Altair Engineering Inc. (NASDAQ:ALTR) Receives Consensus Recommendation of “Reduce” from Brokerages

Shares of Altair Engineering Inc. (NASDAQ:ALTR) have earned a consensus rating of “Reduce” from the eight brokerages that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation and seven have given a hold recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $100.83.

A number of research firms have recently issued reports on ALTR. Rosenblatt Securities reaffirmed a “neutral” rating and set a $113.00 price objective on shares of Altair Engineering in a report on Monday, February 24th. Needham & Company LLC reaffirmed a “hold” rating on shares of Altair Engineering in a research note on Friday, February 21st.

Altair Engineering Stock Up 0.1 %

Shares of NASDAQ ALTR opened at $111.42 on Tuesday. The firm has a market capitalization of $9.56 billion, a P/E ratio of 655.41, a P/E/G ratio of 10.75 and a beta of 1.45. The stock’s 50-day simple moving average is $110.80 and its two-hundred day simple moving average is $104.10. Altair Engineering has a twelve month low of $75.71 and a twelve month high of $113.12.

Altair Engineering (NASDAQ:ALTR) last posted 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 return on equity of 8.08% and a net margin of 2.13%. The company had revenue of $192.63 million during the quarter, compared to the consensus estimate of $182.98 million. As a group, research analysts anticipate that Altair Engineering will post 0.87 EPS for the current fiscal year.

Insiders Place Their Bets

In other Altair Engineering news, CFO Matthew Charles Brown sold 1,048 shares of Altair Engineering stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $108.90, for a total value of $114,127.20. Following the transaction, the chief financial officer now directly owns 55,519 shares of the company’s stock, valued at $6,046,019.10. The trade was a 1.85 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Teresa A. Harris sold 2,700 shares of the business’s stock in a transaction that occurred on 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 owns 18,542 shares of the company’s stock, valued at $2,069,472.62. The trade was a 12.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 10,805 shares of company stock valued at $1,202,184 over the last three months. Insiders own 21.75% of the company’s stock.

Institutional Investors Weigh In On Altair Engineering

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Crossmark Global Holdings Inc. grew its holdings in Altair Engineering by 22.0% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 3,947 shares of the software’s stock worth $377,000 after acquiring an additional 711 shares during the last quarter. KBC Group NV grew its stake in shares of Altair Engineering by 17.9% in the third quarter. KBC Group NV now owns 1,640 shares of the software’s stock worth $157,000 after purchasing an additional 249 shares during the last quarter. Thrivent Financial for Lutherans increased its holdings in Altair Engineering by 1.5% during the 3rd quarter. Thrivent Financial for Lutherans now owns 13,961 shares of the software’s stock valued at $1,333,000 after purchasing an additional 201 shares during the period. Quest Partners LLC bought a new position in Altair Engineering during the 3rd quarter valued at approximately $617,000. Finally, King Luther Capital Management Corp lifted its holdings in Altair Engineering by 5.6% in the 3rd quarter. King Luther Capital Management Corp now owns 174,733 shares of the software’s stock worth $16,689,000 after buying an additional 9,310 shares during the period. 63.38% of the stock is currently owned by institutional investors.

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.