SG Americas Securities LLC Purchases Shares of 11,043 Altair Engineering Inc. (NASDAQ:ALTR)

SG Americas Securities LLC bought a new position in shares of Altair Engineering Inc. (NASDAQ:ALTR) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 11,043 shares of the software’s stock, valued at approximately $1,055,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its stake in Altair Engineering by 81.7% during the second quarter. GAMMA Investing LLC now owns 418 shares of the software’s stock worth $41,000 after purchasing an additional 188 shares during the last quarter. FSC Wealth Advisors LLC increased its stake in Altair Engineering by 41.3% in the second quarter. FSC Wealth Advisors LLC now owns 832 shares of the software’s stock valued at $82,000 after purchasing an additional 243 shares during the period. Van ECK Associates Corp raised its holdings in shares of Altair Engineering by 41.7% in the second quarter. Van ECK Associates Corp now owns 1,057 shares of the software’s stock valued at $104,000 after buying an additional 311 shares during the last quarter. Ballentine Partners LLC acquired a new stake in shares of Altair Engineering during the second quarter worth about $202,000. Finally, MQS Management LLC purchased a new position in shares of Altair Engineering during the first quarter worth about $203,000. Institutional investors and hedge funds own 63.38% of the company’s stock.

Insider Activity at Altair Engineering

In other Altair Engineering news, major shareholder George J. Christ sold 49,952 shares of Altair Engineering stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $95.72, for a total value of $4,781,405.44. Following the completion of the sale, the insider now owns 100,000 shares in the company, valued at $9,572,000. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, major shareholder George J. Christ sold 49,952 shares of the business’s stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $95.72, for a total value of $4,781,405.44. Following the completion of the sale, the insider now directly owns 100,000 shares in the company, valued at approximately $9,572,000. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Teresa A. Harris sold 620 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $82.57, for a total transaction of $51,193.40. Following the transaction, the director now directly owns 21,242 shares in the company, valued at approximately $1,753,951.94. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 160,360 shares of company stock worth $15,014,126. 21.75% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ALTR. The Goldman Sachs Group downgraded Altair Engineering from a “neutral” rating to a “sell” rating and cut their target price for the stock from $85.00 to $71.00 in a research note on Friday, August 2nd. Needham & Company LLC reiterated a “buy” rating and issued a $100.00 price objective on shares of Altair Engineering in a research note on Friday, August 2nd. Finally, JPMorgan Chase & Co. cut shares of Altair Engineering from an “overweight” rating to a “neutral” rating and set a $95.00 target price for the company. in a report on Monday, July 15th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $90.67.

Altair Engineering Stock Performance

Altair Engineering stock opened at $95.00 on Friday. The company has a market capitalization of $7.89 billion, a price-to-earnings ratio of 1,055.56, a PEG ratio of 12.01 and a beta of 1.45. The stock has a fifty day moving average of $90.18 and a two-hundred day moving average of $89.71. Altair Engineering Inc. has a fifty-two week low of $57.59 and a fifty-two week high of $101.39. The company has a debt-to-equity ratio of 0.29, a quick ratio of 3.14 and a current ratio of 3.14.

Altair Engineering (NASDAQ:ALTR) last issued its quarterly earnings results on Thursday, August 1st. The software reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.01. Altair Engineering had a net margin of 4.26% and a return on equity of 6.89%. The business had revenue of $148.80 million during the quarter, compared to the consensus estimate of $146.88 million. During the same period in the previous year, the firm posted ($0.15) earnings per share. The company’s quarterly revenue was up 5.4% compared to the same quarter last year. On average, analysts anticipate that Altair Engineering Inc. will post 0.65 EPS for the current fiscal year.

Altair Engineering 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.