Altair Engineering (NASDAQ:ALTR) Receives “Hold” Rating from Loop Capital

Loop Capital reiterated their hold rating on shares of Altair Engineering (NASDAQ:ALTR) in a research note issued to investors on Thursday morning, Benzinga reports. They currently have a $113.00 price target on the software’s stock.

Several other research analysts have also recently weighed in on the stock. The Goldman Sachs Group cut shares of Altair Engineering from a “neutral” rating to a “sell” rating and lowered their price target for the company from $85.00 to $71.00 in a report on Friday, August 2nd. William Blair reissued a “market perform” rating on shares of Altair Engineering in a research note on Thursday. 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 note on Monday, July 15th. Royal Bank of Canada reissued a “sector perform” rating and issued a $90.00 price objective on shares of Altair Engineering in a research note on Wednesday, October 23rd. Finally, Needham & Company LLC reiterated a “buy” rating and set a $100.00 price target on shares of Altair Engineering in a report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, Altair Engineering presently has an average rating of “Hold” and an average target price of $100.71.

Altair Engineering Trading Up 0.1 %

Shares of ALTR traded up $0.14 during trading hours on Thursday, reaching $104.13. The stock had a trading volume of 316,376 shares, compared to its average volume of 508,298. The company has a quick ratio of 3.14, a current ratio of 3.14 and a debt-to-equity ratio of 0.29. Altair Engineering has a 52 week low of $57.59 and a 52 week high of $113.12. The firm has a 50-day moving average of $94.03 and a 200 day moving average of $91.38. The company has a market cap of $8.84 billion, a P/E ratio of 273.67, a P/E/G ratio of 13.87 and a beta of 1.45.

Altair Engineering (NASDAQ:ALTR) last released its quarterly earnings data on Wednesday, October 30th. The software reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.07. Altair Engineering had a net margin of 5.10% and a return on equity of 7.70%. The business had revenue of $151.45 million during the quarter, compared to analysts’ expectations of $146.55 million. On average, sell-side analysts expect that Altair Engineering will post 0.65 earnings per share for the current fiscal year.

Insider Buying and Selling at Altair Engineering

In other news, major shareholder Christ Revocable Trust sold 50,048 shares of the firm’s stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $95.07, for a total value of $4,758,063.36. Following the completion of the sale, the insider now directly owns 149,952 shares of the company’s stock, valued at approximately $14,255,936.64. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CEO James Ralph Scapa sold 13,000 shares of the stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $89.04, for a total value of $1,157,520.00. Following the completion of the transaction, the chief executive officer now directly owns 134,045 shares in the company, valued at $11,935,366.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Christ Revocable Trust sold 50,048 shares of the stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $95.07, for a total transaction of $4,758,063.36. Following the completion of the transaction, the insider now owns 149,952 shares of the company’s stock, valued at approximately $14,255,936.64. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 360,360 shares of company stock valued at $35,476,660 in the last quarter. Company insiders own 21.75% of the company’s stock.

Institutional Trading of Altair Engineering

Large investors have recently made changes to their positions in the stock. QRG Capital Management Inc. raised its position in shares of Altair Engineering by 9.2% during the third quarter. QRG Capital Management Inc. now owns 25,874 shares of the software’s stock valued at $2,471,000 after buying an additional 2,190 shares during the last quarter. Van ECK Associates Corp grew its stake in shares of Altair Engineering by 28.5% in the 3rd quarter. Van ECK Associates Corp now owns 1,358 shares of the software’s stock worth $130,000 after buying an additional 301 shares in the last quarter. Harbor Capital Advisors Inc. grew its stake in shares of Altair Engineering by 2.9% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 10,017 shares of the software’s stock worth $957,000 after buying an additional 279 shares in the last quarter. Conestoga Capital Advisors LLC grew its stake in shares of Altair Engineering by 1.4% in the 3rd quarter. Conestoga Capital Advisors LLC now owns 2,522,551 shares of the software’s stock worth $240,929,000 after buying an additional 33,985 shares in the last quarter. Finally, US Bancorp DE lifted its holdings in shares of Altair Engineering by 19.6% in the 3rd quarter. US Bancorp DE now owns 6,572 shares of the software’s stock worth $628,000 after acquiring an additional 1,078 shares during the last quarter. 63.38% of the stock is currently owned by institutional investors.

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.