Xponance Inc. Takes Position in Altair Engineering Inc. (NASDAQ:ALTR)

Xponance Inc. purchased a new stake in Altair Engineering Inc. (NASDAQ:ALTR) in the fourth quarter, HoldingsChannel reports. The firm purchased 3,299 shares of the software’s stock, valued at approximately $278,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ALTR. SG Americas Securities LLC raised its position in shares of Altair Engineering by 31.3% in the third quarter. SG Americas Securities LLC now owns 2,171 shares of the software’s stock valued at $136,000 after buying an additional 518 shares in the last quarter. Harbor Capital Advisors Inc. raised its position in shares of Altair Engineering by 14.5% in the third quarter. Harbor Capital Advisors Inc. now owns 11,079 shares of the software’s stock valued at $693,000 after buying an additional 1,406 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Altair Engineering by 6.6% in the third quarter. Bank of New York Mellon Corp now owns 269,932 shares of the software’s stock valued at $16,887,000 after buying an additional 16,768 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Altair Engineering by 9.1% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,438 shares of the software’s stock valued at $653,000 after buying an additional 870 shares in the last quarter. Finally, Strs Ohio raised its position in shares of Altair Engineering by 95.7% in the third quarter. Strs Ohio now owns 9,000 shares of the software’s stock valued at $563,000 after buying an additional 4,400 shares in the last quarter. 63.38% of the stock is currently owned by institutional investors and hedge funds.

Altair Engineering Stock Up 0.5 %

Shares of NASDAQ:ALTR opened at $83.58 on Friday. The company has a fifty day moving average of $83.87 and a 200-day moving average of $78.83. The company has a market capitalization of $6.89 billion, a PE ratio of -642.92, a price-to-earnings-growth ratio of 11.09 and a beta of 1.42. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.16 and a current ratio of 2.16. Altair Engineering Inc. has a 52-week low of $57.59 and a 52-week high of $92.92.

Altair Engineering (NASDAQ:ALTR) last announced its quarterly earnings results 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. The company 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%. On average, equities analysts predict that Altair Engineering Inc. will post 0.63 EPS for the current fiscal year.

Analyst Ratings Changes

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

Insider Activity at Altair Engineering

In related news, major shareholder George J. Christ sold 83,336 shares of the stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $85.99, for a total value of $7,166,062.64. Following the completion of the sale, the insider now directly owns 200,000 shares in the company, valued at $17,198,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, major shareholder Jrs Investments Llc sold 5,000 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $91.07, for a total value of $455,350.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder George J. Christ sold 83,336 shares of the stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $85.99, for a total value of $7,166,062.64. Following the completion of the sale, the insider now owns 200,000 shares of the company’s stock, valued at $17,198,000. The disclosure for this sale can be found here. Insiders sold 161,830 shares of company stock worth $13,876,320 over the last three months. Company insiders own 21.75% of the company’s stock.

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.