Altair Engineering Inc. (NASDAQ:ALTR – Get Free Report) major shareholder George J. Christ sold 100,000 shares of the business’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $97.23, for a total transaction of $9,723,000.00. Following the completion of the transaction, the insider now directly owns 100,000 shares in the company, valued at $9,723,000. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.
Altair Engineering Price Performance
ALTR stock opened at $96.61 on Friday. The firm has a 50 day moving average of $86.50 and a 200-day moving average of $83.85. The company has a market cap of $8.02 billion, a price-to-earnings ratio of 1,073.89, a PEG ratio of 12.22 and a beta of 1.45. The company has a current ratio of 2.46, a quick ratio of 2.46 and a debt-to-equity ratio of 0.30. Altair Engineering Inc. has a 12-month low of $57.59 and a 12-month high of $98.41.
Altair Engineering (NASDAQ:ALTR – Get Free Report) last issued its quarterly earnings data on Thursday, May 2nd. The software reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate 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%. Altair Engineering’s revenue was up 4.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.13 earnings per share. As a group, equities analysts expect that Altair Engineering Inc. will post 0.66 EPS for the current fiscal year.
Analyst Ratings Changes
View Our Latest Research Report on ALTR
Institutional Investors Weigh In On Altair Engineering
Institutional investors and hedge funds have recently made changes to their positions in the business. Matrix Capital Management Company LP raised its position in Altair Engineering by 1.6% during the first quarter. Matrix Capital Management Company LP now owns 12,430,000 shares of the software’s stock worth $1,070,844,000 after acquiring an additional 196,826 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Altair Engineering by 3.2% during the 1st quarter. Vanguard Group Inc. now owns 5,944,285 shares of the software’s stock worth $512,100,000 after purchasing an additional 182,840 shares in the last quarter. Conestoga Capital Advisors LLC raised its position in shares of Altair Engineering by 0.6% during the 1st quarter. Conestoga Capital Advisors LLC now owns 2,440,081 shares of the software’s stock worth $210,213,000 after purchasing an additional 15,370 shares during the last quarter. Wellington Management Group LLP lifted its stake in Altair Engineering by 97.3% in the 4th quarter. Wellington Management Group LLP now owns 1,182,339 shares of the software’s stock valued at $99,494,000 after buying an additional 583,127 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its stake in Altair Engineering by 22.8% in the 3rd quarter. Ameriprise Financial Inc. now owns 951,698 shares of the software’s stock valued at $59,538,000 after buying an additional 176,780 shares in the last quarter. 63.38% of the stock is currently owned by hedge funds and other 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.
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