Altair Engineering Inc. (NASDAQ:ALTR) Shares Bought by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System grew its holdings in Altair Engineering Inc. (NASDAQ:ALTR) by 2.5% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 16,500 shares of the software’s stock after buying an additional 400 shares during the period. Louisiana State Employees Retirement System’s holdings in Altair Engineering were worth $1,576,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of ALTR. Principal Financial Group Inc. raised its position in shares of Altair Engineering by 288.6% in the first quarter. Principal Financial Group Inc. now owns 24,357 shares of the software’s stock valued at $2,098,000 after buying an additional 18,089 shares during the last quarter. Daiwa Securities Group Inc. acquired a new stake in shares of Altair Engineering in the first quarter valued at about $1,465,000. GSA Capital Partners LLP raised its position in shares of Altair Engineering by 355.9% in the first quarter. GSA Capital Partners LLP now owns 24,852 shares of the software’s stock valued at $2,141,000 after buying an additional 19,401 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of Altair Engineering in the first quarter valued at about $177,000. Finally, Swiss National Bank raised its position in shares of Altair Engineering by 1.2% in the first quarter. Swiss National Bank now owns 107,800 shares of the software’s stock valued at $9,287,000 after buying an additional 1,300 shares during the last quarter. 63.38% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently commented on ALTR shares. William Blair reiterated a “market perform” rating on shares of Altair Engineering in a research report on Thursday. Loop Capital reissued a “hold” rating and issued a $113.00 price objective on shares of Altair Engineering in a report on Thursday. Royal Bank of Canada upped their price objective on shares of Altair Engineering from $90.00 to $113.00 and gave the company a “sector perform” rating in a report on Thursday. Rosenblatt Securities upped their price objective on shares of Altair Engineering from $88.00 to $113.00 and gave the company a “neutral” rating in a report on Thursday. Finally, Needham & Company LLC reissued a “hold” rating and issued a $100.00 price objective on shares of Altair Engineering in a report on Thursday. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $100.71.

Insider Activity

In other news, major shareholder Jrs Investments Llc sold 6,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $89.04, for a total value of $578,760.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Teresa A. Harris sold 620 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $82.57, for a total value of $51,193.40. Following the completion of the transaction, the director now owns 21,242 shares of the company’s stock, valued at approximately $1,753,951.94. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Jrs Investments Llc sold 6,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $89.04, for a total transaction of $578,760.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 360,360 shares of company stock valued at $35,476,660. 21.75% of the stock is currently owned by company insiders.

Altair Engineering Trading Down 4.3 %

Shares of ALTR stock opened at $103.99 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. The firm has a market cap of $8.63 billion, a PE ratio of 1,155.44, a price-to-earnings-growth ratio of 12.15 and a beta of 1.45. The company has a 50-day moving average of $94.03 and a two-hundred day moving average of $91.38. Altair Engineering Inc. has a 1-year low of $57.59 and a 1-year high of $113.12.

Altair Engineering (NASDAQ:ALTR) last announced its earnings results on Wednesday, October 30th. The software reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.07. Altair Engineering had a net margin of 4.26% and a return on equity of 6.89%. The company had revenue of $151.45 million during the quarter, compared to analyst estimates of $146.55 million. On average, 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.