AlphaQuest LLC Cuts Stock Holdings in Altair Engineering Inc. (NASDAQ:ALTR)

AlphaQuest LLC lessened its holdings in Altair Engineering Inc. (NASDAQ:ALTR) by 63.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,364 shares of the software’s stock after selling 4,095 shares during the quarter. AlphaQuest LLC’s holdings in Altair Engineering were worth $258,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. UMB Bank n.a. boosted 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. GAMMA Investing LLC boosted its position in shares of Altair Engineering by 14.6% during the 4th quarter. GAMMA Investing LLC now owns 729 shares of the software’s stock worth $80,000 after purchasing an additional 93 shares in the last quarter. Blue Trust Inc. grew its stake 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 during the period. KBC Group NV increased its holdings in shares of Altair Engineering by 17.9% in the 3rd quarter. KBC Group NV now owns 1,640 shares of the software’s stock valued at $157,000 after purchasing an additional 249 shares in the last quarter. Finally, IFP Advisors Inc acquired a new stake in shares of Altair Engineering in the fourth quarter valued at about $185,000. Institutional investors and hedge funds own 63.38% of the company’s stock.

Insiders Place Their Bets

In other news, Director Teresa A. Harris sold 450 shares of Altair Engineering stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $111.08, for a total value of $49,986.00. Following the completion of the sale, the director now owns 18,092 shares of the company’s stock, valued at $2,009,659.36. The trade was a 2.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Matthew Charles Brown sold 1,048 shares of the 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 transaction, the chief financial officer now owns 55,519 shares in the company, valued at $6,046,019.10. This trade represents a 1.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 10,805 shares of company stock valued at $1,202,184. Company insiders own 21.75% of the company’s stock.

Altair Engineering Stock Up 0.2 %

Shares of NASDAQ:ALTR opened at $111.35 on Friday. The company has a market capitalization of $9.55 billion, a P/E ratio of 655.00, a P/E/G ratio of 10.75 and a beta of 1.45. The stock’s fifty day simple moving average is $110.77 and its 200-day simple moving average is $103.84. 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 quarterly 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 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, sell-side analysts anticipate that Altair Engineering Inc. will post 0.87 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $113.00 target price on shares of Altair Engineering in a report on Monday, February 24th. Needham & Company LLC reaffirmed a “hold” rating on shares of Altair Engineering in a research note on Friday, February 21st. One equities research analyst has rated the stock with a sell rating and seven have given a hold rating to the stock. According to MarketBeat.com, Altair Engineering presently has an average rating of “Hold” and a consensus target price of $100.83.

Altair Engineering 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.