Congress Wealth Management LLC DE Sells 450 Shares of Altair Engineering Inc. (NASDAQ:ALTR)

Congress Wealth Management LLC DE decreased its position in Altair Engineering Inc. (NASDAQ:ALTR) by 15.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,502 shares of the software’s stock after selling 450 shares during the period. Congress Wealth Management LLC DE’s holdings in Altair Engineering were worth $273,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in ALTR. Vanguard Group Inc. increased its holdings in shares of Altair Engineering by 4.8% in the fourth quarter. Vanguard Group Inc. now owns 6,894,230 shares of the software’s stock worth $752,229,000 after acquiring an additional 317,575 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of Altair Engineering in the 4th quarter valued at approximately $1,342,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in shares of Altair Engineering by 382.5% in the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 63,202 shares of the software’s stock valued at $6,896,000 after purchasing an additional 50,102 shares during the period. Magnetar Financial LLC acquired a new stake in Altair Engineering during the 4th quarter worth approximately $62,142,000. Finally, Harvest Fund Management Co. Ltd lifted its stake in Altair Engineering by 495.9% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 7,079 shares of the software’s stock valued at $743,000 after buying an additional 5,891 shares in the last quarter. Institutional investors and hedge funds own 63.38% of the company’s stock.

Altair Engineering Stock Performance

Altair Engineering stock opened at $111.85 on Friday. Altair Engineering Inc. has a 1-year low of $75.71 and a 1-year high of $113.12. The company has a fifty day simple moving average of $111.09 and a 200 day simple moving average of $105.53. The company has a market cap of $9.60 billion, a P/E ratio of 657.94, a price-to-earnings-growth ratio of 10.75 and a beta of 1.45.

Altair Engineering (NASDAQ:ALTR) last announced its quarterly earnings data on Thursday, February 20th. The software reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.15). Altair Engineering had a net margin of 2.13% and a return on equity of 8.08%. The company had revenue of $192.63 million during the quarter, compared to the consensus estimate of $182.98 million. On average, equities research analysts forecast that Altair Engineering Inc. will post 0.87 EPS for the current year.

Insider Transactions at Altair Engineering

In other Altair Engineering news, Director Teresa A. Harris sold 2,700 shares of the company’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $111.61, for a total value of $301,347.00. Following the sale, the director now owns 18,542 shares in the company, valued at $2,069,472.62. This represents a 12.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CMO Amy Messano sold 235 shares of Altair Engineering 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 $26,209.55. Following the transaction, the chief marketing officer now owns 23,651 shares of the company’s stock, valued at $2,637,796.03. This represents a 0.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 12,172 shares of company stock worth $1,356,847 in the last 90 days. Corporate insiders own 21.75% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Needham & Company LLC reissued a “hold” rating on shares of Altair Engineering in a research report on Friday, February 21st. Rosenblatt Securities reiterated a “neutral” rating and set a $113.00 target price on shares of Altair Engineering in a report on Monday, February 24th. One research analyst has rated the stock with a sell rating and seven have issued a hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target 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.