Altair Engineering Inc. (NASDAQ:ALTR) Given Average Rating of “Reduce” by Analysts

Altair Engineering Inc. (NASDAQ:ALTR) has received an average recommendation of “Reduce” from the eight ratings firms that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation and seven have issued a hold recommendation on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $100.83.

ALTR has been the topic of a number of recent analyst reports. Rosenblatt Securities reaffirmed a “neutral” rating and set a $113.00 price target on shares of Altair Engineering in a report on Monday, February 24th. Needham & Company LLC restated a “hold” rating on shares of Altair Engineering in a research note on Friday, February 21st.

Altair Engineering Stock Performance

Shares of ALTR stock opened at $111.75 on Tuesday. The stock has a market capitalization of $9.59 billion, a price-to-earnings ratio of 657.35, a PEG ratio of 10.75 and a beta of 1.45. Altair Engineering has a one year low of $75.71 and a one year high of $113.12. The company’s 50-day simple moving average is $110.91 and its 200-day simple moving average is $104.62.

Altair Engineering (NASDAQ:ALTR) last posted its quarterly earnings results on Thursday, February 20th. The software reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.15). The business had revenue of $192.63 million during the quarter, compared to the consensus estimate of $182.98 million. Altair Engineering had a return on equity of 8.08% and a net margin of 2.13%. As a group, research analysts forecast that Altair Engineering will post 0.87 EPS for the current year.

Insider Buying and Selling at Altair Engineering

In other news, CFO Matthew Charles Brown sold 1,048 shares of the firm’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $108.90, for a total value of $114,127.20. Following the sale, the chief financial officer now directly owns 55,519 shares of the company’s stock, valued at approximately $6,046,019.10. This trade represents a 1.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Teresa A. Harris sold 2,700 shares of the firm’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $111.61, for a total value of $301,347.00. Following the completion of the sale, the director now directly owns 18,542 shares in the company, valued at $2,069,472.62. This trade represents a 12.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 13,220 shares of company stock worth $1,470,974 over the last 90 days. 21.75% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Altair Engineering

Several large investors have recently bought and sold shares of the stock. NBT Bank N A NY raised its position in shares of Altair Engineering by 76.4% during the fourth quarter. NBT Bank N A NY now owns 247 shares of the software’s stock valued at $27,000 after buying an additional 107 shares during the last quarter. UMB Bank n.a. raised its holdings in Altair Engineering by 77.0% in the 4th quarter. UMB Bank n.a. now owns 285 shares of the software’s stock valued at $31,000 after acquiring an additional 124 shares in the last quarter. Johnson Financial Group Inc. bought a new stake in shares of Altair Engineering in the 4th quarter worth approximately $37,000. GAMMA Investing LLC lifted its position in shares of Altair Engineering by 14.6% in the 4th quarter. GAMMA Investing LLC now owns 729 shares of the software’s stock worth $80,000 after acquiring an additional 93 shares during the period. Finally, Blue Trust Inc. grew its holdings in shares of Altair Engineering by 185.5% during the 4th quarter. Blue Trust Inc. now owns 825 shares of the software’s stock worth $90,000 after purchasing an additional 536 shares in the last quarter. 63.38% of the stock is currently owned by institutional investors and hedge funds.

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.