Altair Engineering Inc (NASDAQ:ALTR) Insider Sells $84,875.00 in Stock

Altair Engineering Inc (NASDAQ:ALTR) insider Martin E. Nichols sold 2,500 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $33.95, for a total transaction of $84,875.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Altair Engineering stock opened at $33.51 on Thursday. The company’s fifty day simple moving average is $39.84 and its 200-day simple moving average is $37.50. The company has a quick ratio of 2.58, a current ratio of 2.58 and a debt-to-equity ratio of 0.54. Altair Engineering Inc has a 12 month low of $25.28 and a 12 month high of $43.99. The stock has a market cap of $2.47 billion, a P/E ratio of 90.57 and a beta of 1.40.

Altair Engineering (NASDAQ:ALTR) last posted its quarterly earnings results on Thursday, August 8th. The software reported $0.06 EPS for the quarter, beating the consensus estimate of $0.04 by $0.02. Altair Engineering had a net margin of 1.48% and a return on equity of 9.71%. The business had revenue of $106.80 million for the quarter, compared to analysts’ expectations of $108.69 million. During the same period in the previous year, the company posted $0.05 EPS. Altair Engineering’s revenue was up 13.7% on a year-over-year basis. On average, equities research analysts expect that Altair Engineering Inc will post 0.49 earnings per share for the current fiscal year.

Several equities analysts have recently commented on the stock. Deutsche Bank cut shares of Altair Engineering from a “buy” rating to a “hold” rating and set a $36.00 price target on the stock. in a report on Friday, August 9th. Zacks Investment Research cut shares of Altair Engineering from a “hold” rating to a “sell” rating in a report on Wednesday, August 14th. ValuEngine cut shares of Altair Engineering from a “buy” rating to a “hold” rating in a report on Saturday, May 18th. Finally, Needham & Company LLC restated a “buy” rating and set a $40.00 price target (down from $42.00) on shares of Altair Engineering in a report on Monday, August 12th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company’s stock. Altair Engineering has an average rating of “Hold” and an average price target of $39.14.

Several hedge funds have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP acquired a new stake in shares of Altair Engineering in the 4th quarter worth approximately $536,000. Bank of America Corp DE grew its holdings in Altair Engineering by 19.7% during the 4th quarter. Bank of America Corp DE now owns 44,284 shares of the software’s stock valued at $1,222,000 after buying an additional 7,282 shares during the last quarter. Legal & General Group Plc grew its holdings in Altair Engineering by 313.6% during the 4th quarter. Legal & General Group Plc now owns 18,869 shares of the software’s stock valued at $520,000 after buying an additional 14,307 shares during the last quarter. Deutsche Bank AG grew its holdings in Altair Engineering by 34.6% during the 4th quarter. Deutsche Bank AG now owns 81,545 shares of the software’s stock valued at $2,248,000 after buying an additional 20,967 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. grew its holdings in Altair Engineering by 53.2% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 11,039 shares of the software’s stock valued at $406,000 after buying an additional 3,835 shares during the last quarter. 45.84% of the stock is owned by institutional investors and hedge funds.

Altair Engineering Company 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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Insider Buying and Selling by Quarter for Altair Engineering (NASDAQ:ALTR)

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