Altair Engineering Inc. (NASDAQ:ALTR) Shares Sold by Bank of Montreal Can

Bank of Montreal Can trimmed its holdings in shares of Altair Engineering Inc. (NASDAQ:ALTR) by 99.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 21,900 shares of the software’s stock after selling 5,942,839 shares during the period. Bank of Montreal Can’s holdings in Altair Engineering were worth $2,155,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Wellington Management Group LLP increased its holdings in shares of Altair Engineering by 97.3% during the fourth quarter. Wellington Management Group LLP now owns 1,182,339 shares of the software’s stock valued at $99,494,000 after purchasing an additional 583,127 shares during the period. Russell Investments Group Ltd. boosted its stake in Altair Engineering by 5,564.8% during the first quarter. Russell Investments Group Ltd. now owns 31,043 shares of the software’s stock valued at $2,676,000 after buying an additional 30,495 shares in the last quarter. Bain Capital Public Equity LP bought a new position in Altair Engineering during the fourth quarter valued at about $6,376,000. Linden Thomas Advisory Services LLC bought a new position in Altair Engineering during the second quarter valued at about $629,000. Finally, Jane Street Group LLC boosted its stake in Altair Engineering by 960.2% during the first quarter. Jane Street Group LLC now owns 303,672 shares of the software’s stock valued at $26,161,000 after buying an additional 275,030 shares in the last quarter. 63.38% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Altair Engineering

In related news, major shareholder Christ Revocable Trust sold 50,048 shares of the business’s stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $95.07, for a total value of $4,758,063.36. Following the completion of the sale, the insider now owns 149,952 shares of the company’s stock, valued at approximately $14,255,936.64. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, Director Teresa A. Harris sold 620 shares of the business’s stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $97.73, for a total value of $60,592.60. Following the completion of the sale, the director now directly owns 21,242 shares in the company, valued at approximately $2,075,980.66. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Christ Revocable Trust sold 50,048 shares of the business’s stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $95.07, for a total value of $4,758,063.36. Following the completion of the sale, the insider now owns 149,952 shares of the company’s stock, valued at $14,255,936.64. The disclosure for this sale can be found here. In the last quarter, insiders sold 111,028 shares of company stock valued at $10,293,313. 21.75% of the stock is owned by corporate insiders.

Altair Engineering Trading Down 0.9 %

NASDAQ:ALTR opened at $93.94 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.14 and a quick ratio of 3.14. Altair Engineering Inc. has a fifty-two week low of $57.59 and a fifty-two week high of $101.39. The stock’s 50-day moving average is $89.27 and its two-hundred day moving average is $89.26. The stock has a market cap of $7.80 billion, a PE ratio of 1,040.33, a price-to-earnings-growth ratio of 12.01 and a beta of 1.45.

Altair Engineering (NASDAQ:ALTR) last released its earnings results on Thursday, August 1st. The software reported $0.16 earnings per share 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 quarter in the previous year, the business posted ($0.15) EPS. The business’s revenue for the quarter was up 5.4% on a year-over-year basis. As a group, equities research analysts forecast that Altair Engineering Inc. will post 0.65 earnings per share for the current fiscal year.

Analyst Ratings Changes

ALTR has been the subject of several research reports. Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 target price on shares of Altair Engineering in a research note on Friday, August 2nd. JPMorgan Chase & Co. lowered Altair Engineering from an “overweight” rating to a “neutral” rating and set a $95.00 price target for the company. in a research report on Monday, July 15th. Finally, The Goldman Sachs Group lowered Altair Engineering from a “neutral” rating to a “sell” rating and decreased their price target for the company from $85.00 to $71.00 in a research report on Friday, August 2nd. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $90.67.

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.