Victory Capital Management Inc. Lowers Position in Altair Engineering Inc. (NASDAQ:ALTR)

Victory Capital Management Inc. reduced its stake in Altair Engineering Inc. (NASDAQ:ALTR) by 95.8% during the 4th quarter, Holdings Channel reports. The institutional investor owned 16,488 shares of the software’s stock after selling 371,601 shares during the period. Victory Capital Management Inc.’s holdings in Altair Engineering were worth $1,799,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of ALTR. GAMMA Investing LLC raised its stake in shares of Altair Engineering by 14.6% in the 4th quarter. GAMMA Investing LLC now owns 729 shares of the software’s stock valued at $80,000 after acquiring an additional 93 shares during the period. Louisiana State Employees Retirement System raised its position in Altair Engineering by 0.6% in the fourth quarter. Louisiana State Employees Retirement System now owns 16,600 shares of the software’s stock valued at $1,811,000 after purchasing an additional 100 shares during the period. New York State Teachers Retirement System lifted its stake in Altair Engineering by 1.2% during the fourth quarter. New York State Teachers Retirement System now owns 8,600 shares of the software’s stock worth $938,000 after purchasing an additional 100 shares in the last quarter. State of Michigan Retirement System boosted its position in shares of Altair Engineering by 0.7% during the fourth quarter. State of Michigan Retirement System now owns 14,200 shares of the software’s stock worth $1,549,000 after buying an additional 100 shares during the period. Finally, UMB Bank n.a. grew its stake in shares of Altair Engineering by 77.0% in the fourth quarter. UMB Bank n.a. now owns 285 shares of the software’s stock valued at $31,000 after buying an additional 124 shares in the last quarter. Institutional investors and hedge funds own 63.38% of the company’s stock.

Altair Engineering Price Performance

ALTR opened at $111.42 on Tuesday. The business has a fifty day moving average price of $110.80 and a 200 day moving average price of $104.10. Altair Engineering Inc. has a 12 month low of $75.71 and a 12 month high of $113.12. The stock has a market capitalization of $9.56 billion, a price-to-earnings ratio of 655.41, a PEG ratio of 10.75 and a beta of 1.45.

Altair Engineering (NASDAQ:ALTR) last announced its quarterly earnings data on Thursday, February 20th. The software reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.15). The company had revenue of $192.63 million for the quarter, compared to analyst estimates of $182.98 million. Altair Engineering had a return on equity of 8.08% and a net margin of 2.13%. On average, research analysts anticipate that Altair Engineering Inc. will post 0.87 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on ALTR shares. Needham & Company LLC reissued a “hold” rating on shares of Altair Engineering in a research note on Friday, February 21st. Rosenblatt Securities reiterated a “neutral” rating and set a $113.00 price target on shares of Altair Engineering in a research note on Monday, February 24th. One investment analyst has rated the stock with a sell rating and seven have issued a hold rating to the stock. Based on data from MarketBeat.com, Altair Engineering has a consensus rating of “Hold” and a consensus price target of $100.83.

Insider Buying and Selling at Altair Engineering

In other news, CMO Amy Messano sold 235 shares of the stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $111.53, for a total value of $26,209.55. Following the transaction, the chief marketing officer now owns 23,651 shares in the company, valued at approximately $2,637,796.03. This represents a 0.98 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Teresa A. Harris sold 450 shares of the firm’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $111.08, for a total value of $49,986.00. Following the sale, the director now directly owns 18,092 shares in the company, valued at $2,009,659.36. This trade represents a 2.43 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 10,805 shares of company stock valued at $1,202,184. Insiders own 21.75% of the company’s stock.

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.