Altair Engineering Inc. (NASDAQ:ALTR) Stock Position Lifted by Amalgamated Bank

Amalgamated Bank grew its position in shares of Altair Engineering Inc. (NASDAQ:ALTR) by 1,378.0% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 27,594 shares of the software’s stock after buying an additional 25,727 shares during the period. Amalgamated Bank’s holdings in Altair Engineering were worth $2,706,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the company. Dimensional Fund Advisors LP lifted its holdings in shares of Altair Engineering by 2.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 470,907 shares of the software’s stock worth $39,627,000 after purchasing an additional 9,714 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Altair Engineering by 11.6% in the 4th quarter. Principal Financial Group Inc. now owns 6,268 shares of the software’s stock worth $527,000 after purchasing an additional 653 shares during the last quarter. Norges Bank bought a new stake in shares of Altair Engineering in the 4th quarter worth approximately $8,041,000. TD Asset Management Inc bought a new stake in shares of Altair Engineering in the 4th quarter worth approximately $2,255,000. Finally, Olympiad Research LP bought a new stake in shares of Altair Engineering in the 4th quarter worth approximately $290,000. Institutional investors own 63.38% of the company’s stock.

Altair Engineering Stock Down 0.4 %

ALTR opened at $93.71 on Wednesday. Altair Engineering Inc. has a 12 month low of $57.59 and a 12 month high of $101.39. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.14 and a quick ratio of 3.14. The stock has a market cap of $7.78 billion, a P/E ratio of 1,041.22, a P/E/G ratio of 10.94 and a beta of 1.45. The stock’s 50 day moving average price is $88.86 and its 200 day moving average price is $88.77.

Altair Engineering (NASDAQ:ALTR) last issued its quarterly earnings results on Thursday, August 1st. The software reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.01. Altair Engineering had a return on equity of 6.89% and a net margin of 4.26%. The company had revenue of $148.80 million for the quarter, compared to analysts’ expectations of $146.88 million. During the same period last year, the firm earned ($0.15) EPS. The firm’s revenue for the quarter was up 5.4% on a year-over-year basis. As a group, research analysts predict that Altair Engineering Inc. will post 0.65 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. JPMorgan Chase & Co. downgraded Altair Engineering from an “overweight” rating to a “neutral” rating and set a $95.00 price target on the stock. in a report on Monday, July 15th. The Goldman Sachs Group cut 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 report on Friday, August 2nd. Finally, Needham & Company LLC restated a “buy” rating and issued a $100.00 target price on shares of Altair Engineering in a research report on Friday, August 2nd. One analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Altair Engineering presently has a consensus rating of “Hold” and an average price target of $90.67.

Insider Activity

In other news, major shareholder George J. Christ sold 100,000 shares of Altair Engineering stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $98.40, for a total transaction of $9,840,000.00. Following the transaction, the insider now directly owns 200,000 shares in the company, valued at approximately $19,680,000. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CEO James Ralph Scapa sold 13,000 shares of Altair Engineering stock in a transaction on Friday, June 28th. The stock was sold at an average price of $98.26, for a total value of $1,277,380.00. Following the transaction, the chief executive officer now directly owns 134,045 shares in the company, valued at approximately $13,171,261.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder George J. Christ sold 100,000 shares of the company’s stock in a transaction 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 sale, the insider now directly owns 200,000 shares of the company’s stock, valued at $19,680,000. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 153,860 shares of company stock worth $14,739,205. 21.75% of the stock is owned by company 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.