Victory Capital Management Inc. cut its stake in Altair Engineering Inc. (NASDAQ:ALTR – Free Report) by 2.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 382,629 shares of the software’s stock after selling 9,785 shares during the quarter. Victory Capital Management Inc. owned about 0.47% of Altair Engineering worth $32,198,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in ALTR. McGlone Suttner Wealth Management Inc. bought a new position in shares of Altair Engineering in the 4th quarter worth about $31,000. Harvest Fund Management Co. Ltd increased its stake in shares of Altair Engineering by 1,157.7% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 981 shares of the software’s stock worth $83,000 after acquiring an additional 903 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of Altair Engineering by 10.5% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,991 shares of the software’s stock worth $125,000 after acquiring an additional 190 shares in the last quarter. SG Americas Securities LLC increased its stake in shares of Altair Engineering by 31.3% in the 3rd quarter. SG Americas Securities LLC now owns 2,171 shares of the software’s stock worth $136,000 after acquiring an additional 518 shares in the last quarter. Finally, Legato Capital Management LLC bought a new stake in Altair Engineering during the 4th quarter valued at about $217,000. 63.38% of the stock is currently owned by institutional investors.
Insider Activity
In other news, CEO James Ralph Scapa sold 10,000 shares of the business’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $91.07, for a total transaction of $910,700.00. Following the completion of the sale, the chief executive officer now directly owns 103,591 shares of the company’s stock, valued at $9,434,032.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO James Ralph Scapa sold 10,000 shares of the company’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $91.07, for a total value of $910,700.00. Following the completion of the sale, the chief executive officer now directly owns 103,591 shares of the company’s stock, valued at $9,434,032.37. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Teresa A. Harris sold 620 shares of the company’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $84.00, for a total transaction of $52,080.00. Following the completion of the sale, the director now directly owns 18,895 shares of the company’s stock, valued at $1,587,180. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 161,830 shares of company stock valued at $13,876,320. 21.75% of the stock is currently owned by company insiders.
Analyst Upgrades and Downgrades
View Our Latest Analysis on Altair Engineering
Altair Engineering Trading Up 1.9 %
Shares of ALTR opened at $83.02 on Tuesday. The company’s fifty day moving average is $83.17 and its 200 day moving average is $79.63. Altair Engineering Inc. has a fifty-two week low of $57.59 and a fifty-two week high of $92.92. The stock has a market capitalization of $6.85 billion, a PE ratio of 922.44, a P/E/G ratio of 10.86 and a beta of 1.42. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.46 and a current ratio of 2.46.
Altair Engineering (NASDAQ:ALTR – Get Free Report) last posted its quarterly earnings data on Thursday, May 2nd. The software reported $0.40 EPS for the quarter, topping the consensus estimate of $0.34 by $0.06. The company had revenue of $172.91 million during the quarter, compared to analyst estimates of $169.29 million. Altair Engineering had a net margin of 1.55% and a return on equity of 5.60%. Altair Engineering’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.13 earnings per share. Sell-side analysts expect that Altair Engineering Inc. will post 0.63 earnings per share for the current fiscal year.
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.
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