Altair Engineering Inc. (NASDAQ:ALTR) Stock Holdings Lowered by Russell Investments Group Ltd.

Russell Investments Group Ltd. decreased its holdings in Altair Engineering Inc. (NASDAQ:ALTR) by 8.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 15,171 shares of the software’s stock after selling 1,417 shares during the quarter. Russell Investments Group Ltd.’s holdings in Altair Engineering were worth $1,655,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of ALTR. Grantham Mayo Van Otterloo & Co. LLC purchased a new position in shares of Altair Engineering during the fourth quarter valued at $10,085,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Altair Engineering in the fourth quarter worth approximately $691,000. Slotnik Capital LLC acquired a new stake in shares of Altair Engineering during the fourth quarter worth approximately $19,381,000. California Public Employees Retirement System increased its stake in Altair Engineering by 135.9% in the 4th quarter. California Public Employees Retirement System now owns 220,435 shares of the software’s stock valued at $24,052,000 after buying an additional 127,009 shares during the period. Finally, New Age Alpha Advisors LLC acquired a new stake in shares of Altair Engineering during the 4th quarter valued at $1,423,000. Institutional investors and hedge funds own 63.38% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on ALTR. Rosenblatt Securities restated a “neutral” rating and issued a $113.00 target price on shares of Altair Engineering in a research note on Monday, February 24th. Needham & Company LLC restated a “hold” rating on shares of Altair Engineering in a report on Friday, February 21st. One analyst has rated the stock with a sell rating and seven have given a hold rating to the stock. Based on data from MarketBeat.com, Altair Engineering currently has a consensus rating of “Hold” and an average target price of $100.83.

Insider Activity at Altair Engineering

In other news, CFO Matthew Charles Brown sold 3,811 shares of the stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $111.53, for a total transaction of $425,040.83. Following the sale, the chief financial officer now directly owns 69,394 shares of the company’s stock, valued at approximately $7,739,512.82. This represents a 5.21 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Teresa A. Harris sold 2,700 shares of the business’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $111.61, for a total transaction of $301,347.00. Following the completion of the transaction, the director now owns 18,542 shares of the company’s stock, valued at $2,069,472.62. The trade was a 12.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 12,172 shares of company stock worth $1,356,847. Insiders own 21.75% of the company’s stock.

Altair Engineering Price Performance

Shares of NASDAQ:ALTR opened at $111.85 on Friday. The firm’s 50 day simple moving average is $111.57 and its 200 day simple moving average is $107.75. Altair Engineering Inc. has a fifty-two week low of $75.71 and a fifty-two week high of $113.12. The company has a market capitalization of $9.60 billion, a price-to-earnings ratio of 657.94, a P/E/G ratio of 10.75 and a beta of 1.45.

Altair Engineering (NASDAQ:ALTR) last released its quarterly earnings results on Thursday, February 20th. The software reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.15). Altair Engineering had a return on equity of 8.08% and a net margin of 2.13%. The firm had revenue of $192.63 million for the quarter, compared to analyst estimates of $182.98 million. Equities research analysts expect that Altair Engineering Inc. will post 0.87 earnings per share 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.