Altair Engineering Inc. (NASDAQ:ALTR) Shares Acquired by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP boosted its holdings in Altair Engineering Inc. (NASDAQ:ALTR) by 7.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 513,695 shares of the software’s stock after acquiring an additional 37,114 shares during the quarter. Dimensional Fund Advisors LP owned about 0.62% of Altair Engineering worth $50,384,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ALTR. GAMMA Investing LLC raised its holdings in Altair Engineering by 81.7% during the 2nd quarter. GAMMA Investing LLC now owns 418 shares of the software’s stock worth $41,000 after buying an additional 188 shares during the period. FSC Wealth Advisors LLC grew its stake in shares of Altair Engineering by 41.3% in the 2nd quarter. FSC Wealth Advisors LLC now owns 832 shares of the software’s stock valued at $82,000 after buying an additional 243 shares in the last quarter. Van ECK Associates Corp boosted its position in Altair Engineering by 41.7% during the second quarter. Van ECK Associates Corp now owns 1,057 shares of the software’s stock worth $104,000 after purchasing an additional 311 shares during the period. Natixis Investment Managers International boosted its position in Altair Engineering by 68.7% during the fourth quarter. Natixis Investment Managers International now owns 1,940 shares of the software’s stock worth $163,000 after purchasing an additional 790 shares during the period. Finally, SG Americas Securities LLC bought a new stake in Altair Engineering during the first quarter worth approximately $177,000. 63.38% of the stock is currently owned by institutional investors.

Altair Engineering Stock Performance

ALTR stock opened at $94.87 on Monday. The company has a market cap of $7.88 billion, a P/E ratio of 1,054.11, a price-to-earnings-growth ratio of 12.01 and a beta of 1.45. Altair Engineering Inc. has a twelve month low of $57.59 and a twelve month high of $101.39. The company has a quick ratio of 3.14, a current ratio of 3.14 and a debt-to-equity ratio of 0.29. The business’s fifty day moving average is $89.05 and its 200-day moving average is $89.04.

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

Insider Activity

In other news, CEO James Ralph Scapa sold 13,000 shares of the firm’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $88.11, for a total value of $1,145,430.00. Following the completion of the transaction, the chief executive officer now owns 134,045 shares in the company, valued at approximately $11,810,704.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Altair Engineering news, Director Teresa A. Harris sold 620 shares of the firm’s stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $97.73, for a total transaction of $60,592.60. Following the completion of the sale, the director now directly owns 21,242 shares in the company, valued at $2,075,980.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO James Ralph Scapa sold 13,000 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $88.11, for a total transaction of $1,145,430.00. Following the sale, the chief executive officer now owns 134,045 shares of the company’s stock, valued at $11,810,704.95. The disclosure for this sale can be found here. Insiders sold 40,860 shares of company stock worth $3,621,825 in the last quarter. Corporate insiders own 21.75% of the company’s stock.

Wall Street Analyst Weigh In

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

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.