Altair Engineering Inc. (NASDAQ:ALTR) Major Shareholder George J. Christ Sells 83,336 Shares of Stock

Altair Engineering Inc. (NASDAQ:ALTRGet Free Report) major shareholder George J. Christ sold 83,336 shares of the firm’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $85.99, for a total transaction of $7,166,062.64. Following the completion of the transaction, the insider now directly owns 200,000 shares of the company’s stock, valued at approximately $17,198,000. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

George J. Christ also recently made the following trade(s):

  • On Tuesday, January 23rd, George J. Christ sold 100,000 shares of Altair Engineering stock. The shares were sold at an average price of $87.32, for a total value of $8,732,000.00.

Altair Engineering Trading Down 0.8 %

NASDAQ ALTR opened at $85.47 on Tuesday. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.32. The firm has a 50-day moving average price of $85.77 and a 200 day moving average price of $76.34. Altair Engineering Inc. has a 52-week low of $57.59 and a 52-week high of $92.92. The stock has a market capitalization of $7.05 billion, a P/E ratio of -657.46, a P/E/G ratio of 12.03 and a beta of 1.42.

Altair Engineering (NASDAQ:ALTRGet Free Report) last issued its earnings results on Thursday, February 22nd. The software reported $0.29 EPS for the quarter, topping the consensus estimate of $0.22 by $0.07. Altair Engineering had a negative net margin of 1.46% and a positive return on equity of 3.77%. The company had revenue of $171.50 million for the quarter, compared to analyst estimates of $172.48 million. Equities research analysts expect that Altair Engineering Inc. will post 0.6 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have weighed in on ALTR shares. Needham & Company LLC restated a “buy” rating and set a $100.00 price target on shares of Altair Engineering in a report on Monday, March 25th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $90.00 target price on shares of Altair Engineering in a report on Thursday, March 21st. Oppenheimer boosted their price target on shares of Altair Engineering from $95.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, February 23rd. JPMorgan Chase & Co. raised their price objective on shares of Altair Engineering from $86.00 to $95.00 and gave the company an “overweight” rating in a report on Tuesday, March 26th. Finally, Rosenblatt Securities reissued a “neutral” rating and set a $88.00 price objective (up previously from $74.00) on shares of Altair Engineering in a report on Friday, February 23rd. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Altair Engineering presently has an average rating of “Moderate Buy” and an average price target of $88.71.

Get Our Latest Analysis on Altair Engineering

Institutional Investors Weigh In On Altair Engineering

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. MetLife Investment Management LLC lifted its position in Altair Engineering by 54.5% during the first quarter. MetLife Investment Management LLC now owns 24,032 shares of the software’s stock valued at $1,548,000 after buying an additional 8,474 shares in the last quarter. Rhumbline Advisers boosted its position in Altair Engineering by 1.5% during the 1st quarter. Rhumbline Advisers now owns 47,705 shares of the software’s stock worth $3,072,000 after purchasing an additional 704 shares during the period. BlackRock Inc. raised its position in Altair Engineering by 7.5% in the first quarter. BlackRock Inc. now owns 4,879,144 shares of the software’s stock valued at $314,217,000 after purchasing an additional 339,610 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Altair Engineering by 3.0% in the first quarter. Dimensional Fund Advisors LP now owns 353,243 shares of the software’s stock worth $22,750,000 after buying an additional 10,216 shares during the period. Finally, Vanguard Group Inc. raised its holdings in shares of Altair Engineering by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 4,645,906 shares of the software’s stock valued at $299,196,000 after buying an additional 18,157 shares during the period. 63.38% of the stock is currently owned by institutional investors and hedge funds.

About Altair Engineering

(Get Free Report)

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.

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