Altair Engineering Inc (NASDAQ:ALTR) CFO Howard N. Morof Sells 4,000 Shares

Altair Engineering Inc (NASDAQ:ALTR) CFO Howard N. Morof sold 4,000 shares of the firm’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $34.90, for a total value of $139,600.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

NASDAQ:ALTR traded down $0.56 during mid-day trading on Thursday, reaching $32.95. 1,750 shares of the stock were exchanged, compared to its average volume of 504,044. The company has a 50 day simple moving average of $39.84 and a 200-day simple moving average of $37.50. The stock has a market capitalization of $2.47 billion, a P/E ratio of 89.27 and a beta of 1.40. 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 1 year low of $25.28 and a 1 year high of $43.99.

Altair Engineering (NASDAQ:ALTR) last released its quarterly earnings results on Thursday, August 8th. The software reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.02. The firm had revenue of $106.80 million for the quarter, compared to the consensus estimate of $108.69 million. Altair Engineering had a return on equity of 9.71% and a net margin of 1.48%. The firm’s quarterly revenue was up 13.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.05 EPS. As a group, research analysts predict that Altair Engineering Inc will post 0.49 EPS for the current year.

Several brokerages have recently weighed in on ALTR. Deutsche Bank lowered Altair Engineering from a “buy” rating to a “hold” rating and set a $36.00 target price on the stock. in a research report on Friday, August 9th. ValuEngine lowered Altair Engineering from a “buy” rating to a “hold” rating in a research report on Saturday, May 18th. Needham & Company LLC reissued a “buy” rating and set a $40.00 target price (down previously from $42.00) on shares of Altair Engineering in a research report on Monday, August 12th. Finally, Zacks Investment Research lowered Altair Engineering from a “hold” rating to a “sell” rating in a research report on Wednesday, August 14th. One equities 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 currently has a consensus rating of “Hold” and an average price target of $39.14.

Large investors have recently added to or reduced their stakes in the stock. Royce & Associates LP grew its stake in Altair Engineering by 22.6% during the 1st quarter. Royce & Associates LP now owns 83,154 shares of the software’s stock worth $3,061,000 after buying an additional 15,338 shares during the last quarter. Well Done LLC grew its stake in Altair Engineering by 0.7% during the 1st quarter. Well Done LLC now owns 52,106 shares of the software’s stock worth $1,918,000 after buying an additional 355 shares during the last quarter. Oppenheimer Asset Management Inc. grew its stake in Altair Engineering by 53.2% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 11,039 shares of the software’s stock worth $406,000 after buying an additional 3,835 shares during the last quarter. Legal & General Group Plc grew its stake in Altair Engineering by 313.6% during the 4th quarter. Legal & General Group Plc now owns 18,869 shares of the software’s stock worth $520,000 after buying an additional 14,307 shares during the last quarter. Finally, Lombard Odier Asset Management USA Corp purchased a new position in Altair Engineering during the 1st quarter worth approximately $2,209,000. Hedge funds and other institutional investors own 45.84% 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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