22,555 Shares in Altair Engineering Inc. (NASDAQ:ALTR) Acquired by Brevan Howard Capital Management LP

Brevan Howard Capital Management LP bought a new stake in Altair Engineering Inc. (NASDAQ:ALTR) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 22,555 shares of the software’s stock, valued at approximately $2,461,000.

Several other large investors also recently added to or reduced their stakes in the stock. Bardin Hill Management Partners LP acquired a new position in shares of Altair Engineering during the 4th quarter valued at about $1,379,000. Anson Funds Management LP acquired a new position in Altair Engineering in the 4th quarter valued at about $5,465,000. Mercer Global Advisors Inc. ADV purchased a new stake in shares of Altair Engineering in the 4th quarter valued at approximately $7,959,000. One68 Global Capital LLC acquired a new stake in shares of Altair Engineering during the 4th quarter worth approximately $15,280,000. Finally, Schonfeld Strategic Advisors LLC raised its position in shares of Altair Engineering by 13,097.8% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 331,528 shares of the software’s stock valued at $36,173,000 after buying an additional 329,016 shares during the period. 63.38% of the stock is currently owned by hedge funds and other institutional investors.

Altair Engineering Stock Performance

Shares of NASDAQ ALTR opened at $111.85 on Wednesday. The stock has a market capitalization of $9.60 billion, a PE ratio of 657.94, a PEG ratio of 10.75 and a beta of 1.45. Altair Engineering Inc. has a twelve month low of $75.71 and a twelve month high of $113.12. The stock has a fifty day simple moving average of $111.71 and a 200-day simple moving average of $109.16.

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

Insider Buying and Selling

In related news, CFO Matthew Charles Brown sold 3,811 shares of Altair Engineering stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $111.53, for a total value of $425,040.83. Following the completion of the transaction, the chief financial officer now directly 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 document filed with the SEC, which is accessible through this hyperlink. Also, Director Teresa A. Harris sold 2,700 shares of the company’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $111.61, for a total value of $301,347.00. Following the sale, the director now owns 18,542 shares in the company, valued at approximately $2,069,472.62. This trade represents a 12.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 12,172 shares of company stock valued at $1,356,847 in the last ninety days. Company insiders own 21.75% of the company’s stock.

Wall Street Analysts Forecast Growth

ALTR has been the subject of several recent analyst reports. Needham & Company LLC reissued a “hold” rating on shares of Altair Engineering in a research note on Friday, February 21st. Rosenblatt Securities reissued a “neutral” rating and set a $113.00 price objective on shares of Altair Engineering in a research report on Monday, February 24th. One equities research analyst has rated the stock with a sell rating and seven have assigned a hold rating to the stock. According to MarketBeat.com, Altair Engineering presently has an average rating of “Hold” and a consensus target price of $100.83.

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.