Select Equity Group L.P. Buys 495 Shares of Altair Engineering Inc. (NASDAQ:ALTR)

Select Equity Group L.P. boosted its position in Altair Engineering Inc. (NASDAQ:ALTR) by 2.3% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 21,789 shares of the software’s stock after purchasing an additional 495 shares during the quarter. Select Equity Group L.P.’s holdings in Altair Engineering were worth $2,137,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. GAMMA Investing LLC raised its stake in shares of Altair Engineering by 81.7% during the 2nd quarter. GAMMA Investing LLC now owns 418 shares of the software’s stock worth $41,000 after acquiring an additional 188 shares in the last quarter. FSC Wealth Advisors LLC increased its position in shares of Altair Engineering by 41.3% during the second quarter. FSC Wealth Advisors LLC now owns 832 shares of the software’s stock worth $82,000 after purchasing an additional 243 shares in the last quarter. Van ECK Associates Corp lifted its holdings in shares of Altair Engineering by 41.7% during the 2nd quarter. Van ECK Associates Corp now owns 1,057 shares of the software’s stock valued at $104,000 after purchasing an additional 311 shares during the last quarter. Natixis Investment Managers International boosted its position in shares of Altair Engineering by 68.7% in the 4th quarter. Natixis Investment Managers International now owns 1,940 shares of the software’s stock worth $163,000 after purchasing an additional 790 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new position in Altair Engineering during the 1st quarter worth $177,000. 63.38% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have commented on ALTR. JPMorgan Chase & Co. cut Altair Engineering from an “overweight” rating to a “neutral” rating and set a $95.00 price target for the company. in a research note on Monday, July 15th. Needham & Company LLC restated a “buy” rating and set a $100.00 price objective on shares of Altair Engineering in a report on Friday, August 2nd. Finally, The Goldman Sachs Group cut shares of Altair Engineering from a “neutral” rating to a “sell” rating and lowered their target price for the stock from $85.00 to $71.00 in a research note on Friday, August 2nd. One research 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. Based on data from MarketBeat, Altair Engineering currently has an average rating of “Hold” and a consensus price target of $90.67.

Insider Activity at Altair Engineering

In other Altair Engineering news, Director Teresa A. Harris sold 620 shares of the stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $97.73, for a total transaction of $60,592.60. Following the sale, the director now directly owns 21,242 shares of the company’s stock, valued at approximately $2,075,980.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO James Ralph Scapa sold 13,000 shares of the firm’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $89.04, for a total transaction of $1,157,520.00. Following the sale, the chief executive officer now owns 134,045 shares in the company, valued at $11,935,366.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Teresa A. Harris sold 620 shares of the company’s stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $97.73, for a total transaction of $60,592.60. Following the completion of the transaction, the director now owns 21,242 shares of the company’s stock, valued at approximately $2,075,980.66. The disclosure for this sale can be found here. Insiders sold 40,860 shares of company stock worth $3,621,825 over the last three months. Company insiders own 21.75% of the company’s stock.

Altair Engineering Trading Down 0.2 %

Shares of NASDAQ:ALTR opened at $94.87 on Friday. The company has a quick ratio of 3.14, a current ratio of 3.14 and a debt-to-equity ratio of 0.29. Altair Engineering Inc. has a 52-week low of $57.59 and a 52-week high of $101.39. The stock has a market cap of $7.88 billion, a price-to-earnings ratio of 1,054.11, a PEG ratio of 12.01 and a beta of 1.45. The business has a 50-day moving average price of $89.05 and a 200-day moving average price of $88.94.

Altair Engineering (NASDAQ:ALTR) last announced its quarterly earnings data on Thursday, August 1st. The software reported $0.16 EPS for the quarter, beating the consensus estimate of $0.15 by $0.01. The business had revenue of $148.80 million during the quarter, compared to analysts’ expectations of $146.88 million. Altair Engineering had a net margin of 4.26% and a return on equity of 6.89%. The business’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.15) EPS. Equities analysts predict that Altair Engineering Inc. will post 0.65 EPS for the current year.

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.