Vanguard Personalized Indexing Management LLC Takes Position in Altair Engineering Inc. (NASDAQ:ALTR)

Vanguard Personalized Indexing Management LLC bought a new position in Altair Engineering Inc. (NASDAQ:ALTR) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 2,326 shares of the software’s stock, valued at approximately $228,000.

A number of other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC boosted its holdings in shares of Altair Engineering by 81.7% in the 2nd quarter. GAMMA Investing LLC now owns 418 shares of the software’s stock worth $41,000 after purchasing an additional 188 shares in the last quarter. FSC Wealth Advisors LLC grew its position in Altair Engineering by 41.3% during the second quarter. FSC Wealth Advisors LLC now owns 832 shares of the software’s stock valued at $82,000 after acquiring an additional 243 shares during the last quarter. Van ECK Associates Corp raised its stake in shares of 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 acquiring an additional 311 shares in the last quarter. Natixis Investment Managers International lifted its holdings in shares of Altair Engineering by 68.7% in the 4th quarter. Natixis Investment Managers International now owns 1,940 shares of the software’s stock worth $163,000 after acquiring an additional 790 shares during the last quarter. Finally, SG Americas Securities LLC bought a new stake in shares of Altair Engineering in the 1st quarter worth approximately $177,000. Institutional investors own 63.38% of the company’s stock.

Insiders Place Their Bets

In other Altair Engineering news, Director Teresa A. Harris sold 620 shares of the company’s stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $97.73, for a total transaction of $60,592.60. Following the transaction, the director now owns 21,242 shares in the company, valued at approximately $2,075,980.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Teresa A. Harris sold 620 shares of Altair Engineering stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $97.73, for a total transaction of $60,592.60. Following the sale, the director now directly owns 21,242 shares in the company, valued at $2,075,980.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Jrs Investments Llc sold 6,500 shares of the stock in a transaction on Monday, July 29th. The stock was sold at an average price of $88.11, for a total value of $572,715.00. The disclosure for this sale can be found here. Insiders sold 40,860 shares of company stock worth $3,621,825 over the last three months. Company insiders own 21.75% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on ALTR shares. JPMorgan Chase & Co. cut shares of Altair Engineering from an “overweight” rating to a “neutral” rating and set a $95.00 target price on the stock. in a research report on Monday, July 15th. Needham & Company LLC reissued a “buy” rating and issued a $100.00 target price on shares of Altair Engineering in a research note on Friday, August 2nd. Finally, The Goldman Sachs Group lowered Altair Engineering from a “neutral” rating to a “sell” rating and dropped their price objective for the company from $85.00 to $71.00 in a research note on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Altair Engineering presently has a consensus rating of “Hold” and an average price target of $90.67.

Altair Engineering Price Performance

ALTR opened at $94.87 on Monday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 3.14 and a current ratio of 3.14. The stock has a market capitalization of $7.88 billion, a PE ratio of 1,054.11, a price-to-earnings-growth ratio of 12.01 and a beta of 1.45. The stock’s 50 day moving average price is $89.05 and its 200-day moving average price is $89.04. Altair Engineering Inc. has a 52-week low of $57.59 and a 52-week high of $101.39.

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 during the quarter, compared to analyst estimates of $146.88 million. Altair Engineering had a net margin of 4.26% and a return on equity of 6.89%. The company’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same period in the prior year, the business earned ($0.15) EPS. On average, equities research analysts predict that Altair Engineering Inc. will post 0.65 EPS for the current year.

Altair Engineering 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.