171,713 Shares in Altair Engineering Inc. (NASDAQ:ALTR) Bought by LMR Partners LLP

LMR Partners LLP acquired a new position in Altair Engineering Inc. (NASDAQ:ALTR) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 171,713 shares of the software’s stock, valued at approximately $18,736,000. LMR Partners LLP owned 0.20% of Altair Engineering at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. NBT Bank N A NY grew its position in shares of Altair Engineering by 76.4% during the 4th quarter. NBT Bank N A NY now owns 247 shares of the software’s stock valued at $27,000 after buying an additional 107 shares during the last quarter. UMB Bank n.a. lifted its holdings in shares of Altair Engineering by 77.0% in the 4th quarter. UMB Bank n.a. now owns 285 shares of the software’s stock worth $31,000 after purchasing an additional 124 shares during the last quarter. Johnson Financial Group Inc. acquired a new position in Altair Engineering during the 4th quarter valued at approximately $37,000. GAMMA Investing LLC grew its stake in 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 buying an additional 93 shares during the last quarter. Finally, Blue Trust Inc. increased its position in Altair Engineering by 185.5% in the fourth quarter. Blue Trust Inc. now owns 825 shares of the software’s stock worth $90,000 after buying an additional 536 shares during the period. Institutional investors own 63.38% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Needham & Company LLC restated a “hold” rating on shares of Altair Engineering in a research report on Friday, February 21st. Rosenblatt Securities restated a “neutral” rating and issued a $113.00 target price on shares of Altair Engineering in a research report on Monday, February 24th. One investment analyst has rated the stock with a sell rating and seven have issued a hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $100.83.

Altair Engineering Price Performance

Shares of ALTR opened at $111.85 on Monday. The firm has a market capitalization of $9.60 billion, a PE ratio of 657.94, a P/E/G ratio of 10.75 and a beta of 1.45. The firm has a 50-day moving average price of $111.74 and a 200 day moving average price of $109.40. Altair Engineering Inc. has a 52-week low of $75.71 and a 52-week high of $113.12.

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 the consensus estimate of $0.51 by ($0.15). Altair Engineering had a net margin of 2.13% and a return on equity of 8.08%. The company had revenue of $192.63 million during the quarter, compared to the consensus estimate of $182.98 million. On average, equities analysts expect that Altair Engineering Inc. will post 0.87 EPS for the current year.

Insider Buying and Selling

In other news, Director Teresa A. Harris sold 2,700 shares of the firm’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $111.61, for a total transaction of $301,347.00. Following the completion of the transaction, 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 transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CRO Nelson Dias sold 1,671 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $111.30, for a total transaction of $185,982.30. Following the completion of the sale, the executive now owns 55,411 shares in the company, valued at $6,167,244.30. The trade was a 2.93% decrease in their ownership of the stock. 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 over the last three months. Company insiders own 21.75% of the company’s stock.

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.