Ballentine Partners LLC Invests $202,000 in Altair Engineering Inc. (NASDAQ:ALTR)

Ballentine Partners LLC purchased a new stake in Altair Engineering Inc. (NASDAQ:ALTR) during the second quarter, according to its most recent filing with the SEC. The firm purchased 2,061 shares of the software’s stock, valued at approximately $202,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. New Mexico Educational Retirement Board bought a new position in shares of Altair Engineering during the second quarter worth $1,128,000. Great Lakes Advisors LLC acquired a new position in Altair Engineering in the second quarter valued at about $13,343,000. Cullen Frost Bankers Inc. raised its position in shares of Altair Engineering by 6.8% during the second quarter. Cullen Frost Bankers Inc. now owns 4,356 shares of the software’s stock worth $427,000 after purchasing an additional 276 shares during the period. Candriam S.C.A. lifted its holdings in shares of Altair Engineering by 28.9% during the 2nd quarter. Candriam S.C.A. now owns 560,565 shares of the software’s stock valued at $54,978,000 after purchasing an additional 125,816 shares in the last quarter. Finally, Arizona State Retirement System grew its position in shares of Altair Engineering by 6.2% in the 2nd quarter. Arizona State Retirement System now owns 15,941 shares of the software’s stock valued at $1,563,000 after purchasing an additional 928 shares during the period. Institutional investors own 63.38% of the company’s stock.

Altair Engineering Stock Up 0.3 %

Shares of ALTR stock opened at $85.90 on Friday. The firm’s fifty day moving average price is $89.79 and its two-hundred day moving average price is $88.24. Altair Engineering Inc. has a 1 year low of $57.59 and a 1 year high of $101.39. The company has a current ratio of 3.14, a quick ratio of 3.14 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $7.13 billion, a P/E ratio of 954.44, a PEG ratio of 10.84 and a beta of 1.45.

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

Insider Transactions at Altair Engineering

In other Altair Engineering news, Director Teresa A. Harris sold 620 shares of the firm’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $82.57, for a total transaction of $51,193.40. Following the completion of the sale, the director now owns 21,242 shares of the company’s stock, valued at approximately $1,753,951.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Altair Engineering news, Director Teresa A. Harris sold 620 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $82.57, for a total transaction of $51,193.40. Following the completion of the sale, the director now directly owns 21,242 shares in the company, valued at $1,753,951.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder George J. Christ sold 100,000 shares of the business’s stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $98.40, for a total value of $9,840,000.00. Following the sale, the insider now owns 200,000 shares of the company’s stock, valued at approximately $19,680,000. The disclosure for this sale can be found here. In the last three months, insiders sold 153,860 shares of company stock worth $14,739,205. 21.75% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

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

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.