Thrivent Financial for Lutherans Acquires 104 Shares of Altair Engineering Inc. (NASDAQ:ALTR)

Thrivent Financial for Lutherans raised its stake in shares of Altair Engineering Inc. (NASDAQ:ALTR) by 0.7% in the fourth quarter, Holdings Channel.com reports. The firm owned 14,065 shares of the software’s stock after buying an additional 104 shares during the period. Thrivent Financial for Lutherans’ holdings in Altair Engineering were worth $1,535,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. NBT Bank N A NY lifted its holdings in shares of Altair Engineering by 76.4% in the fourth quarter. NBT Bank N A NY now owns 247 shares of the software’s stock valued at $27,000 after purchasing an additional 107 shares in the last quarter. UMB Bank n.a. raised its position in Altair Engineering by 77.0% in the 4th quarter. UMB Bank n.a. now owns 285 shares of the software’s stock valued at $31,000 after buying an additional 124 shares during the last quarter. GAMMA Investing LLC lifted its stake in Altair Engineering by 14.6% during the 4th quarter. GAMMA Investing LLC now owns 729 shares of the software’s stock valued at $80,000 after acquiring an additional 93 shares in the last quarter. Blue Trust Inc. boosted its holdings 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 last quarter. Finally, IFP Advisors Inc bought a new stake in shares of Altair Engineering in the 4th quarter worth $185,000. 63.38% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Insider Buying and Selling at Altair Engineering

In related news, CMO Amy Messano sold 235 shares of the company’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $111.53, for a total transaction of $26,209.55. Following the sale, the chief marketing officer now directly owns 23,651 shares in the company, valued at approximately $2,637,796.03. This represents a 0.98 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Matthew Charles Brown sold 3,811 shares of the firm’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 completion of the transaction, the chief financial officer now directly owns 69,394 shares of the company’s stock, valued at approximately $7,739,512.82. This trade represents a 5.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 12,172 shares of company stock valued at $1,356,847. Company insiders own 21.75% of the company’s stock.

Altair Engineering Stock Performance

ALTR opened at $111.85 on Monday. Altair Engineering Inc. has a fifty-two week low of $75.71 and a fifty-two week high of $113.12. The firm has a 50-day moving average of $111.09 and a 200 day moving average of $105.67. The firm has a market cap of $9.60 billion, a P/E ratio of 657.94, a PEG ratio of 10.75 and a beta of 1.45.

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 analysts’ consensus estimates of $0.51 by ($0.15). The company had revenue of $192.63 million for 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%. Equities research analysts predict that Altair Engineering Inc. will post 0.87 earnings per share for the current fiscal 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.