New Age Alpha Advisors LLC Acquires Shares of 13,041 Altair Engineering Inc. (NASDAQ:ALTR)

New Age Alpha Advisors LLC bought a new position in Altair Engineering Inc. (NASDAQ:ALTR) during the 4th quarter, HoldingsChannel.com reports. The fund bought 13,041 shares of the software’s stock, valued at approximately $1,423,000.

A number of other large investors have also made changes to their positions in ALTR. Magnetar Financial LLC acquired a new position in Altair Engineering in the 4th quarter worth approximately $62,142,000. Norges Bank acquired a new stake in shares of Altair Engineering in the fourth quarter worth $37,899,000. Vanguard Group Inc. grew its holdings in shares of Altair Engineering by 4.8% during the fourth quarter. Vanguard Group Inc. now owns 6,894,230 shares of the software’s stock valued at $752,229,000 after buying an additional 317,575 shares in the last quarter. New York Life Investment Management LLC raised its position in Altair Engineering by 1,103.3% during the fourth quarter. New York Life Investment Management LLC now owns 76,363 shares of the software’s stock valued at $8,332,000 after buying an additional 70,017 shares during the period. Finally, State Street Corp lifted its stake in Altair Engineering by 3.3% in the 3rd quarter. State Street Corp now owns 2,053,957 shares of the software’s stock worth $196,173,000 after acquiring an additional 65,589 shares in the last quarter. Institutional investors and hedge funds own 63.38% of the company’s stock.

Insider Activity

In other Altair Engineering news, Director Teresa A. Harris sold 2,700 shares of the business’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $111.61, for a total value of $301,347.00. Following the completion of the transaction, the director now directly owns 18,542 shares of the company’s stock, valued at approximately $2,069,472.62. The trade was a 12.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Matthew Charles Brown sold 3,811 shares of the stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $111.53, for a total transaction of $425,040.83. Following the sale, the chief financial officer now directly owns 69,394 shares in the company, valued at $7,739,512.82. This trade represents a 5.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 12,172 shares of company stock worth $1,356,847. 21.75% of the stock is owned by corporate insiders.

Altair Engineering Stock Performance

Shares of ALTR stock opened at $111.85 on Monday. The firm’s fifty day simple moving average is $111.09 and its 200 day simple moving average is $105.67. The firm has a market capitalization of $9.60 billion, a P/E ratio of 657.94, a price-to-earnings-growth ratio of 10.75 and a beta of 1.45. Altair Engineering Inc. has a 1 year low of $75.71 and a 1 year high of $113.12.

Altair Engineering (NASDAQ:ALTR) last posted its quarterly earnings results on Thursday, February 20th. The software reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.15). The business had revenue of $192.63 million for the quarter, compared to analyst estimates of $182.98 million. Altair Engineering had a return on equity of 8.08% and a net margin of 2.13%. Equities research analysts anticipate that Altair Engineering Inc. will post 0.87 EPS for the current fiscal year.

Analyst Ratings Changes

ALTR has been the topic of a number of research reports. Needham & Company LLC reiterated a “hold” rating on shares of Altair Engineering in a report on Friday, February 21st. Rosenblatt Securities reiterated a “neutral” rating and set a $113.00 price target on shares of Altair Engineering in a research note on Monday, February 24th. One investment analyst has rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $100.83.

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.