Olympiad Research LP Makes New $2.04 Million Investment in Altair Engineering Inc. (NASDAQ:ALTR)

Olympiad Research LP acquired a new position in Altair Engineering Inc. (NASDAQ:ALTR) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 18,713 shares of the software’s stock, valued at approximately $2,042,000. Altair Engineering accounts for about 2.1% of Olympiad Research LP’s portfolio, making the stock its 5th largest position.

Other hedge funds have also added to or reduced their stakes in the company. Fisher Asset Management LLC raised its position in Altair Engineering by 27.0% in the third quarter. Fisher Asset Management LLC now owns 401,612 shares of the software’s stock worth $38,358,000 after acquiring an additional 85,303 shares during the period. Citigroup Inc. raised its position in shares of Altair Engineering by 141.0% in the third quarter. Citigroup Inc. now owns 50,518 shares of the software’s stock valued at $4,825,000 after purchasing an additional 29,556 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Altair Engineering in the 3rd quarter worth approximately $1,356,000. Versor Investments LP bought a new position in Altair Engineering in the 3rd quarter worth approximately $487,000. Finally, UMB Bank n.a. boosted its holdings in Altair Engineering by 77.0% in the 4th quarter. UMB Bank n.a. now owns 285 shares of the software’s stock worth $31,000 after buying an additional 124 shares during the period. Institutional investors own 63.38% of the company’s stock.

Altair Engineering Price Performance

NASDAQ:ALTR opened at $111.78 on Friday. The firm has a market capitalization of $9.51 billion, a price-to-earnings ratio of 657.53, a P/E/G ratio of 10.75 and a beta of 1.42. Altair Engineering Inc. has a 52-week low of $75.71 and a 52-week high of $113.12. The stock has a fifty day moving average of $109.90 and a 200 day moving average of $101.53. The company has a debt-to-equity ratio of 0.27, a quick ratio of 3.27 and a current ratio of 3.27.

Altair Engineering (NASDAQ:ALTR) last posted its quarterly earnings data on Thursday, February 20th. The software reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.15). The business 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 8.23%. On average, research analysts expect that Altair Engineering Inc. will post 0.87 EPS for the current fiscal year.

Insider Activity at Altair Engineering

In other Altair Engineering news, major shareholder Jrs Investments Llc sold 6,500 shares of Altair Engineering stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $105.69, for a total transaction of $686,985.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CRO Nelson Dias sold 22,500 shares of Altair Engineering stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $106.23, for a total value of $2,390,175.00. Following the sale, the executive now directly owns 48,437 shares of the company’s stock, valued at approximately $5,145,462.51. This trade represents a 31.72 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 59,143 shares of company stock valued at $6,265,694. Company insiders own 21.75% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Altair Engineering in a report on Friday. Rosenblatt Securities lifted their price target on Altair Engineering from $88.00 to $113.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Loop Capital reiterated a “hold” rating and issued a $113.00 price target on shares of Altair Engineering in a research report on Thursday, October 31st. William Blair reiterated a “market perform” rating on shares of Altair Engineering in a research report on Thursday, October 31st. Finally, Wolfe Research cut Altair Engineering from a “strong-buy” rating to a “hold” rating in a research report on Sunday, November 3rd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $100.71.

Altair Engineering Company 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.