Altair Engineering Inc (ALTR) President Sells $272,971.74 in Stock

Altair Engineering Inc (NASDAQ:ALTR) President Brett R. Chouinard sold 7,998 shares of the firm’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $34.13, for a total value of $272,971.74. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Shares of ALTR stock traded up $0.48 during midday trading on Thursday, hitting $36.43. The company had a trading volume of 17,720 shares, compared to its average volume of 209,099. Altair Engineering Inc has a 52-week low of $25.28 and a 52-week high of $43.99. The company has a market capitalization of $2.52 billion, a P/E ratio of 98.57 and a beta of 1.60. 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 (NASDAQ:ALTR) last announced its earnings results on Thursday, May 9th. The software reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.04. Altair Engineering had a return on equity of 11.56% and a net margin of 2.62%. The company had revenue of $127.86 million for the quarter, compared to the consensus estimate of $125.82 million. During the same period last year, the business posted $0.35 EPS. The company’s revenue was up 12.9% on a year-over-year basis. As a group, equities analysts predict that Altair Engineering Inc will post 0.45 earnings per share for the current fiscal year.

Several institutional investors have recently bought and sold shares of the stock. Hilton Capital Management LLC purchased a new stake in shares of Altair Engineering in the first quarter valued at $50,000. NumerixS Investment Technologies Inc acquired a new position in shares of Altair Engineering in the fourth quarter worth about $78,000. Acadian Asset Management LLC acquired a new position in shares of Altair Engineering in the first quarter worth about $163,000. Legal & General Group Plc lifted its stake 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 acquiring an additional 850 shares in the last quarter. Finally, BNP Paribas Arbitrage SA lifted its stake in shares of Altair Engineering by 1,026.5% in the first quarter. BNP Paribas Arbitrage SA now owns 5,689 shares of the software’s stock worth $209,000 after acquiring an additional 5,184 shares in the last quarter. Hedge funds and other institutional investors own 38.47% of the company’s stock.

A number of research firms recently issued reports on ALTR. Zacks Investment Research upgraded Altair Engineering from a “sell” rating to a “hold” rating in a research note on Monday, May 6th. Guggenheim assumed coverage on Altair Engineering in a research note on Tuesday, March 19th. They issued a “neutral” rating and a $37.70 target price on the stock. Needham & Company LLC lifted their target price on Altair Engineering from $40.00 to $42.00 and gave the company a “buy” rating in a research note on Thursday, March 14th. Finally, ValuEngine upgraded Altair Engineering from a “hold” rating to a “buy” rating in a research note on Monday, February 4th. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Altair Engineering has an average rating of “Hold” and a consensus price target of $38.67.

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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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