Lighthouse Investment Partners LLC Raises Stock Position in Altair Engineering Inc. (NASDAQ:ALTR)

Lighthouse Investment Partners LLC raised its stake in shares of Altair Engineering Inc. (NASDAQ:ALTR) by 539.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 67,162 shares of the software’s stock after purchasing an additional 56,662 shares during the quarter. Lighthouse Investment Partners LLC owned approximately 0.08% of Altair Engineering worth $7,328,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ALTR. NBT Bank N A NY boosted its stake in Altair Engineering by 76.4% in the 4th quarter. NBT Bank N A NY now owns 247 shares of the software’s stock worth $27,000 after purchasing an additional 107 shares in the last quarter. UMB Bank n.a. lifted its stake 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 period. Johnson Financial Group Inc. bought a new position in shares of Altair Engineering in the 4th quarter worth approximately $37,000. Blue Trust Inc. raised its stake in Altair Engineering by 185.5% during the 4th quarter. Blue Trust Inc. now owns 825 shares of the software’s stock worth $90,000 after acquiring an additional 536 shares during the period. Finally, IFP Advisors Inc bought a new stake in Altair Engineering during the 4th quarter worth approximately $185,000. 63.38% of the stock is owned by hedge funds and other institutional investors.

Altair Engineering Stock Performance

NASDAQ:ALTR opened at $111.85 on Tuesday. Altair Engineering Inc. has a twelve month low of $75.71 and a twelve month high of $113.12. The company has a market cap of $9.60 billion, a price-to-earnings ratio of 657.94, a price-to-earnings-growth ratio of 10.75 and a beta of 1.45. The stock has a fifty day simple moving average of $111.75 and a 200-day simple moving average of $109.46.

Altair Engineering (NASDAQ:ALTR) last released its quarterly earnings data 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 the consensus estimate of $182.98 million. Altair Engineering had a net margin of 2.13% and a return on equity of 8.08%. As a group, equities research analysts predict that Altair Engineering Inc. will post 0.87 EPS for the current fiscal year.

Insider Activity

In other Altair Engineering news, Director Teresa A. Harris sold 2,700 shares of the business’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $111.61, for a total transaction of $301,347.00. Following the sale, the director now owns 18,542 shares of the company’s stock, valued at approximately $2,069,472.62. The trade was a 12.71% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Matthew Charles Brown sold 3,811 shares of the business’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $111.53, for a total transaction of $425,040.83. Following the sale, the chief financial officer now directly owns 69,394 shares in the company, valued at approximately $7,739,512.82. This represents a 5.21% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 12,172 shares of company stock worth $1,356,847. Corporate insiders own 21.75% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on ALTR shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Altair Engineering in a report on Friday, February 21st. Rosenblatt Securities reissued a “neutral” rating and issued a $113.00 target price on shares of Altair Engineering in a report on Monday, February 24th. One analyst has rated the stock with a sell rating and seven have given a hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target 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.