firm’s fifty day moving average is $86.74 and its two-hundred day moving average is $84.19. Altair Engineering Inc. has a 52-week low of $57.59 and a 52-week high of $99.86. The company has a market cap of $8.24 billion, a P/E ratio of 1,102.22, a P/E/G ratio of 12.15 and a beta of 1.45. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.46 and a current ratio of 2.46.

Altair Engineering (NASDAQ:ALTR) last released its quarterly earnings results on Thursday, May 2nd. The software reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.06. The business had revenue of $172.91 million during the quarter, compared to analysts’ expectations of $169.29 million. Altair Engineering had a return on equity of 5.60% and a net margin of 1.55%. The firm’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.13 EPS. As a group, analysts anticipate that Altair Engineering Inc. will post 0.66 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently weighed in on ALTR shares. Rosenblatt Securities reiterated a “neutral” rating and set a $88.00 price target on shares of Altair Engineering in a research note on Monday, April 29th. JPMorgan Chase & Co. raised their price objective on shares of Altair Engineering from $86.00 to $95.00 and gave the company an “overweight” rating in a research report on Tuesday, March 26th. Royal Bank of Canada restated a “sector perform” rating and set a $90.00 target price on shares of Altair Engineering in a research note on Thursday, March 21st. Oppenheimer increased their price target on Altair Engineering from $95.00 to $100.00 and gave the stock an “outperform” rating in a research note on Friday, February 23rd. Finally, Needham & Company LLC restated a “buy” rating and issued a $100.00 price objective on shares of Altair Engineering in a research report on Friday, May 3rd. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $94.60.

Insider Activity at Altair Engineering

In related news, Director Teresa A. Harris sold 620 shares of the firm’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $84.00, for a total value of $52,080.00. Following the completion of the sale, the director now directly owns 18,895 shares in the company, valued at $1,587,180. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CAO Brian Gayle sold 1,866 shares of Altair Engineering stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $96.57, for a total transaction of $180,199.62. Following the completion of the sale, the chief accounting officer now owns 16,557 shares of the company’s stock, valued at $1,598,909.49. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Teresa A. Harris sold 620 shares of Altair Engineering stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $84.00, for a total value of $52,080.00. Following the sale, the director now directly owns 18,895 shares of the company’s stock, valued at $1,587,180. The disclosure for this sale can be found here. Insiders have sold a total of 466,007 shares of company stock valued at $41,874,391 over the last 90 days. 21.75% of the stock is owned by corporate insiders.

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.