Altair Engineering Inc. (NASDAQ:ALTR) Given Average Rating of “Reduce” by Brokerages

Shares of Altair Engineering Inc. (NASDAQ:ALTR) have been assigned an average recommendation of “Reduce” from the eight analysts that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation and seven have assigned a hold recommendation to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $100.83.

ALTR has been the topic of several recent research reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Altair Engineering in a report on Friday, February 21st. Rosenblatt Securities reaffirmed a “neutral” rating and set a $113.00 price target on shares of Altair Engineering in a research note on Monday, February 24th.

Insider Buying and Selling

In related news, CMO Amy Messano sold 416 shares of the company’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $111.30, for a total value of $46,300.80. Following the completion of the sale, the chief marketing officer now directly owns 22,980 shares of the company’s stock, valued at $2,557,674. This represents a 1.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Teresa A. Harris sold 450 shares of the firm’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $111.08, for a total transaction of $49,986.00. Following the transaction, the director now directly owns 18,092 shares in the company, valued at $2,009,659.36. This trade represents a 2.43 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 12,172 shares of company stock valued at $1,356,847 in the last 90 days. Company insiders own 21.75% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in ALTR. NBT Bank N A NY boosted its position in Altair Engineering by 76.4% during the fourth quarter. NBT Bank N A NY now owns 247 shares of the software’s stock valued at $27,000 after purchasing an additional 107 shares in the last quarter. UMB Bank n.a. grew its holdings in Altair Engineering by 77.0% in the fourth quarter. UMB Bank n.a. now owns 285 shares of the software’s stock worth $31,000 after purchasing an additional 124 shares during the last quarter. Johnson Financial Group Inc. acquired a new position in shares of Altair Engineering during the fourth quarter worth $37,000. GAMMA Investing LLC lifted its holdings in shares of Altair Engineering by 14.6% during the 4th quarter. GAMMA Investing LLC now owns 729 shares of the software’s stock valued at $80,000 after purchasing an additional 93 shares during the last quarter. Finally, Blue Trust Inc. boosted its position in shares of Altair Engineering by 185.5% in the 4th quarter. Blue Trust Inc. now owns 825 shares of the software’s stock worth $90,000 after purchasing an additional 536 shares in the last quarter. 63.38% of the stock is currently owned by hedge funds and other institutional investors.

Altair Engineering Stock Down 0.1 %

ALTR stock opened at $111.69 on Tuesday. The business’s 50-day moving average price is $110.94 and its 200-day moving average price is $104.93. The stock has a market cap of $9.58 billion, a P/E ratio of 657.00, a PEG ratio of 10.75 and a beta of 1.45. Altair Engineering has a twelve month low of $75.71 and a twelve month high of $113.12.

Altair Engineering (NASDAQ:ALTR) last announced its quarterly earnings data on Thursday, February 20th. The software reported $0.36 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 the consensus estimate of $182.98 million. Altair Engineering had a net margin of 2.13% and a return on equity of 8.08%. On average, equities research analysts expect that Altair Engineering will post 0.87 earnings per share for the current fiscal year.

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.