Altair Engineering Inc. (NASDAQ:ALTR) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Altair Engineering Inc. (NASDAQ:ALTR – Get Rating) have been assigned a consensus rating of “Moderate Buy” from the six ratings firms that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation and three have given a buy recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $58.50.

ALTR has been the topic of a number of analyst reports. Needham & Company LLC initiated coverage on shares of Altair Engineering in a report on Wednesday, November 16th. They set a “buy” rating and a $60.00 target price on the stock. Rosenblatt Securities decreased their target price on shares of Altair Engineering from $70.00 to $63.00 and set a “buy” rating on the stock in a report on Monday, October 24th. Finally, TheStreet lowered shares of Altair Engineering from a “c-” rating to a “d+” rating in a report on Monday, September 19th.

Insider Transactions at Altair Engineering

In other news, major shareholder Jrs Investments Llc sold 15,000 shares of the firm’s stock in a transaction dated Monday, January 9th. The shares were sold at an average price of $48.45, for a total value of $726,750.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, major shareholder Jrs Investments Llc sold 15,000 shares of Altair Engineering stock in a transaction dated Monday, January 9th. The shares were sold at an average price of $48.45, for a total transaction of $726,750.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO James Ralph Scapa sold 57,915 shares of Altair Engineering stock in a transaction dated Tuesday, November 15th. The shares were sold at an average price of $49.97, for a total transaction of $2,894,012.55. Following the transaction, the chief executive officer now directly owns 103,224 shares of the company’s stock, valued at $5,158,103.28. The disclosure for this sale can be found here. In the last ninety days, insiders sold 112,278 shares of company stock valued at $5,521,618. Company insiders own 22.65% of the company’s stock.

Institutional Trading of Altair Engineering

A number of institutional investors and hedge funds have recently bought and sold shares of ALTR. Quadrant Capital Group LLC increased its stake in Altair Engineering by 750.8% during the 2nd quarter. Quadrant Capital Group LLC now owns 553 shares of the software’s stock valued at $29,000 after purchasing an additional 488 shares in the last quarter. Ellevest Inc. grew its stake in shares of Altair Engineering by 182.3% in the second quarter. Ellevest Inc. now owns 573 shares of the software’s stock worth $30,000 after acquiring an additional 370 shares during the period. SeaCrest Wealth Management LLC bought a new stake in shares of Altair Engineering in the second quarter worth approximately $42,000. Castle Wealth Management LLC bought a new stake in shares of Altair Engineering in the second quarter worth approximately $53,000. Finally, Nisa Investment Advisors LLC grew its stake in shares of Altair Engineering by 15.7% in the second quarter. Nisa Investment Advisors LLC now owns 2,140 shares of the software’s stock worth $112,000 after acquiring an additional 290 shares during the period. 61.66% of the stock is currently owned by institutional investors.

Altair Engineering Stock Performance

Shares of ALTR stock opened at $49.85 on Friday. The stock has a market capitalization of $4.00 billion, a P/E ratio of -67.36, a PEG ratio of 34.52 and a beta of 1.47. The company has a current ratio of 2.35, a quick ratio of 2.35 and a debt-to-equity ratio of 0.57. The firm’s 50 day moving average is $46.97 and its 200 day moving average is $49.50. Altair Engineering has a 12 month low of $43.17 and a 12 month high of $69.08.

Altair Engineering (NASDAQ:ALTR – Get Rating) last posted its earnings results on Thursday, November 3rd. The software reported ($0.16) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.03. The business had revenue of $119.35 million for the quarter, compared to analyst estimates of $118.47 million. Altair Engineering had a negative net margin of 10.30% and a negative return on equity of 0.13%. On average, sell-side analysts anticipate that Altair Engineering will post 0.02 earnings per share for the current year.

About Altair Engineering

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Altair Engineering Inc, together with its subsidiaries, provides software and cloud solutions in the areas of simulation, high-performance computing, data analytics, and artificial intelligence worldwide. The company operates in two segments, Software and Client Engineering Services. The Software segment includes solvers and optimization technology products, high-performance computing software applications and hardware products, modeling and visualization tools, data analytics and analysis products, and Internet of Things platform and analytics tools, as well as support and the complementary software products.