Cwm LLC Increases Stake in Altair Engineering Inc. (NASDAQ:ALTR)

Cwm LLC increased its holdings in Altair Engineering Inc. (NASDAQ:ALTR) by 14.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,207 shares of the software’s stock after purchasing an additional 1,671 shares during the quarter. Cwm LLC’s holdings in Altair Engineering were worth $1,261,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. GAMMA Investing LLC grew its stake in shares of Altair Engineering by 81.7% during the second quarter. GAMMA Investing LLC now owns 418 shares of the software’s stock valued at $41,000 after buying an additional 188 shares during the last quarter. FSC Wealth Advisors LLC boosted its holdings in Altair Engineering by 41.3% during the 2nd quarter. FSC Wealth Advisors LLC now owns 832 shares of the software’s stock valued at $82,000 after acquiring an additional 243 shares during the period. Van ECK Associates Corp grew its position in Altair Engineering by 41.7% during the 2nd quarter. Van ECK Associates Corp now owns 1,057 shares of the software’s stock worth $104,000 after acquiring an additional 311 shares during the last quarter. SG Americas Securities LLC purchased a new position in Altair Engineering in the 1st quarter worth approximately $177,000. Finally, Ballentine Partners LLC bought a new stake in Altair Engineering in the second quarter valued at approximately $202,000. Hedge funds and other institutional investors own 63.38% of the company’s stock.

Insider Buying and Selling

In other Altair Engineering news, major shareholder George J. Christ sold 2,176 shares of Altair Engineering stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $95.31, for a total transaction of $207,394.56. Following the sale, the insider now directly owns 300,000 shares of the company’s stock, valued at approximately $28,593,000. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Altair Engineering news, major shareholder George J. Christ sold 97,824 shares of the firm’s stock in a transaction on Friday, October 11th. The stock was sold at an average price of $95.23, for a total transaction of $9,315,779.52. Following the completion of the transaction, the insider now owns 302,176 shares of the company’s stock, valued at approximately $28,776,220.48. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder George J. Christ sold 2,176 shares of the company’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $95.31, for a total transaction of $207,394.56. Following the completion of the sale, the insider now directly owns 300,000 shares in the company, valued at $28,593,000. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 260,360 shares of company stock valued at $24,537,300 over the last three months. Corporate insiders own 21.75% of the company’s stock.

Altair Engineering Price Performance

Shares of Altair Engineering stock opened at $94.88 on Thursday. The business has a 50 day moving average of $91.12 and a 200 day moving average of $89.99. Altair Engineering Inc. has a 52 week low of $57.59 and a 52 week high of $101.39. The company has a market cap of $7.88 billion, a PE ratio of 1,054.22, a P/E/G ratio of 12.15 and a beta of 1.45. The company has a quick ratio of 3.14, a current ratio of 3.14 and a debt-to-equity ratio of 0.29.

Altair Engineering (NASDAQ:ALTR) last issued its quarterly earnings data on Thursday, August 1st. The software reported $0.16 EPS for the quarter, topping the consensus estimate of $0.15 by $0.01. Altair Engineering had a net margin of 4.26% and a return on equity of 6.89%. The business had revenue of $148.80 million during the quarter, compared to analyst estimates of $146.88 million. During the same period in the prior year, the business earned ($0.15) EPS. The company’s revenue for the quarter was up 5.4% on a year-over-year basis. As a group, equities research analysts forecast that Altair Engineering Inc. will post 0.65 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on ALTR shares. The Goldman Sachs Group cut shares of Altair Engineering from a “neutral” rating to a “sell” rating and cut their target price for the stock from $85.00 to $71.00 in a report on Friday, August 2nd. Needham & Company LLC reissued a “buy” rating and issued a $100.00 price target on shares of Altair Engineering in a report on Friday, August 2nd. Finally, JPMorgan Chase & Co. downgraded shares of Altair Engineering from an “overweight” rating to a “neutral” rating and set a $95.00 price objective for the company. in a research note on Monday, July 15th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $90.67.

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.