George J. Christ Sells 49,952 Shares of Altair Engineering Inc. (NASDAQ:ALTR) Stock

Altair Engineering Inc. (NASDAQ:ALTR) major shareholder George J. Christ sold 49,952 shares of the firm’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $95.72, for a total value of $4,781,405.44. Following the completion of the sale, the insider now directly owns 100,000 shares in the company, valued at approximately $9,572,000. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Altair Engineering Price Performance

ALTR opened at $95.00 on Friday. The company has a quick ratio of 3.14, a current ratio of 3.14 and a debt-to-equity ratio of 0.29. Altair Engineering Inc. has a 12 month low of $57.59 and a 12 month high of $101.39. The company has a fifty day simple moving average of $90.18 and a 200 day simple moving average of $89.71. The stock has a market cap of $7.89 billion, a P/E ratio of 1,055.56, a P/E/G ratio of 12.01 and a beta of 1.45.

Altair Engineering (NASDAQ:ALTR) last posted its quarterly earnings data on Thursday, August 1st. The software reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.01. Altair Engineering had a net margin of 4.26% and a return on equity of 6.89%. The company had revenue of $148.80 million during the quarter, compared to the consensus estimate of $146.88 million. During the same period in the prior year, the business posted ($0.15) EPS. The company’s quarterly revenue was up 5.4% on a year-over-year basis. On average, research analysts expect that Altair Engineering Inc. will post 0.65 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. cut shares of Altair Engineering from an “overweight” rating to a “neutral” rating and set a $95.00 target price for the company. in a research note on Monday, July 15th. Needham & Company LLC reiterated a “buy” rating and issued a $100.00 target price on shares of Altair Engineering in a research note on Friday, August 2nd. Finally, The Goldman Sachs Group cut shares of Altair Engineering from a “neutral” rating to a “sell” rating and reduced their target price for the company from $85.00 to $71.00 in a research note on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $90.67.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ALTR. Wellington Management Group LLP boosted its position in shares of Altair Engineering by 97.3% during the 4th quarter. Wellington Management Group LLP now owns 1,182,339 shares of the software’s stock worth $99,494,000 after acquiring an additional 583,127 shares in the last quarter. Russell Investments Group Ltd. increased its stake in Altair Engineering by 5,564.8% in the first quarter. Russell Investments Group Ltd. now owns 31,043 shares of the software’s stock valued at $2,676,000 after purchasing an additional 30,495 shares in the last quarter. Bain Capital Public Equity LP bought a new stake in Altair Engineering in the fourth quarter valued at $6,376,000. Linden Thomas Advisory Services LLC bought a new stake in Altair Engineering in the second quarter valued at $629,000. Finally, Jane Street Group LLC increased its position in shares of Altair Engineering by 960.2% during the first quarter. Jane Street Group LLC now owns 303,672 shares of the software’s stock worth $26,161,000 after acquiring an additional 275,030 shares in the last quarter. 63.38% of the stock is owned by institutional investors.

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.