George J. Christ Sells 97,824 Shares of Altair Engineering Inc. (NASDAQ:ALTR) Stock

Altair Engineering Inc. (NASDAQ:ALTR) major shareholder George J. Christ sold 97,824 shares of the company’s stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $95.23, for a total value of $9,315,779.52. Following the completion of the transaction, the insider now directly owns 302,176 shares of the company’s stock, valued at approximately $28,776,220.48. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Altair Engineering Stock Up 0.7 %

NASDAQ ALTR opened at $94.88 on Thursday. The stock has a 50 day moving average price of $91.12 and a 200-day moving average price of $89.99. Altair Engineering Inc. has a one year low of $57.59 and a one year high of $101.39. The company has a debt-to-equity ratio of 0.29, a quick ratio of 3.14 and a current ratio of 3.14. The company has a market capitalization of $7.88 billion, a P/E ratio of 1,054.22, a P/E/G ratio of 12.15 and a beta of 1.45.

Altair Engineering (NASDAQ:ALTR) last released its quarterly earnings data on Thursday, August 1st. The software reported $0.16 EPS for the quarter, beating the consensus estimate of $0.15 by $0.01. Altair Engineering had a net margin of 4.26% and a return on equity of 6.89%. The business had revenue of $148.80 million during the quarter, compared to analyst estimates of $146.88 million. During the same quarter last year, the business earned ($0.15) earnings per share. Altair Engineering’s quarterly revenue was up 5.4% compared to the same quarter last year. As a group, equities analysts predict that Altair Engineering Inc. will post 0.65 EPS for the current fiscal year.

Analyst Ratings Changes

ALTR has been the subject of a number of research analyst reports. JPMorgan Chase & Co. lowered shares of Altair Engineering from an “overweight” rating to a “neutral” rating and set a $95.00 price objective for the company. in a report on Monday, July 15th. Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 target price on shares of Altair Engineering in a research note on Friday, August 2nd. Finally, The Goldman Sachs Group cut shares of Altair Engineering from a “neutral” rating to a “sell” rating and decreased their price target for the stock from $85.00 to $71.00 in a research note on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $90.67.

Institutional Investors Weigh In On Altair Engineering

Large investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC lifted its stake in shares of Altair Engineering by 81.7% in the 2nd quarter. GAMMA Investing LLC now owns 418 shares of the software’s stock valued at $41,000 after purchasing an additional 188 shares during the last quarter. FSC Wealth Advisors LLC lifted its position in Altair Engineering by 41.3% in the second quarter. FSC Wealth Advisors LLC now owns 832 shares of the software’s stock worth $82,000 after buying an additional 243 shares during the last quarter. Van ECK Associates Corp boosted its stake in Altair Engineering by 41.7% during the second quarter. Van ECK Associates Corp now owns 1,057 shares of the software’s stock worth $104,000 after buying an additional 311 shares during the period. SG Americas Securities LLC bought a new position in Altair Engineering during the first quarter valued at $177,000. Finally, Ballentine Partners LLC purchased a new stake in shares of Altair Engineering in the second quarter valued at $202,000. 63.38% of the stock is owned by institutional investors.

About Altair Engineering

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.