Mutual of America Capital Management LLC Has $6.41 Million Stock Position in Altair Engineering Inc. (NASDAQ:ALTR)

Mutual of America Capital Management LLC boosted its position in Altair Engineering Inc. (NASDAQ:ALTR) by 91.2% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 65,381 shares of the software’s stock after acquiring an additional 31,186 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Altair Engineering were worth $6,413,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently bought and sold shares of the company. William Blair Investment Management LLC bought a new stake in Altair Engineering during the second quarter valued at about $91,589,000. Matrix Capital Management Company LP boosted its stake in Altair Engineering by 8.3% during the 4th quarter. Matrix Capital Management Company LP now owns 12,233,174 shares of the software’s stock valued at $1,029,422,000 after purchasing an additional 932,717 shares during the period. Bain Capital Public Equity Management II LLC acquired a new stake in Altair Engineering in the 4th quarter valued at approximately $57,728,000. Wellington Management Group LLP increased its position in Altair Engineering by 97.3% in the 4th quarter. Wellington Management Group LLP now owns 1,182,339 shares of the software’s stock worth $99,494,000 after buying an additional 583,127 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Altair Engineering by 121.7% during the second quarter. Bank of New York Mellon Corp now owns 569,109 shares of the software’s stock worth $55,818,000 after buying an additional 312,448 shares during the last quarter. Institutional investors own 63.38% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Altair Engineering Stock Up 2.4 %

Shares of ALTR stock opened at $95.13 on Friday. Altair Engineering Inc. has a one year low of $57.59 and a one year high of $101.39. 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 stock has a fifty day moving average price of $89.19 and a 200 day moving average price of $88.42. The stock has a market cap of $7.90 billion, a P/E ratio of 1,054.67, a price-to-earnings-growth ratio of 10.94 and a beta of 1.45.

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

Insider Activity

In related news, major shareholder George J. Christ sold 100,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $98.40, for a total transaction of $9,840,000.00. Following the completion of the transaction, the insider now owns 200,000 shares in the company, valued at approximately $19,680,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Altair Engineering news, major shareholder George J. Christ sold 100,000 shares of the stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $98.40, for a total transaction of $9,840,000.00. Following the completion of the transaction, the insider now directly owns 200,000 shares in the company, valued at $19,680,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Teresa A. Harris sold 620 shares of the business’s stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $97.73, for a total transaction of $60,592.60. Following the completion of the sale, the director now owns 21,242 shares in the company, valued at approximately $2,075,980.66. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 153,860 shares of company stock worth $14,739,205. Company insiders own 21.75% of the company’s stock.

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.