Hillsdale Investment Management Inc. Grows Stock Holdings in Altair Engineering Inc. (NASDAQ:ALTR)

Hillsdale Investment Management Inc. raised its position in shares of Altair Engineering Inc. (NASDAQ:ALTR) by 8.5% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 41,920 shares of the software’s stock after acquiring an additional 3,300 shares during the period. Hillsdale Investment Management Inc. owned approximately 0.05% of Altair Engineering worth $3,611,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the company. Matrix Capital Management Company LP increased its position in Altair Engineering by 8.3% during the fourth quarter. Matrix Capital Management Company LP now owns 12,233,174 shares of the software’s stock valued at $1,029,422,000 after acquiring an additional 932,717 shares during the last quarter. Vanguard Group Inc. increased its position in Altair Engineering by 3.2% during the first quarter. Vanguard Group Inc. now owns 5,944,285 shares of the software’s stock valued at $512,100,000 after acquiring an additional 182,840 shares during the last quarter. Conestoga Capital Advisors LLC increased its position in Altair Engineering by 0.6% during the first quarter. Conestoga Capital Advisors LLC now owns 2,440,081 shares of the software’s stock valued at $210,213,000 after acquiring an additional 15,370 shares during the last quarter. Wellington Management Group LLP increased its position in Altair Engineering by 97.3% during the fourth quarter. Wellington Management Group LLP now owns 1,182,339 shares of the software’s stock valued at $99,494,000 after acquiring an additional 583,127 shares during the last quarter. Finally, Bain Capital Public Equity Management II LLC bought a new position in Altair Engineering during the fourth quarter valued at $57,728,000. Institutional investors own 63.38% of the company’s stock.

Analyst Upgrades and Downgrades

ALTR has been the topic of a number of analyst reports. JPMorgan Chase & Co. cut shares of Altair Engineering from an “overweight” rating to a “neutral” rating and set a $95.00 price objective on the stock. in a research report on Monday, July 15th. Needham & Company LLC restated a “buy” rating and issued a $100.00 price target on shares of Altair Engineering in a report on Friday, May 3rd. Finally, Rosenblatt Securities restated a “neutral” rating and issued a $88.00 price target on shares of Altair Engineering in a report on Monday, April 29th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $94.60.

Insiders Place Their Bets

In other Altair Engineering news, Director Teresa A. Harris sold 620 shares of the stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $82.89, for a total transaction of $51,391.80. Following the transaction, the director now directly owns 18,895 shares in the company, valued at approximately $1,566,206.55. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Altair Engineering news, CEO James Ralph Scapa sold 5,560 shares of the stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $84.37, for a total transaction of $469,097.20. Following the completion of the sale, the chief executive officer now directly owns 134,045 shares of the company’s stock, valued at $11,309,376.65. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Teresa A. Harris sold 620 shares of the stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $82.89, for a total transaction of $51,391.80. Following the sale, the director now directly owns 18,895 shares of the company’s stock, valued at $1,566,206.55. The disclosure for this sale can be found here. Insiders have sold a total of 467,254 shares of company stock worth $43,396,100 in the last three months. Corporate insiders own 21.75% of the company’s stock.

Altair Engineering Trading Up 2.1 %

Shares of NASDAQ ALTR traded up $1.89 during mid-day trading on Monday, reaching $91.62. The company had a trading volume of 610,808 shares, compared to its average volume of 499,048. The business’s 50-day moving average is $93.95 and its 200-day moving average is $87.95. The company has a current ratio of 2.46, a quick ratio of 2.46 and a debt-to-equity ratio of 0.30. The stock has a market cap of $7.61 billion, a price-to-earnings ratio of 1,018.00, a price-to-earnings-growth ratio of 11.29 and a beta of 1.48. Altair Engineering Inc. has a 52 week low of $57.59 and a 52 week high of $101.39.

Altair Engineering (NASDAQ:ALTR) last issued its earnings results on Thursday, May 2nd. The software reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.06. Altair Engineering had a net margin of 1.55% and a return on equity of 5.60%. The company had revenue of $172.91 million for the quarter, compared to analysts’ expectations of $169.29 million. During the same period in the prior year, the business earned $0.13 EPS. The firm’s quarterly revenue was up 4.1% on a year-over-year basis. Equities analysts expect that Altair Engineering Inc. will post 0.66 earnings per share for the current year.

Altair Engineering Company 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.