Altair Engineering Inc. (NASDAQ:ALTR) Major Shareholder Sells $748,650.00 in Stock

Altair Engineering Inc. (NASDAQ:ALTR – Get Rating) major shareholder Jrs Investments Llc sold 15,000 shares of the business’s stock in a transaction on Tuesday, January 17th. The stock was sold at an average price of $49.91, for a total value of $748,650.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Jrs Investments Llc also recently made the following trade(s):

• On Monday, January 9th, Jrs Investments Llc sold 15,000 shares of Altair Engineering stock. The stock was sold at an average price of $48.45, for a total value of $726,750.00.

Altair Engineering Trading Up 1.2 %

ALTR stock opened at $51.93 on Friday. The company has a market cap of $4.16 billion, a P/E ratio of -70.17, a PEG ratio of 36.60 and a beta of 1.47. Altair Engineering Inc. has a twelve month low of $43.17 and a twelve month high of $68.85. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 0.57. The business has a fifty day moving average of $47.45 and a 200-day moving average of $49.45.

Altair Engineering (NASDAQ:ALTR – Get Rating) last released its earnings results on Thursday, November 3rd. The software reported ($0.16) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.03. The company had revenue of $119.35 million during the quarter, compared to the consensus estimate of $118.47 million. Altair Engineering had a negative return on equity of 0.13% and a negative net margin of 10.30%. As a group, equities research analysts expect that Altair Engineering Inc. will post 0.02 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have commented on ALTR. Needham & Company LLC began coverage on Altair Engineering in a research note on Wednesday, November 16th. They issued a “buy” rating and a $60.00 price objective on the stock. Rosenblatt Securities reduced their price objective on Altair Engineering from $70.00 to $63.00 and set a “buy” rating on the stock in a research note on Monday, October 24th. One investment analyst has rated the stock with a sell rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Altair Engineering currently has an average rating of “Moderate Buy” and an average target price of $58.80.

Institutional Investors Weigh In On Altair Engineering

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Quadrant Capital Group LLC increased its holdings in Altair Engineering by 750.8% in the second quarter. Quadrant Capital Group LLC now owns 553 shares of the software’s stock valued at $29,000 after purchasing an additional 488 shares during the last quarter. Ellevest Inc. increased its holdings in Altair Engineering by 182.3% in the second quarter. Ellevest Inc. now owns 573 shares of the software’s stock valued at $30,000 after purchasing an additional 370 shares during the last quarter. SeaCrest Wealth Management LLC bought a new stake in Altair Engineering in the second quarter valued at about $42,000. Castle Wealth Management LLC bought a new stake in Altair Engineering in the second quarter valued at about $53,000. Finally, Nisa Investment Advisors LLC increased its holdings in Altair Engineering by 15.7% in the second quarter. Nisa Investment Advisors LLC now owns 2,140 shares of the software’s stock valued at $112,000 after purchasing an additional 290 shares during the last quarter. Institutional investors own 61.66% of the company’s stock.

About Altair Engineering

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Altair Engineering Inc, together with its subsidiaries, provides software and cloud solutions in the areas of simulation, high-performance computing, data analytics, and artificial intelligence worldwide. The company operates in two segments, Software and Client Engineering Services. The Software segment includes solvers and optimization technology products, high-performance computing software applications and hardware products, modeling and visualization tools, data analytics and analysis products, and Internet of Things platform and analytics tools, as well as support and the complementary software products.