New York Life Investment Management LLC Has $8.33 Million Stock Holdings in Altair Engineering Inc. (NASDAQ:ALTR)

New York Life Investment Management LLC lifted its stake in shares of Altair Engineering Inc. (NASDAQ:ALTR) by 1,103.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 76,363 shares of the software’s stock after acquiring an additional 70,017 shares during the quarter. New York Life Investment Management LLC owned approximately 0.09% of Altair Engineering worth $8,332,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in ALTR. Creative Planning lifted its position in shares of Altair Engineering by 5.9% in the 3rd quarter. Creative Planning now owns 11,279 shares of the software’s stock worth $1,077,000 after purchasing an additional 631 shares during the period. Blue Trust Inc. lifted its holdings in Altair Engineering by 572.1% in the third quarter. Blue Trust Inc. now owns 289 shares of the software’s stock valued at $28,000 after buying an additional 246 shares during the period. Private Advisor Group LLC bought a new stake in Altair Engineering during the third quarter valued at $208,000. Louisiana State Employees Retirement System grew its holdings in Altair Engineering by 2.5% during the 3rd quarter. Louisiana State Employees Retirement System now owns 16,500 shares of the software’s stock worth $1,576,000 after acquiring an additional 400 shares during the period. Finally, State of Alaska Department of Revenue raised its position in shares of Altair Engineering by 11.5% in the 3rd quarter. State of Alaska Department of Revenue now owns 6,900 shares of the software’s stock worth $659,000 after acquiring an additional 710 shares in the last quarter. 63.38% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Altair Engineering

In other news, CRO Nelson Dias sold 373 shares of the firm’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $111.53, for a total value of $41,600.69. Following the transaction, the executive now owns 57,573 shares in the company, valued at $6,421,116.69. This trade represents a 0.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CMO Amy Messano sold 235 shares of the company’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $111.53, for a total value of $26,209.55. Following the sale, the chief marketing officer now owns 23,651 shares of the company’s stock, valued at $2,637,796.03. This trade represents a 0.98 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 47,019 shares of company stock worth $5,027,600. Insiders own 21.75% of the company’s stock.

Altair Engineering Trading Down 0.1 %

NASDAQ ALTR opened at $111.49 on Friday. The company has a market cap of $9.49 billion, a P/E ratio of 655.82, a PEG ratio of 10.75 and a beta of 1.42. The company has a fifty day simple moving average of $110.29 and a 200 day simple moving average of $102.10. Altair Engineering Inc. has a 12-month low of $75.71 and a 12-month high of $113.12.

Altair Engineering (NASDAQ:ALTR) last issued its quarterly earnings data 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). Altair Engineering had a net margin of 2.13% and a return on equity of 8.08%. The business had revenue of $192.63 million for the quarter, compared to analyst estimates of $182.98 million. Sell-side analysts predict that Altair Engineering Inc. will post 0.87 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. William Blair restated a “market perform” rating on shares of Altair Engineering in a research report on Thursday, October 31st. Royal Bank of Canada raised their price objective on shares of Altair Engineering from $90.00 to $113.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 31st. Needham & Company LLC reiterated a “hold” rating on shares of Altair Engineering in a research note on Friday, February 21st. Loop Capital reissued a “hold” rating and set a $113.00 target price on shares of Altair Engineering in a research note on Thursday, October 31st. Finally, Rosenblatt Securities reaffirmed a “neutral” rating and issued a $113.00 price target on shares of Altair Engineering in a research note on Monday. One analyst has rated the stock with a sell rating and seven have given a hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $100.83.

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.