Altair Engineering (NASDAQ:ALTR) Receives “Hold” Rating from Loop Capital

Loop Capital reissued their hold rating on shares of Altair Engineering (NASDAQ:ALTR) in a research note published on Thursday, Benzinga reports. The brokerage currently has a $113.00 target price on the software’s stock.

A number of other research analysts also recently commented on the company. Needham & Company LLC restated a “buy” rating and set a $100.00 price objective on shares of Altair Engineering in a research note on Friday, August 2nd. William Blair reaffirmed a “market perform” rating on shares of Altair Engineering in a research note on Thursday. Royal Bank of Canada reissued a “sector perform” rating and set a $90.00 price objective on shares of Altair Engineering in a report on Wednesday, October 23rd. JPMorgan Chase & Co. downgraded Altair Engineering from an “overweight” rating to a “neutral” rating and set a $95.00 price target on the stock. in a research report on Monday, July 15th. Finally, The Goldman Sachs Group lowered Altair Engineering from a “neutral” rating to a “sell” rating and reduced their price objective for the stock from $85.00 to $71.00 in a research note on Friday, August 2nd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat, Altair Engineering has a consensus rating of “Hold” and a consensus target price of $100.71.

Altair Engineering Stock Up 0.1 %

NASDAQ:ALTR traded up $0.14 during mid-day trading on Thursday, hitting $104.13. The stock had a trading volume of 316,376 shares, compared to its average volume of 508,298. The company has a current ratio of 3.14, a quick ratio of 3.14 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $8.84 billion, a PE ratio of 273.67, a PEG ratio of 13.87 and a beta of 1.45. The stock has a 50-day simple moving average of $94.03 and a two-hundred day simple moving average of $91.38. Altair Engineering has a twelve month low of $57.59 and a twelve month high of $113.12.

Altair Engineering (NASDAQ:ALTR) last released its quarterly earnings results on Wednesday, October 30th. The software reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.07. The business had revenue of $151.45 million during the quarter, compared to the consensus estimate of $146.55 million. Altair Engineering had a return on equity of 7.70% and a net margin of 5.10%. On average, equities research analysts anticipate that Altair Engineering will post 0.65 EPS for the current year.

Insider Activity

In other news, major shareholder Christ Revocable Trust sold 100,000 shares of the stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $106.57, for a total transaction of $10,657,000.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Teresa A. Harris sold 620 shares of Altair Engineering stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $82.57, for a total value of $51,193.40. Following the completion of the transaction, the director now directly owns 21,242 shares of the company’s stock, valued at approximately $1,753,951.94. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Christ Revocable Trust sold 100,000 shares of Altair Engineering stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $106.57, for a total value of $10,657,000.00. The disclosure for this sale can be found here. Insiders sold a total of 360,360 shares of company stock valued at $35,476,660 over the last three months. Insiders own 21.75% of the company’s stock.

Institutional Trading of Altair Engineering

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. QRG Capital Management Inc. boosted its stake in shares of Altair Engineering by 9.2% in the 3rd quarter. QRG Capital Management Inc. now owns 25,874 shares of the software’s stock worth $2,471,000 after buying an additional 2,190 shares during the last quarter. Van ECK Associates Corp boosted its stake in shares of Altair Engineering by 28.5% in the 3rd quarter. Van ECK Associates Corp now owns 1,358 shares of the software’s stock worth $130,000 after buying an additional 301 shares during the last quarter. Harbor Capital Advisors Inc. boosted its stake in shares of Altair Engineering by 2.9% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 10,017 shares of the software’s stock worth $957,000 after buying an additional 279 shares during the last quarter. Conestoga Capital Advisors LLC boosted its stake in shares of Altair Engineering by 1.4% in the 3rd quarter. Conestoga Capital Advisors LLC now owns 2,522,551 shares of the software’s stock worth $240,929,000 after buying an additional 33,985 shares during the last quarter. Finally, US Bancorp DE boosted its stake in shares of Altair Engineering by 19.6% in the 3rd quarter. US Bancorp DE now owns 6,572 shares of the software’s stock worth $628,000 after buying an additional 1,078 shares during the last quarter. 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.