Altair Engineering’s (ALTR) “Market Perform” Rating Reiterated at William Blair

William Blair restated their market perform rating on shares of Altair Engineering (NASDAQ:ALTR) in a research report released on Thursday, MarketBeat Ratings reports.

A number of other research firms have also weighed in on ALTR. JPMorgan Chase & Co. lowered shares of Altair Engineering from an “overweight” rating to a “neutral” rating and set a $95.00 price target on the stock. in a research report on Monday, July 15th. Royal Bank of Canada restated a “sector perform” rating and set a $90.00 target price on shares of Altair Engineering in a report on Wednesday, October 23rd. The Goldman Sachs Group cut Altair Engineering from a “neutral” rating to a “sell” rating and cut their price target for the company from $85.00 to $71.00 in a report on Friday, August 2nd. Rosenblatt Securities boosted their price objective on Altair Engineering from $88.00 to $113.00 and gave the stock a “neutral” rating in a research note on Thursday. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $100.00 target price on shares of Altair Engineering in a research note on Friday, August 2nd. 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. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $100.71.

Altair Engineering Stock Performance

NASDAQ ALTR opened at $104.00 on Thursday. 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’s 50 day simple moving average is $94.30 and its 200-day simple moving average is $91.54. The company has a market cap of $8.83 billion, a PE ratio of 273.68, a price-to-earnings-growth ratio of 13.87 and a beta of 1.45. Altair Engineering has a 1-year low of $57.59 and a 1-year high of $113.12.

Altair Engineering (NASDAQ:ALTR) last announced its quarterly earnings data on Thursday, August 1st. The software reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.01. Altair Engineering had a return on equity of 7.70% and a net margin of 5.10%. The company had revenue of $148.80 million for the quarter, compared to analyst estimates of $146.88 million. During the same quarter last year, the firm posted ($0.15) EPS. The firm’s revenue for the quarter was up 5.4% on a year-over-year basis. As a group, equities research analysts anticipate that Altair Engineering will post 0.65 EPS for the current fiscal year.

Insider Buying and Selling at Altair Engineering

In other news, major shareholder Christ Revocable Trust sold 100,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $106.57, for a total value of $10,657,000.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CEO James Ralph Scapa sold 13,000 shares of the stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $102.59, for a total transaction of $1,333,670.00. Following the transaction, the chief executive officer now owns 134,045 shares of the company’s stock, valued at approximately $13,751,676.55. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Christ Revocable Trust sold 100,000 shares of Altair Engineering stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $106.57, for a total value of $10,657,000.00. The disclosure for this sale can be found here. Insiders have sold 360,360 shares of company stock valued at $35,476,660 over the last 90 days. 21.75% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC lifted its holdings in Altair Engineering by 52.2% during the 3rd quarter. GAMMA Investing LLC now owns 636 shares of the software’s stock worth $61,000 after buying an additional 218 shares in the last quarter. Russell Investments Group Ltd. raised its stake in shares of Altair Engineering by 5,564.8% in the first quarter. Russell Investments Group Ltd. now owns 31,043 shares of the software’s stock valued at $2,676,000 after acquiring an additional 30,495 shares in the last quarter. Moody Aldrich Partners LLC raised its stake in shares of Altair Engineering by 15.2% in the third quarter. Moody Aldrich Partners LLC now owns 75,233 shares of the software’s stock valued at $7,186,000 after acquiring an additional 9,907 shares in the last quarter. Linden Thomas Advisory Services LLC purchased a new stake in Altair Engineering during the 2nd quarter worth about $629,000. Finally, Jane Street Group LLC raised its position in Altair Engineering by 960.2% in the 1st quarter. Jane Street Group LLC now owns 303,672 shares of the software’s stock valued at $26,161,000 after purchasing an additional 275,030 shares in the last quarter. Hedge funds and other institutional investors own 63.38% 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.