Impax Asset Management Group plc Decreases Stock Holdings in Altair Engineering Inc. (NASDAQ:ALTR)

Impax Asset Management Group plc lessened its stake in Altair Engineering Inc. (NASDAQ:ALTR) by 12.1% during the 4th quarter, Holdings Channel.com reports. The firm owned 1,196,098 shares of the software’s stock after selling 164,123 shares during the quarter. Impax Asset Management Group plc’s holdings in Altair Engineering were worth $129,534,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Blue Trust Inc. boosted its holdings in shares of Altair Engineering by 572.1% in the 3rd quarter. Blue Trust Inc. now owns 289 shares of the software’s stock valued at $28,000 after buying an additional 246 shares in the last quarter. UMB Bank n.a. lifted its position in Altair Engineering by 77.0% during the fourth quarter. UMB Bank n.a. now owns 285 shares of the software’s stock valued at $31,000 after acquiring an additional 124 shares during the last quarter. GAMMA Investing LLC boosted its stake in 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 acquiring an additional 93 shares in the last quarter. Van ECK Associates Corp grew its holdings in Altair Engineering by 28.5% in the third quarter. Van ECK Associates Corp now owns 1,358 shares of the software’s stock worth $130,000 after purchasing an additional 301 shares during the last quarter. Finally, KBC Group NV grew its holdings in Altair Engineering by 17.9% in the third quarter. KBC Group NV now owns 1,640 shares of the software’s stock worth $157,000 after purchasing an additional 249 shares during the last quarter. 63.38% of the stock is currently owned by institutional investors.

Altair Engineering Price Performance

Shares of NASDAQ:ALTR opened at $111.78 on Monday. Altair Engineering Inc. has a twelve month low of $75.71 and a twelve month high of $113.12. The company has a current ratio of 3.27, a quick ratio of 3.27 and a debt-to-equity ratio of 0.27. The company has a market cap of $9.51 billion, a PE ratio of 657.53, a price-to-earnings-growth ratio of 10.75 and a beta of 1.42. The company’s 50 day moving average is $109.90 and its 200 day moving average is $101.65.

Altair Engineering (NASDAQ:ALTR) last released its quarterly earnings data on Thursday, February 20th. The software reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.15). The business had revenue of $192.63 million during the quarter, compared to analyst estimates of $182.98 million. Altair Engineering had a return on equity of 8.23% and a net margin of 2.13%. On average, sell-side analysts forecast that Altair Engineering Inc. will post 0.87 EPS for the current year.

Insider Buying and Selling at Altair Engineering

In other news, major shareholder Jrs Investments Llc sold 6,500 shares of Altair Engineering stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $105.69, for a total transaction of $686,985.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CRO Nelson Dias sold 22,500 shares of the business’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $106.23, for a total transaction of $2,390,175.00. Following the completion of the transaction, the executive now owns 48,437 shares of the company’s stock, valued at approximately $5,145,462.51. This represents a 31.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 59,143 shares of company stock worth $6,265,694. Insiders own 21.75% of the company’s stock.

Analyst Ratings Changes

ALTR has been the subject of a number of research analyst reports. Wolfe Research cut Altair Engineering from a “strong-buy” rating to a “hold” rating in a research note on Sunday, November 3rd. Loop Capital restated a “hold” rating and set a $113.00 price objective on shares of Altair Engineering in a report on Thursday, October 31st. Rosenblatt Securities lifted their target price on shares of Altair Engineering from $88.00 to $113.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Royal Bank of Canada boosted their target price on shares of Altair Engineering from $90.00 to $113.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 31st. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Altair Engineering in a report on Friday. One analyst has rated the stock with a sell rating and seven have given a hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $100.83.

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.