Creative Planning Grows Holdings in Altair Engineering Inc. (NASDAQ:ALTR)

Creative Planning grew its stake in shares of Altair Engineering Inc. (NASDAQ:ALTR) by 5.9% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 11,279 shares of the software’s stock after buying an additional 631 shares during the period. Creative Planning’s holdings in Altair Engineering were worth $1,077,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. GAMMA Investing LLC raised its position in 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 purchasing an additional 188 shares in the last quarter. FSC Wealth Advisors LLC increased its position in shares of 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 purchasing an additional 243 shares during the last quarter. Van ECK Associates Corp raised its holdings in shares of Altair Engineering by 41.7% during the 2nd quarter. Van ECK Associates Corp now owns 1,057 shares of the software’s stock valued at $104,000 after buying an additional 311 shares in the last quarter. SG Americas Securities LLC bought a new stake in Altair Engineering in the 1st quarter worth approximately $177,000. Finally, Ballentine Partners LLC purchased a new stake in Altair Engineering in the second quarter worth approximately $202,000. Hedge funds and other institutional investors own 63.38% of the company’s stock.

Altair Engineering Trading Down 4.3 %

Shares of ALTR opened at $103.99 on Friday. The firm has a fifty day simple moving average of $94.03 and a two-hundred day simple moving average of $91.38. Altair Engineering Inc. has a twelve month low of $57.59 and a twelve month high of $113.12. The stock has a market capitalization of $8.63 billion, a P/E ratio of 1,155.44, a PEG 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 posted its earnings results on Wednesday, October 30th. The software reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.07. Altair Engineering had a net margin of 4.26% and a return on equity of 6.89%. The company had revenue of $151.45 million during the quarter, compared to analyst estimates of $146.55 million. On average, research analysts anticipate that Altair Engineering Inc. will post 0.65 EPS for the current year.

Insiders Place Their Bets

In other news, major shareholder Christ Revocable Trust sold 100,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $106.57, for a total transaction of $10,657,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, major shareholder Christ Revocable Trust sold 100,000 shares of Altair Engineering stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $106.57, for a total transaction of $10,657,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO James Ralph Scapa sold 13,000 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $89.04, for a total transaction of $1,157,520.00. Following the completion of the sale, the chief executive officer now owns 134,045 shares of the company’s stock, valued at $11,935,366.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 360,360 shares of company stock worth $35,476,660. 21.75% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have commented on ALTR. Needham & Company LLC reissued a “hold” rating and set a $100.00 price target on shares of Altair Engineering in a research note on Thursday. The Goldman Sachs Group cut shares of Altair Engineering from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $85.00 to $71.00 in a research report on Friday, August 2nd. Rosenblatt Securities upped their price target on shares of Altair Engineering from $88.00 to $113.00 and gave the company a “neutral” rating in a research report on Thursday. William Blair reaffirmed a “market perform” rating on shares of Altair Engineering in a research note on Thursday. Finally, Royal Bank of Canada boosted their target price on Altair Engineering from $90.00 to $113.00 and gave the company a “sector perform” rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Altair Engineering currently has an average rating of “Hold” and a consensus target price of $100.71.

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.