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

AlphaQuest LLC trimmed its position in Altair Engineering Inc. (NASDAQ:ALTR) by 63.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund 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 SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in ALTR. UMB Bank n.a. lifted its stake in Altair Engineering by 77.0% during 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 in the last quarter. GAMMA Investing LLC lifted its stake in 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 acquiring an additional 93 shares in the last quarter. Blue Trust Inc. boosted its holdings in Altair Engineering by 185.5% during the 4th quarter. Blue Trust Inc. now owns 825 shares of the software’s stock valued at $90,000 after acquiring an additional 536 shares during the period. KBC Group NV grew its position in 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 acquiring an additional 249 shares in the last quarter. Finally, IFP Advisors Inc purchased a new stake in Altair Engineering during the fourth quarter worth about $185,000. Institutional investors and hedge funds own 63.38% of the company’s stock.

Insider Activity at Altair Engineering

In other news, CMO Amy Messano sold 235 shares of Altair Engineering stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $111.53, for a total transaction of $26,209.55. Following the sale, the chief marketing officer now owns 23,651 shares in the company, valued at approximately $2,637,796.03. The trade was a 0.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Teresa A. Harris sold 2,700 shares of the company’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $111.61, for a total value of $301,347.00. Following the completion of the sale, the director now directly owns 18,542 shares of the company’s stock, valued at approximately $2,069,472.62. This trade represents a 12.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 10,805 shares of company stock valued at $1,202,184 over the last ninety days. Insiders own 21.75% of the company’s stock.

Altair Engineering Stock Performance

ALTR opened at $111.35 on Friday. Altair Engineering Inc. has a one year low of $75.71 and a one year high of $113.12. The company has a market cap of $9.55 billion, a P/E ratio of 655.00, a PEG ratio of 10.75 and a beta of 1.45. The business’s 50-day simple moving average is $110.77 and its 200-day simple moving average is $103.84.

Altair Engineering (NASDAQ:ALTR) last announced 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). The company had revenue of $192.63 million during the quarter, compared to analysts’ expectations of $182.98 million. Altair Engineering had a net margin of 2.13% and a return on equity of 8.08%. As a group, analysts predict that Altair Engineering Inc. will post 0.87 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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