Altair Engineering Inc. (NASDAQ:ALTR) Shares Purchased by Hillsdale Investment Management Inc.

Hillsdale Investment Management Inc. increased its stake in shares of Altair Engineering Inc. (NASDAQ:ALTR) by 8.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 41,920 shares of the software’s stock after purchasing an additional 3,300 shares during the quarter. Hillsdale Investment Management Inc.’s holdings in Altair Engineering were worth $3,611,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. McGlone Suttner Wealth Management Inc. acquired a new stake in shares of Altair Engineering during the fourth quarter worth $31,000. EdgeRock Capital LLC acquired a new stake in shares of Altair Engineering during the fourth quarter worth $33,000. Harvest Fund Management Co. Ltd lifted its holdings in shares of Altair Engineering by 1,157.7% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 981 shares of the software’s stock worth $83,000 after purchasing an additional 903 shares during the period. Natixis Investment Managers International lifted its holdings in shares of Altair Engineering by 68.7% during the fourth quarter. Natixis Investment Managers International now owns 1,940 shares of the software’s stock worth $163,000 after purchasing an additional 790 shares during the period. Finally, SG Americas Securities LLC acquired a new stake in shares of Altair Engineering during the first quarter worth $177,000. 63.38% of the stock is owned by institutional investors and hedge funds.

Altair Engineering Price Performance

Altair Engineering stock traded up $1.89 during midday trading on Monday, reaching $91.62. 610,808 shares of the company were exchanged, compared to its average volume of 499,048. The company has a market capitalization of $7.61 billion, a price-to-earnings ratio of 1,018.00, a P/E/G ratio of 11.29 and a beta of 1.48. The firm’s 50-day simple moving average is $93.95 and its 200-day simple moving average is $87.95. Altair Engineering Inc. has a 1 year low of $57.59 and a 1 year high of $101.39. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.46 and a current ratio of 2.46.

Altair Engineering (NASDAQ:ALTR) last posted its quarterly earnings data on Thursday, May 2nd. The software reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.06. The firm had revenue of $172.91 million during the quarter, compared to analysts’ expectations of $169.29 million. Altair Engineering had a return on equity of 5.60% and a net margin of 1.55%. The firm’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.13 EPS. On average, analysts anticipate that Altair Engineering Inc. will post 0.66 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on ALTR shares. JPMorgan Chase & Co. downgraded Altair Engineering from an “overweight” rating to a “neutral” rating and set a $95.00 target price for the company. in a report on Monday, July 15th. Rosenblatt Securities reissued a “neutral” rating and issued a $88.00 target price on shares of Altair Engineering in a report on Monday, April 29th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $100.00 target price on shares of Altair Engineering in a report on Friday, May 3rd. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $94.60.

Insider Buying and Selling

In related news, major shareholder George J. Christ sold 100,000 shares of Altair Engineering stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $97.23, for a total transaction of $9,723,000.00. Following the completion of the sale, the insider now owns 100,000 shares in the company, valued at approximately $9,723,000. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Altair Engineering news, CEO James Ralph Scapa sold 13,000 shares of Altair Engineering stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $98.26, for a total value of $1,277,380.00. Following the completion of the sale, the chief executive officer now owns 134,045 shares in the company, valued at approximately $13,171,261.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder George J. Christ sold 100,000 shares of Altair Engineering stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $97.23, for a total value of $9,723,000.00. Following the completion of the sale, the insider now owns 100,000 shares of the company’s stock, valued at approximately $9,723,000. The disclosure for this sale can be found here. In the last quarter, insiders sold 467,254 shares of company stock worth $43,396,100. 21.75% of the stock is owned by corporate insiders.

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.