Altair Engineering Inc. (NASDAQ:ALTR) Shares Acquired by Strs Ohio

Strs Ohio increased its position in Altair Engineering Inc. (NASDAQ:ALTR) by 94.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,500 shares of the software’s stock after buying an additional 8,500 shares during the period. Strs Ohio’s holdings in Altair Engineering were worth $1,472,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Teachers Retirement System of The State of Kentucky acquired a new position in shares of Altair Engineering in the third quarter valued at approximately $1,049,000. Comerica Bank purchased a new stake in Altair Engineering in the third quarter valued at approximately $11,051,000. Lazard Asset Management LLC grew its holdings in Altair Engineering by 168,148.1% in the third quarter. Lazard Asset Management LLC now owns 45,427 shares of the software’s stock valued at $2,841,000 after purchasing an additional 45,400 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Altair Engineering by 4.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 415,538 shares of the software’s stock valued at $25,996,000 after purchasing an additional 16,075 shares during the period. Finally, Ameriprise Financial Inc. grew its holdings in Altair Engineering by 22.8% in the third quarter. Ameriprise Financial Inc. now owns 951,698 shares of the software’s stock valued at $59,538,000 after purchasing an additional 176,780 shares during the period. Institutional investors and hedge funds own 63.38% of the company’s stock.

Insiders Place Their Bets

In other Altair Engineering news, major shareholder George J. Christ sold 100,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $87.32, for a total transaction of $8,732,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, major shareholder Jrs Investments Llc sold 5,000 shares of the business’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $91.07, for a total transaction of $455,350.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder George J. Christ sold 100,000 shares of the business’s stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $87.32, for a total transaction of $8,732,000.00. The disclosure for this sale can be found here. Insiders sold a total of 261,830 shares of company stock worth $22,608,320 over the last ninety days. 21.75% of the stock is owned by company insiders.

Altair Engineering Price Performance

ALTR opened at $82.32 on Monday. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.32. Altair Engineering Inc. has a 52-week low of $57.59 and a 52-week high of $92.92. The company has a 50 day moving average of $84.49 and a two-hundred day moving average of $78.31. The company has a market cap of $6.79 billion, a P/E ratio of -633.23, a P/E/G ratio of 10.98 and a beta of 1.42.

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

Analyst Ratings Changes

A number of research firms recently issued reports on ALTR. Oppenheimer boosted their target price on shares of Altair Engineering from $95.00 to $100.00 and gave the company an “outperform” rating in a report on Friday, February 23rd. Rosenblatt Securities restated a “neutral” rating and issued a $88.00 target price (up from $74.00) on shares of Altair Engineering in a report on Friday, February 23rd. Royal Bank of Canada restated a “sector perform” rating and issued a $90.00 target price on shares of Altair Engineering in a report on Thursday, March 21st. Needham & Company LLC restated a “buy” rating and issued a $100.00 target price on shares of Altair Engineering in a report on Monday, March 25th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Altair Engineering from $86.00 to $95.00 and gave the company an “overweight” rating in a report on Tuesday, March 26th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Altair Engineering has a consensus rating of “Moderate Buy” and a consensus target price of $90.00.

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.