Centiva Capital LP Acquires New Stake in Altair Engineering Inc. (NASDAQ:ALTR)

Centiva Capital LP acquired a new position in shares of Altair Engineering Inc. (NASDAQ:ALTR) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 30,295 shares of the software’s stock, valued at approximately $3,305,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Retirement Systems of Alabama increased its holdings in Altair Engineering by 2.7% during the 3rd quarter. Retirement Systems of Alabama now owns 72,191 shares of the software’s stock worth $6,895,000 after purchasing an additional 1,904 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Altair Engineering by 14.6% during the 4th quarter. GAMMA Investing LLC now owns 729 shares of the software’s stock worth $80,000 after purchasing an additional 93 shares during the period. Harbor Capital Advisors Inc. boosted its holdings in Altair Engineering by 16.6% during the fourth quarter. Harbor Capital Advisors Inc. now owns 11,678 shares of the software’s stock valued at $1,274,000 after purchasing an additional 1,661 shares in the last quarter. PFW Advisors LLC acquired a new position in Altair Engineering during the 4th quarter worth about $227,000. Finally, UMB Bank n.a. grew its position in shares of Altair Engineering by 77.0% during the 4th quarter. UMB Bank n.a. now owns 285 shares of the software’s stock worth $31,000 after buying an additional 124 shares during the period. Hedge funds and other institutional investors own 63.38% of the company’s stock.

Insider Buying and Selling at Altair Engineering

In related news, CFO Matthew Charles Brown sold 3,811 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $111.53, for a total transaction of $425,040.83. Following the completion of the sale, the chief financial officer now owns 69,394 shares in the company, valued at approximately $7,739,512.82. This trade represents a 5.21 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Teresa A. Harris sold 450 shares of the stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $111.08, for a total transaction of $49,986.00. Following the transaction, the director now directly owns 18,092 shares of the company’s stock, valued at $2,009,659.36. This represents a 2.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 12,172 shares of company stock worth $1,356,847. Insiders own 21.75% of the company’s stock.

Wall Street Analyst Weigh In

ALTR has been the subject of a number of analyst reports. Rosenblatt Securities reissued a “neutral” rating and issued a $113.00 price objective on shares of Altair Engineering in a research report on Monday, February 24th. Needham & Company LLC restated a “hold” rating on shares of Altair Engineering in a research report on Friday, February 21st. One analyst has rated the stock with a sell rating and seven have issued a hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $100.83.

Altair Engineering Stock Performance

Shares of NASDAQ ALTR opened at $111.85 on Tuesday. The stock has a market cap of $9.60 billion, a price-to-earnings ratio of 657.94, a PEG ratio of 10.75 and a beta of 1.45. Altair Engineering Inc. has a fifty-two week low of $75.71 and a fifty-two week high of $113.12. The firm’s 50-day simple moving average is $111.71 and its 200 day simple moving average is $109.14.

Altair Engineering (NASDAQ:ALTR) last posted its quarterly earnings data on Thursday, February 20th. The software reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.15). The firm had revenue of $192.63 million for the quarter, compared to analysts’ expectations of $182.98 million. Altair Engineering had a return on equity of 8.08% and a net margin of 2.13%. On average, sell-side analysts predict that Altair Engineering Inc. will post 0.87 EPS for the current year.

Altair Engineering Profile

Altair Engineering Inc, together with its subsidiaries, provides software and cloud solutions in the areas of simulation and design, high-performance computing, data analytics, and artificial intelligence in the United States and internationally. It operates in two segments, Software and Client Engineering Services.