Jane Street Group LLC Raises Holdings in Altair Engineering Inc. (NASDAQ:ALTR)

Jane Street Group LLC grew its position in Altair Engineering Inc. (NASDAQ:ALTR) by 960.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 303,672 shares of the software’s stock after buying an additional 275,030 shares during the quarter. Jane Street Group LLC owned 0.37% of Altair Engineering worth $26,161,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. EdgeRock Capital LLC purchased a new stake in shares of Altair Engineering in the 4th quarter worth $33,000. Harvest Fund Management Co. Ltd lifted its holdings 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 buying an additional 903 shares during the period. Natixis Investment Managers International lifted its holdings in shares of Altair Engineering by 68.7% in the 4th quarter. Natixis Investment Managers International now owns 1,940 shares of the software’s stock worth $163,000 after buying an additional 790 shares during the period. SG Americas Securities LLC purchased a new stake in shares of Altair Engineering in the 1st quarter worth $177,000. Finally, MQS Management LLC purchased a new stake in shares of Altair Engineering in the 1st quarter worth $203,000. 63.38% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CAO Brian Gayle sold 773 shares of the stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $90.10, for a total value of $69,647.30. Following the transaction, the chief accounting officer now directly owns 18,423 shares of the company’s stock, valued at $1,659,912.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CAO Brian Gayle sold 773 shares of the stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $90.10, for a total value of $69,647.30. Following the transaction, the chief accounting officer now directly owns 18,423 shares of the company’s stock, valued at $1,659,912.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder George J. Christ sold 100,000 shares of the stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $97.23, for a total value of $9,723,000.00. Following the completion of the transaction, the insider now directly owns 100,000 shares in the company, valued at $9,723,000. The disclosure for this sale can be found here. Over the last three months, insiders have sold 486,754 shares of company stock valued at $45,114,245. Company insiders own 21.75% of the company’s stock.

Altair Engineering Stock Down 1.6 %

NASDAQ:ALTR traded down $1.44 during mid-day trading on Thursday, hitting $86.92. 75,282 shares of the company’s stock traded hands, compared to its average volume of 494,479. The company has a fifty day moving average of $93.65 and a 200 day moving average of $88.18. Altair Engineering Inc. has a twelve month low of $57.59 and a twelve month high of $101.39. The company has a market capitalization of $7.22 billion, a P/E ratio of 981.78, a P/E/G ratio of 10.92 and a beta of 1.48. 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) last announced its earnings results on Thursday, May 2nd. The software reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.06. Altair Engineering had a return on equity of 5.60% and a net margin of 1.55%. The company had revenue of $172.91 million for the quarter, compared to analyst estimates of $169.29 million. During the same period in the prior year, the company posted $0.13 EPS. The firm’s quarterly revenue was up 4.1% compared to the same quarter last year. On average, analysts forecast that Altair Engineering Inc. will post 0.66 EPS for the current year.

Analyst Ratings Changes

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

Altair Engineering 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.