Altair Engineering Inc. (NASDAQ:ALTR) Shares Purchased by Acadian Asset Management LLC

Acadian Asset Management LLC raised its holdings in Altair Engineering Inc. (NASDAQ:ALTR) by 1,309.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 99,351 shares of the software’s stock after acquiring an additional 92,302 shares during the period. Acadian Asset Management LLC owned approximately 0.12% of Altair Engineering worth $8,552,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Wellington Management Group LLP lifted 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 worth $99,494,000 after buying an additional 583,127 shares in the last quarter. Matrix Capital Management Company LP grew its holdings in shares of Altair Engineering by 8.3% in 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 purchasing an additional 932,717 shares during the period. Bain Capital Public Equity LP acquired a new stake in Altair Engineering during the fourth quarter worth about $6,376,000. Versor Investments LP purchased a new position in Altair Engineering during the fourth quarter worth about $298,000. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in Altair Engineering by 33.4% in the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 85,000 shares of the software’s stock valued at $7,153,000 after purchasing an additional 21,300 shares during the last quarter. 63.38% of the stock is owned by hedge funds and other institutional investors.

Altair Engineering Trading Up 1.2 %

Shares of ALTR traded up $1.08 during midday trading on Monday, hitting $90.81. 238,918 shares of the stock were exchanged, compared to its average volume of 496,373. Altair Engineering Inc. has a 52-week low of $57.59 and a 52-week high of $101.39. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.46 and a current ratio of 2.46. The stock has a fifty day simple moving average of $93.83 and a 200 day simple moving average of $87.86. The firm has a market cap of $7.54 billion, a P/E ratio of 997.00, a P/E/G ratio of 11.29 and a beta of 1.48.

Altair Engineering (NASDAQ:ALTR) last announced its earnings results on Thursday, May 2nd. The software reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.06. The company had revenue of $172.91 million during the quarter, compared to analysts’ expectations of $169.29 million. Altair Engineering had a return on equity of 5.60% and a net margin of 1.55%. Altair Engineering’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same period last year, the business posted $0.13 EPS. On average, research analysts anticipate that Altair Engineering Inc. will post 0.66 EPS for the current fiscal year.

Insider Activity

In other Altair Engineering news, major shareholder George J. Christ sold 87,217 shares of the stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $85.12, for a total transaction of $7,423,911.04. Following the sale, the insider now directly owns 100,000 shares in the company, valued at approximately $8,512,000. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, major shareholder George J. Christ sold 87,217 shares of the business’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $85.12, for a total transaction of $7,423,911.04. Following the completion of the transaction, the insider now directly owns 100,000 shares of the company’s stock, valued at approximately $8,512,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 value of $51,391.80. Following the completion of the sale, the director now directly owns 18,895 shares in the company, valued at approximately $1,566,206.55. The disclosure for this sale can be found here. Over the last quarter, insiders sold 467,254 shares of company stock valued at $43,396,100. 21.75% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

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

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.