Altair Engineering Inc. (NASDAQ:ALTR – Get Free Report) major shareholder George J. Christ sold 100,000 shares of Altair Engineering stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $98.40, for a total value of $9,840,000.00. Following the completion of the transaction, the insider now owns 200,000 shares in the company, valued at $19,680,000. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.
Altair Engineering Price Performance
ALTR stock opened at $98.08 on Friday. The firm has a 50 day moving average of $89.77 and a 200-day moving average of $85.90. The company has a market cap of $8.14 billion, a price-to-earnings ratio of 1,089.78, a PEG ratio of 12.31 and a beta of 1.45. The company has a current ratio of 2.46, a quick ratio of 2.46 and a debt-to-equity ratio of 0.30. Altair Engineering Inc. has a 12-month low of $57.59 and a 12-month high of $100.79.
Altair Engineering (NASDAQ:ALTR – Get Free Report) last issued its quarterly earnings data on Thursday, May 2nd. The software reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.06. The firm 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%. Altair Engineering’s revenue was up 4.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.13 earnings per share. As a group, equities analysts expect that Altair Engineering Inc. will post 0.66 EPS for the current fiscal year.
Wall Street Analyst Weigh In
View Our Latest Research Report on ALTR
Hedge Funds Weigh In On Altair Engineering
Several hedge funds have recently added to or reduced their stakes in ALTR. Matrix Capital Management Company LP lifted its holdings in shares of Altair Engineering by 1.6% in the first quarter. Matrix Capital Management Company LP now owns 12,430,000 shares of the software’s stock valued at $1,070,844,000 after purchasing an additional 196,826 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of 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. Conestoga Capital Advisors LLC increased its stake in Altair Engineering by 0.6% in the first quarter. Conestoga Capital Advisors LLC now owns 2,440,081 shares of the software’s stock valued at $210,213,000 after purchasing an additional 15,370 shares during the last quarter. Wellington Management Group LLP lifted its position in Altair Engineering by 97.3% during the fourth quarter. Wellington Management Group LLP now owns 1,182,339 shares of the software’s stock worth $99,494,000 after buying an additional 583,127 shares during the period. Finally, Ameriprise Financial Inc. boosted its stake in Altair Engineering by 22.8% in the 3rd quarter. Ameriprise Financial Inc. now owns 951,698 shares of the software’s stock worth $59,538,000 after buying an additional 176,780 shares during the last quarter. 63.38% of the stock is currently owned by hedge funds and other institutional investors.
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.
Featured Stories
- Five stocks we like better than Altair Engineering
- The Significance of a Trillion-Dollar Market Cap Goes Beyond a Number
- What’s Behind Walgreens Stock Plunge: What Investors Can Do Next
- Are Penny Stocks a Good Fit for Your Portfolio?
- MarketBeat Week in Review – 6/24 – 6/28
- What is the FTSE 100 index?
- General Mills Stock Drops After Revenue Miss in Fiscal Q4 2024
Receive News & Ratings for Altair Engineering Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Altair Engineering and related companies with MarketBeat.com's FREE daily email newsletter.