Invesco Ltd. Sells 1,318,131 Shares of Altair Engineering Inc. (NASDAQ:ALTR)

Invesco Ltd. decreased its holdings in Altair Engineering Inc. (NASDAQ:ALTR) by 93.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 87,830 shares of the software’s stock after selling 1,318,131 shares during the quarter. Invesco Ltd. owned 0.10% of Altair Engineering worth $9,583,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of ALTR. GAMMA Investing LLC boosted its stake in shares of Altair Engineering by 14.6% in the fourth quarter. GAMMA Investing LLC now owns 729 shares of the software’s stock valued at $80,000 after buying an additional 93 shares during the period. Louisiana State Employees Retirement System lifted its position in shares of Altair Engineering by 0.6% during the 4th quarter. Louisiana State Employees Retirement System now owns 16,600 shares of the software’s stock valued at $1,811,000 after acquiring an additional 100 shares during the period. New York State Teachers Retirement System grew its holdings in shares of Altair Engineering by 1.2% during the 4th quarter. New York State Teachers Retirement System now owns 8,600 shares of the software’s stock worth $938,000 after purchasing an additional 100 shares in the last quarter. State of Michigan Retirement System grew its stake in Altair Engineering by 0.7% during the fourth quarter. State of Michigan Retirement System now owns 14,200 shares of the software’s stock worth $1,549,000 after buying an additional 100 shares in the last quarter. Finally, Thrivent Financial for Lutherans raised its position in shares of Altair Engineering by 0.7% in the 4th quarter. Thrivent Financial for Lutherans now owns 14,065 shares of the software’s stock valued at $1,535,000 after buying an additional 104 shares in the last quarter. Institutional investors own 63.38% of the company’s stock.

Altair Engineering Price Performance

Shares of ALTR opened at $111.85 on Thursday. Altair Engineering Inc. has a 1 year low of $75.71 and a 1 year high of $113.12. The stock has a 50 day simple moving average of $111.64 and a two-hundred day simple moving average of $108.01. The firm has a market cap of $9.60 billion, a P/E 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 data on Thursday, February 20th. The software reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.15). The firm had revenue of $192.63 million during the quarter, compared to analysts’ expectations of $182.98 million. Altair Engineering had a net margin of 2.13% and a return on equity of 8.08%. On average, equities analysts anticipate that Altair Engineering Inc. will post 0.87 earnings per share for the current year.

Insiders Place Their Bets

In related news, CMO Amy Messano sold 235 shares of the company’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $111.53, for a total transaction of $26,209.55. Following the sale, the chief marketing officer now owns 23,651 shares of the company’s stock, valued at $2,637,796.03. This represents a 0.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Teresa A. Harris sold 2,700 shares of Altair Engineering stock in a transaction on Tuesday, February 25th. The stock was 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 directly 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. Insiders sold a total of 12,172 shares of company stock worth $1,356,847 over the last quarter. 21.75% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

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

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.