Harvest Fund Management Co. Ltd Increases Holdings in Altair Engineering Inc. (NASDAQ:ALTR)

Harvest Fund Management Co. Ltd raised its holdings in Altair Engineering Inc. (NASDAQ:ALTR) by 1,157.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 981 shares of the software’s stock after purchasing an additional 903 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Altair Engineering were worth $83,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. McGlone Suttner Wealth Management Inc. acquired a new stake in shares of Altair Engineering in the fourth quarter valued at $31,000. Allspring Global Investments Holdings LLC grew its stake in shares of Altair Engineering by 10.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,991 shares of the software’s stock valued at $125,000 after buying an additional 190 shares in the last quarter. SG Americas Securities LLC grew its stake in Altair Engineering by 31.3% during the 3rd quarter. SG Americas Securities LLC now owns 2,171 shares of the software’s stock worth $136,000 after purchasing an additional 518 shares in the last quarter. Legato Capital Management LLC acquired a new position in Altair Engineering during the 4th quarter worth $217,000. Finally, Raymond James Trust N.A. acquired a new position in Altair Engineering during the 4th quarter worth $253,000. Hedge funds and other institutional investors own 63.38% of the company’s stock.

Insider Transactions at Altair Engineering

In related news, CEO James Ralph Scapa sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $80.74, for a total value of $807,400.00. Following the sale, the chief executive officer now owns 139,605 shares in the company, valued at approximately $11,271,707.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Altair Engineering news, Director Teresa A. Harris sold 620 shares of the stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $84.00, for a total transaction of $52,080.00. Following the sale, the director now owns 18,895 shares in the company, valued at approximately $1,587,180. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO James Ralph Scapa sold 10,000 shares of the stock in a transaction on Monday, March 18th. The shares were sold at an average price of $80.74, for a total value of $807,400.00. Following the sale, the chief executive officer now owns 139,605 shares in the company, valued at approximately $11,271,707.70. The disclosure for this sale can be found here. In the last three months, insiders sold 161,830 shares of company stock valued at $13,876,320. Corporate insiders own 21.75% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Rosenblatt Securities reaffirmed a “neutral” rating and set a $88.00 price objective (up from $74.00) on shares of Altair Engineering in a research report on Friday, February 23rd. Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 price objective on shares of Altair Engineering in a research report on Monday, March 25th. Royal Bank of Canada reissued a “sector perform” rating and issued a $90.00 target price on shares of Altair Engineering in a report on Thursday, March 21st. JPMorgan Chase & Co. boosted their target price on Altair Engineering from $86.00 to $95.00 and gave the company an “overweight” rating in a report on Tuesday, March 26th. Finally, Oppenheimer boosted their target price on Altair Engineering from $95.00 to $100.00 and gave the company an “outperform” rating in a report on Friday, February 23rd. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $90.00.

Altair Engineering Stock Down 0.3 %

ALTR opened at $83.18 on Friday. The business has a 50 day moving average price of $84.01 and a two-hundred day moving average price of $78.63. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.32. Altair Engineering Inc. has a 52 week low of $57.59 and a 52 week high of $92.92.

Altair Engineering (NASDAQ:ALTR) last posted its quarterly earnings data on Thursday, February 22nd. The software reported $0.29 EPS for the quarter, beating the consensus estimate of $0.22 by $0.07. The firm had revenue of $171.50 million during the quarter, compared to the consensus estimate of $172.48 million. Altair Engineering had a positive return on equity of 3.77% and a negative net margin of 1.46%. On average, equities research analysts predict that Altair Engineering Inc. will post 0.63 EPS 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.