Xponance Inc. Grows Stake in Altair Engineering Inc. (NASDAQ:ALTR)

Xponance Inc. increased its holdings in Altair Engineering Inc. (NASDAQ:ALTR) by 1.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,079 shares of the software’s stock after purchasing an additional 149 shares during the period. Xponance Inc.’s holdings in Altair Engineering were worth $882,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ALTR. NBT Bank N A NY boosted 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 worth $27,000 after acquiring an additional 107 shares during the last quarter. UMB Bank n.a. lifted its stake in Altair Engineering by 77.0% in the 4th quarter. UMB Bank n.a. now owns 285 shares of the software’s stock worth $31,000 after purchasing an additional 124 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of Altair Engineering by 14.6% during the 4th quarter. GAMMA Investing LLC now owns 729 shares of the software’s stock valued at $80,000 after purchasing an additional 93 shares during the last quarter. Blue Trust Inc. grew its position in shares of Altair Engineering by 185.5% during the fourth quarter. Blue Trust Inc. now owns 825 shares of the software’s stock valued at $90,000 after purchasing an additional 536 shares in the last quarter. Finally, IFP Advisors Inc bought a new stake in shares of Altair Engineering in the fourth quarter worth about $185,000. 63.38% of the stock is currently owned by institutional investors.

Altair Engineering Stock Down 0.1 %

NASDAQ ALTR opened at $111.69 on Tuesday. The company has a fifty day moving average of $110.94 and a two-hundred day moving average of $104.93. The firm has a market capitalization of $9.58 billion, a price-to-earnings ratio of 657.00, a PEG ratio of 10.75 and a beta of 1.45. Altair Engineering Inc. has a 52 week low of $75.71 and a 52 week high of $113.12.

Altair Engineering (NASDAQ:ALTR) last released its earnings results on Thursday, February 20th. The software reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.15). The firm 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%. Equities research analysts anticipate that Altair Engineering Inc. will post 0.87 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have weighed in on ALTR shares. Needham & Company LLC restated a “hold” rating on shares of Altair Engineering in a report on Friday, February 21st. Rosenblatt Securities restated a “neutral” rating and issued a $113.00 price target on shares of Altair Engineering in a research report on Monday, February 24th. One research analyst has rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $100.83.

Insider Buying and Selling at Altair Engineering

In related news, Director Teresa A. Harris sold 450 shares of the firm’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $111.08, for a total value of $49,986.00. Following the transaction, the director now owns 18,092 shares of the company’s stock, valued at $2,009,659.36. This trade represents a 2.43 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CMO Amy Messano sold 235 shares of the business’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $111.53, for a total transaction of $26,209.55. Following the completion of the sale, the chief marketing officer now directly owns 23,651 shares of the company’s stock, valued at approximately $2,637,796.03. This trade represents a 0.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 12,172 shares of company stock worth $1,356,847 over the last 90 days. Company 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.