Mutual of America Capital Management LLC Lowers Stock Position in Altair Engineering Inc. (NASDAQ:ALTR)

Mutual of America Capital Management LLC lowered its position in Altair Engineering Inc. (NASDAQ:ALTR) by 4.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 36,975 shares of the software’s stock after selling 1,689 shares during the period. Mutual of America Capital Management LLC’s holdings in Altair Engineering were worth $3,111,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in ALTR. Wellington Management Group LLP purchased a new stake in shares of Altair Engineering in the third quarter valued at about $37,487,000. Fred Alger Management LLC raised its holdings in shares of Altair Engineering by 9,727.3% in the first quarter. Fred Alger Management LLC now owns 350,345 shares of the software’s stock valued at $25,263,000 after purchasing an additional 346,780 shares during the last quarter. BlackRock Inc. raised its holdings in shares of Altair Engineering by 7.5% in the first quarter. BlackRock Inc. now owns 4,879,144 shares of the software’s stock valued at $314,217,000 after purchasing an additional 339,610 shares during the last quarter. Eaton Vance Management raised its holdings in shares of Altair Engineering by 24.9% in the first quarter. Eaton Vance Management now owns 1,228,336 shares of the software’s stock valued at $79,104,000 after purchasing an additional 244,872 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Altair Engineering in the fourth quarter valued at about $10,087,000. Hedge funds and other institutional investors own 63.38% of the company’s stock.

Altair Engineering Price Performance

ALTR opened at $80.56 on Thursday. The company has a market capitalization of $6.65 billion, a price-to-earnings ratio of -619.69, a PEG ratio of 10.80 and a beta of 1.42. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.32. The firm has a 50-day moving average price of $84.88 and a 200-day moving average price of $77.96. Altair Engineering Inc. has a twelve month low of $57.59 and a twelve month high of $92.92.

Altair Engineering (NASDAQ:ALTR) last posted its earnings results on Thursday, February 22nd. The software reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.07. The firm had revenue of $171.50 million during the quarter, compared to the consensus estimate of $172.48 million. Altair Engineering had a negative net margin of 1.46% and a positive return on equity of 3.77%. Equities analysts expect that Altair Engineering Inc. will post 0.63 EPS for the current year.

Insider Activity at Altair Engineering

In related news, CEO James Ralph Scapa sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $91.07, for a total transaction of $910,700.00. Following the completion of the transaction, the chief executive officer now owns 103,591 shares of the company’s stock, valued at $9,434,032.37. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CEO James Ralph Scapa sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $91.07, for a total transaction of $910,700.00. Following the completion of the transaction, the chief executive officer now owns 103,591 shares of the company’s stock, valued at $9,434,032.37. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder Jrs Investments Llc sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $80.74, for a total transaction of $403,700.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 261,830 shares of company stock valued at $22,608,320. Corporate insiders own 21.75% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Altair Engineering from $86.00 to $95.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 26th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $90.00 price objective on shares of Altair Engineering in a research report on Thursday, March 21st. Needham & Company LLC reaffirmed a “buy” rating and issued a $100.00 price objective on shares of Altair Engineering in a research report on Monday, March 25th. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $88.00 price objective (up previously from $74.00) on shares of Altair Engineering in a research report on Friday, February 23rd. Finally, Oppenheimer lifted their price objective on shares of Altair Engineering from $95.00 to $100.00 and gave the stock an “outperform” rating in a research report on Friday, February 23rd. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $88.71.

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.