Insider Selling: Altair Engineering Inc. (NASDAQ:ALTR) CAO Sells 182 Shares of Stock

Altair Engineering Inc. (NASDAQ:ALTR) CAO Brian Gayle sold 182 shares of the stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $111.30, for a total transaction of $20,256.60. Following the completion of the sale, the chief accounting officer now directly owns 18,008 shares of the company’s stock, valued at $2,004,290.40. This trade represents a 1.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Brian Gayle also recently made the following trade(s):

• On Monday, March 3rd, Brian Gayle sold 184 shares of Altair Engineering stock. The shares were sold at an average price of $111.45, for a total transaction of $20,506.80.
• On Wednesday, February 26th, Brian Gayle sold 137 shares of Altair Engineering stock. The stock was sold at an average price of $111.53, for a total transaction of $15,279.61.

Altair Engineering Stock Performance

Shares of ALTR stock traded up $0.10 during trading hours on Wednesday, hitting $111.54. 326,965 shares of the company were exchanged, compared to its average volume of 645,046. Altair Engineering Inc. has a one year low of $75.71 and a one year high of $113.12. The business’s 50-day simple moving average is $110.83 and its two-hundred day simple moving average is $104.25. The stock has a market capitalization of $9.57 billion, a price-to-earnings ratio of 656.06, a P/E/G ratio of 10.75 and a beta of 1.45.

Altair Engineering (NASDAQ:ALTR) last issued its quarterly earnings results on Thursday, February 20th. The software reported $0.36 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.15). Altair Engineering had a return on equity of 8.08% and a net margin of 2.13%. The company had revenue of $192.63 million for the quarter, compared to the consensus estimate of $182.98 million. As a group, analysts anticipate that Altair Engineering Inc. will post 0.87 EPS for the current fiscal year.

Hedge Funds Weigh In On Altair Engineering

A number of large investors have recently bought and sold shares of the business. California State Teachers Retirement System lifted its holdings in Altair Engineering by 2.5% in the fourth quarter. California State Teachers Retirement System now owns 55,226 shares of the software’s stock worth $6,026,000 after acquiring an additional 1,340 shares during the last quarter. Polar Asset Management Partners Inc. bought a new position in Altair Engineering in the fourth quarter worth about $5,456,000. GTS Securities LLC bought a new position in Altair Engineering in the fourth quarter worth about $201,000. BCK Capital Management LP bought a new position in Altair Engineering in the fourth quarter worth about $1,506,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Altair Engineering by 201.0% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 381,061 shares of the software’s stock worth $41,578,000 after acquiring an additional 254,448 shares during the last quarter. Institutional investors own 63.38% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.