Brett R. Chouinard Sells 3,000 Shares of Altair Engineering Inc (NASDAQ:ALTR) Stock

Altair Engineering Inc (NASDAQ:ALTR) insider Brett R. Chouinard sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $41.05, for a total value of $123,150.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Brett R. Chouinard also recently made the following trade(s):

  • On Thursday, August 20th, Brett R. Chouinard sold 3,000 shares of Altair Engineering stock. The shares were sold at an average price of $41.59, for a total value of $124,770.00.
  • On Thursday, August 13th, Brett R. Chouinard sold 3,000 shares of Altair Engineering stock. The stock was sold at an average price of $40.47, for a total value of $121,410.00.
  • On Thursday, July 30th, Brett R. Chouinard sold 3,000 shares of Altair Engineering stock. The stock was sold at an average price of $39.83, for a total value of $119,490.00.

Shares of Altair Engineering stock opened at $39.70 on Wednesday. The stock has a fifty day moving average price of $40.53 and a 200-day moving average price of $35.36. Altair Engineering Inc has a 1 year low of $23.04 and a 1 year high of $44.34. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 0.52.

Altair Engineering (NASDAQ:ALTR) last released its quarterly earnings data on Thursday, August 6th. The software reported ($0.02) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.02). The firm had revenue of $98.50 million during the quarter, compared to analyst estimates of $94.13 million. Altair Engineering had a negative return on equity of 0.33% and a negative net margin of 4.76%. The business’s quarterly revenue was down 7.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.06 earnings per share. As a group, equities research analysts expect that Altair Engineering Inc will post -0.24 EPS for the current year.

Institutional investors and hedge funds have recently made changes to their positions in the company. Principal Financial Group Inc. acquired a new position in shares of Altair Engineering during the 2nd quarter valued at $276,000. Charles Schwab Investment Management Inc. boosted its stake in Altair Engineering by 9.6% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 266,493 shares of the software’s stock worth $10,594,000 after acquiring an additional 23,377 shares during the last quarter. California State Teachers Retirement System raised its holdings in shares of Altair Engineering by 4.1% in the second quarter. California State Teachers Retirement System now owns 63,303 shares of the software’s stock valued at $2,516,000 after purchasing an additional 2,507 shares during the last quarter. Captrust Financial Advisors bought a new position in Altair Engineering during the second quarter worth $64,000. Finally, Glenmede Trust Co. NA boosted its position in shares of Altair Engineering by 381.6% in the second quarter. Glenmede Trust Co. NA now owns 10,787 shares of the software’s stock valued at $428,000 after acquiring an additional 8,547 shares during the period. Institutional investors and hedge funds own 53.20% of the company’s stock.

A number of research firms recently commented on ALTR. JPMorgan Chase & Co. upgraded Altair Engineering from an “underweight” rating to a “neutral” rating and upped their price objective for the company from $40.00 to $46.00 in a research report on Friday, August 7th. Zacks Investment Research cut Altair Engineering from a “hold” rating to a “sell” rating in a research report on Thursday, August 13th. Royal Bank of Canada restated a “hold” rating on shares of Altair Engineering in a research note on Thursday, September 10th. Guggenheim raised Altair Engineering from a “sell” rating to a “neutral” rating in a research report on Thursday, September 10th. Finally, Benchmark assumed coverage on shares of Altair Engineering in a research note on Friday, June 5th. They issued a “hold” rating for the company. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $37.75.

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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