Altair Engineering Inc. (NASDAQ:ALTR) Shares Acquired by State of Michigan Retirement System

State of Michigan Retirement System boosted its holdings in Altair Engineering Inc. (NASDAQ:ALTR) by 0.7% during the fourth quarter, Holdings Channel.com reports. The fund owned 14,200 shares of the software’s stock after acquiring an additional 100 shares during the period. State of Michigan Retirement System’s holdings in Altair Engineering were worth $1,549,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in ALTR. GAMMA Investing LLC lifted its holdings in shares of Altair Engineering by 14.6% in the fourth quarter. GAMMA Investing LLC now owns 729 shares of the software’s stock valued at $80,000 after purchasing an additional 93 shares in the last quarter. New York State Teachers Retirement System raised its position in shares of Altair Engineering by 1.2% during 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 during the last quarter. Louisiana State Employees Retirement System lifted its stake in Altair Engineering by 0.6% in the 4th quarter. Louisiana State Employees Retirement System now owns 16,600 shares of the software’s stock valued at $1,811,000 after buying an additional 100 shares in the last quarter. UMB Bank n.a. grew its holdings in Altair Engineering by 77.0% during the 4th quarter. UMB Bank n.a. now owns 285 shares of the software’s stock valued at $31,000 after buying an additional 124 shares during the last quarter. Finally, Thrivent Financial for Lutherans increased its position in Altair Engineering by 1.5% during the third quarter. Thrivent Financial for Lutherans now owns 13,961 shares of the software’s stock worth $1,333,000 after buying an additional 201 shares in the last quarter. 63.38% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on ALTR. Rosenblatt Securities reaffirmed a “neutral” rating and set a $113.00 price objective on shares of Altair Engineering in a research note on Monday, February 24th. Needham & Company LLC reaffirmed a “hold” rating on shares of Altair Engineering in a research note on Friday, February 21st. One investment analyst has rated the stock with a sell rating and seven have given a hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $100.83.

Insiders Place Their Bets

In other Altair Engineering news, CRO Nelson Dias sold 22,500 shares of the company’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $106.23, for a total transaction of $2,390,175.00. Following the completion of the sale, the executive now directly owns 48,437 shares in the company, valued at $5,145,462.51. This represents a 31.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Teresa A. Harris sold 450 shares of the firm’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $111.08, for a total value of $49,986.00. Following the completion of the transaction, the director now owns 18,092 shares in the company, valued at approximately $2,009,659.36. This trade represents a 2.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 33,305 shares of company stock valued at $3,592,359 over the last quarter. Company insiders own 21.75% of the company’s stock.

Altair Engineering Trading Up 0.1 %

Altair Engineering stock opened at $111.24 on Friday. The stock has a fifty day moving average price of $110.57 and a 200 day moving average price of $103.10. Altair Engineering Inc. has a 52 week low of $75.71 and a 52 week high of $113.12. The firm has a market capitalization of $9.54 billion, a P/E ratio of 654.35, a PEG ratio of 10.75 and a beta of 1.45.

Altair Engineering (NASDAQ:ALTR) last announced its quarterly earnings data on Thursday, February 20th. The software reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.15). Altair Engineering had a return on equity of 8.08% and a net margin of 2.13%. The company had revenue of $192.63 million for the quarter, compared to analysts’ expectations of $182.98 million. As a group, equities analysts predict that Altair Engineering Inc. will post 0.87 EPS for the current year.

Altair Engineering 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.