Moody Aldrich Partners LLC Boosts Position in Altair Engineering Inc. (NASDAQ:ALTR)

Moody Aldrich Partners LLC grew its stake in shares of Altair Engineering Inc. (NASDAQ:ALTR) by 15.2% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 75,233 shares of the software’s stock after acquiring an additional 9,907 shares during the period. Altair Engineering comprises 1.3% of Moody Aldrich Partners LLC’s portfolio, making the stock its 21st biggest holding. Moody Aldrich Partners LLC’s holdings in Altair Engineering were worth $7,186,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC grew its stake in Altair Engineering by 52.2% during the third quarter. GAMMA Investing LLC now owns 636 shares of the software’s stock valued at $61,000 after acquiring an additional 218 shares in the last quarter. Russell Investments Group Ltd. grew its position in shares of Altair Engineering by 5,564.8% during the 1st quarter. Russell Investments Group Ltd. now owns 31,043 shares of the software’s stock valued at $2,676,000 after purchasing an additional 30,495 shares in the last quarter. Linden Thomas Advisory Services LLC bought a new position in shares of Altair Engineering in the second quarter worth $629,000. Jane Street Group LLC raised its position in shares of Altair Engineering by 960.2% in the first quarter. Jane Street Group LLC now owns 303,672 shares of the software’s stock worth $26,161,000 after buying an additional 275,030 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake 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 buying an additional 182,840 shares during the period. 63.38% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Teresa A. Harris sold 620 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $82.57, for a total transaction of $51,193.40. Following the transaction, the director now directly owns 21,242 shares of the company’s stock, valued at approximately $1,753,951.94. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Altair Engineering news, CEO James Ralph Scapa sold 13,000 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $88.11, for a total value of $1,145,430.00. Following the completion of the sale, the chief executive officer now owns 134,045 shares in the company, valued at approximately $11,810,704.95. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Teresa A. Harris sold 620 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $82.57, for a total value of $51,193.40. Following the sale, the director now directly owns 21,242 shares of the company’s stock, valued at approximately $1,753,951.94. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 260,360 shares of company stock valued at $24,537,300 over the last three months. Insiders own 21.75% of the company’s stock.

Altair Engineering Price Performance

NASDAQ:ALTR traded down $0.56 during mid-day trading on Thursday, reaching $106.09. The stock had a trading volume of 97,231 shares, compared to its average volume of 469,032. The stock has a market capitalization of $8.81 billion, a P/E ratio of 1,185.00, a P/E/G ratio of 12.15 and a beta of 1.45. The firm has a 50 day moving average price of $92.15 and a two-hundred day moving average price of $90.52. The company has a debt-to-equity ratio of 0.29, a quick ratio of 3.14 and a current ratio of 3.14. Altair Engineering Inc. has a one year low of $57.59 and a one year high of $112.15.

Altair Engineering (NASDAQ:ALTR) last announced its quarterly earnings data on Thursday, August 1st. The software reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.01. Altair Engineering had a net margin of 4.26% and a return on equity of 6.89%. The firm had revenue of $148.80 million during the quarter, compared to analyst estimates of $146.88 million. During the same period in the previous year, the business posted ($0.15) EPS. The business’s quarterly revenue was up 5.4% on a year-over-year basis. As a group, analysts expect that Altair Engineering Inc. will post 0.65 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have weighed in on ALTR. Needham & Company LLC restated a “buy” rating and issued a $100.00 target price on shares of Altair Engineering in a research note on Friday, August 2nd. The Goldman Sachs Group lowered Altair Engineering from a “neutral” rating to a “sell” rating and cut their price objective for the stock from $85.00 to $71.00 in a report on Friday, August 2nd. JPMorgan Chase & Co. lowered shares of Altair Engineering from an “overweight” rating to a “neutral” rating and set a $95.00 target price for the company. in a research report on Monday, July 15th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $90.00 price target on shares of Altair Engineering in a report on Wednesday. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $90.67.

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.