Altair Engineering Inc (NASDAQ:ALTR) Major Shareholder Sells $3,248,800.00 in Stock

Altair Engineering Inc (NASDAQ:ALTR) major shareholder R. Scapa Declaration Of James sold 80,000 shares of Altair Engineering stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $40.61, for a total transaction of $3,248,800.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Shares of Altair Engineering stock traded down $0.95 on Monday, reaching $39.69. The stock had a trading volume of 416,200 shares, compared to its average volume of 314,548. The stock’s 50 day moving average price is $41.07. The stock has a market capitalization of $2.89 billion, a P/E ratio of 107.27 and a beta of 1.40. The company has a current ratio of 1.09, a quick ratio of 1.06 and a debt-to-equity ratio of 0.12. Altair Engineering Inc has a 1 year low of $25.28 and a 1 year high of $43.99.

Altair Engineering (NASDAQ:ALTR) last posted its quarterly earnings results on Thursday, May 9th. The software reported $0.26 EPS for the quarter, topping the consensus estimate of $0.22 by $0.04. The firm had revenue of $127.86 million for the quarter, compared to the consensus estimate of $125.82 million. Altair Engineering had a net margin of 2.62% and a return on equity of 11.56%. The business’s revenue was up 12.9% compared to the same quarter last year. During the same period last year, the firm posted $0.35 earnings per share. On average, research analysts forecast that Altair Engineering Inc will post 0.52 EPS for the current fiscal year.

A number of equities research analysts have weighed in on the stock. Zacks Investment Research lowered shares of Altair Engineering from a “buy” rating to a “hold” rating in a report on Tuesday, July 23rd. ValuEngine downgraded shares of Altair Engineering from a “buy” rating to a “hold” rating in a research report on Saturday, May 18th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $40.28.

Large investors have recently added to or reduced their stakes in the stock. California Public Employees Retirement System boosted its stake in Altair Engineering by 173.0% during the fourth quarter. California Public Employees Retirement System now owns 15,779 shares of the software’s stock worth $435,000 after buying an additional 10,000 shares during the last quarter. Dimensional Fund Advisors LP acquired a new position in Altair Engineering during the 4th quarter worth $536,000. Geode Capital Management LLC boosted its position in shares of Altair Engineering by 10.6% during the 4th quarter. Geode Capital Management LLC now owns 310,603 shares of the software’s stock worth $8,566,000 after acquiring an additional 29,726 shares in the last quarter. Bank of America Corp DE boosted its position in shares of Altair Engineering by 19.7% during the 4th quarter. Bank of America Corp DE now owns 44,284 shares of the software’s stock worth $1,222,000 after acquiring an additional 7,282 shares in the last quarter. Finally, Squarepoint Ops LLC boosted its position in shares of Altair Engineering by 246.8% during the 4th quarter. Squarepoint Ops LLC now owns 25,661 shares of the software’s stock worth $708,000 after acquiring an additional 18,261 shares in the last quarter. Institutional investors and hedge funds own 38.76% of the company’s stock.

About Altair Engineering

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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