QRG Capital Management Inc. Raises Stock Holdings in Altair Engineering Inc. (NASDAQ:ALTR)

QRG Capital Management Inc. boosted its stake in Altair Engineering Inc. (NASDAQ:ALTR) by 4.5% during the fourth quarter, HoldingsChannel reports. The firm owned 27,036 shares of the software’s stock after buying an additional 1,162 shares during the period. QRG Capital Management Inc.’s holdings in Altair Engineering were worth $2,950,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Blue Trust Inc. lifted its holdings in shares of Altair Engineering by 572.1% during the 3rd quarter. Blue Trust Inc. now owns 289 shares of the software’s stock worth $28,000 after acquiring an additional 246 shares during the last quarter. Private Advisor Group LLC purchased a new stake in Altair Engineering during the third quarter valued at about $208,000. State of Alaska Department of Revenue lifted its stake in Altair Engineering by 11.5% during the third quarter. State of Alaska Department of Revenue now owns 6,900 shares of the software’s stock worth $659,000 after purchasing an additional 710 shares during the last quarter. New York State Teachers Retirement System boosted its holdings in shares of Altair Engineering by 1.2% in the 3rd quarter. New York State Teachers Retirement System now owns 8,500 shares of the software’s stock worth $812,000 after purchasing an additional 100 shares in the last quarter. Finally, US Bancorp DE increased its position in shares of Altair Engineering by 19.6% during the 3rd quarter. US Bancorp DE now owns 6,572 shares of the software’s stock valued at $628,000 after purchasing an additional 1,078 shares during the last quarter. Hedge funds and other institutional investors own 63.38% of the company’s stock.

Insider Buying and Selling at Altair Engineering

In other Altair Engineering news, Director Teresa A. Harris sold 2,700 shares of the business’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $111.61, for a total transaction of $301,347.00. Following the transaction, the director now directly owns 18,542 shares of the company’s stock, valued at approximately $2,069,472.62. The trade was a 12.71 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CRO Nelson Dias sold 373 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $111.53, for a total transaction of $41,600.69. Following the completion of the sale, the executive now directly owns 57,573 shares of the company’s stock, valued at approximately $6,421,116.69. This represents a 0.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 47,019 shares of company stock valued at $5,027,600 in the last 90 days. Insiders own 21.75% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Altair Engineering in a research note on Friday, February 21st. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $113.00 price objective on shares of Altair Engineering in a research note on Monday, February 24th. Finally, Wolfe Research cut shares of Altair Engineering from a “strong-buy” rating to a “hold” rating in a research report on Sunday, November 3rd. One equities research analyst has rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, Altair Engineering has an average rating of “Hold” and an average price target of $100.83.

Altair Engineering Stock Up 0.1 %

Shares of NASDAQ ALTR opened at $111.60 on Friday. The company has a market cap of $9.50 billion, a price-to-earnings ratio of 656.47, a PEG ratio of 10.75 and a beta of 1.42. The firm’s fifty day moving average is $110.34 and its 200 day moving average is $102.36. Altair Engineering Inc. has a 52 week low of $75.71 and a 52 week high of $113.12.

Altair Engineering (NASDAQ:ALTR) last issued its quarterly earnings data on Thursday, February 20th. The software reported $0.36 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.15). The firm 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 8.08%. Equities research analysts anticipate that Altair Engineering Inc. will post 0.87 earnings per share for the current year.

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.