D. E. Shaw & Co. Inc. cut its position in Altair Engineering Inc (NASDAQ:ALTR) by 53.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 107,845 shares of the software’s stock after selling 124,621 shares during the quarter. D. E. Shaw & Co. Inc. owned 0.15% of Altair Engineering worth $2,974,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also modified their holdings of the business. NumerixS Investment Technologies Inc purchased a new stake in shares of Altair Engineering in the fourth quarter worth approximately $78,000. Legal & General Group Plc lifted its position in shares of Altair Engineering by 22.9% in the third quarter. Legal & General Group Plc now owns 4,562 shares of the software’s stock worth $198,000 after purchasing an additional 850 shares in the last quarter. Oppenheimer Asset Management Inc. purchased a new stake in shares of Altair Engineering in the fourth quarter worth approximately $199,000. Invictus RG purchased a new stake in shares of Altair Engineering in the third quarter worth approximately $293,000. Finally, Tibra Equities Europe Ltd purchased a new stake in shares of Altair Engineering in the fourth quarter worth approximately $334,000. 38.18% of the stock is currently owned by institutional investors.
ALTR has been the topic of several recent research reports. Needham & Company LLC raised their price objective on shares of Altair Engineering from $40.00 to $42.00 and gave the company a “buy” rating in a research report on Thursday, March 14th. Zacks Investment Research lowered shares of Altair Engineering from a “buy” rating to a “hold” rating in a research report on Monday, March 18th. Guggenheim initiated coverage on shares of Altair Engineering in a research report on Tuesday, March 19th. They set a “neutral” rating and a $37.70 price objective on the stock. Finally, ValuEngine raised shares of Altair Engineering from a “hold” rating to a “buy” rating in a research report on Monday, February 4th. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Altair Engineering currently has a consensus rating of “Hold” and an average target price of $38.67.
ALTR stock traded up $0.18 during midday trading on Wednesday, hitting $38.99. 199,800 shares of the company traded hands, compared to its average volume of 211,779. Altair Engineering Inc has a twelve month low of $25.28 and a twelve month high of $43.99. The company has a quick ratio of 1.19, a current ratio of 1.21 and a debt-to-equity ratio of 0.11. The company has a market cap of $2.60 billion, a PE ratio of 105.38 and a beta of 1.62.
Altair Engineering (NASDAQ:ALTR) last announced its quarterly earnings data on Thursday, February 28th. The software reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.05). The company had revenue of $103.01 million during the quarter, compared to analyst estimates of $99.27 million. Altair Engineering had a return on equity of 8.25% and a net margin of 0.50%. As a group, equities analysts expect that Altair Engineering Inc will post 0.45 EPS for the current fiscal year.
Altair Engineering Profile
Altair Engineering Inc, together with its subsidiaries, provides software and cloud solutions worldwide. The company operates through two segments, Software and Client Engineering Services. Its integrated suite of multi-disciplinary computer aided engineering software optimizes design performance across various disciplines, including structures, motion, fluids, thermal management, electromagnetics, system modeling and embedded systems.
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