Candriam S.C.A. Has $67.03 Million Stake in Altair Engineering Inc. (NASDAQ:ALTR)

Candriam S.C.A. lowered its stake in Altair Engineering Inc. (NASDAQ:ALTR) by 12.3% in the fourth quarter, Holdings Channel reports. The fund owned 614,335 shares of the software’s stock after selling 86,363 shares during the quarter. Candriam S.C.A.’s holdings in Altair Engineering were worth $67,030,000 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. Private Advisor Group LLC bought a new position in Altair Engineering during the 3rd quarter worth approximately $208,000. State of Alaska Department of Revenue raised its stake in shares of Altair Engineering by 11.5% during the 3rd 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 period. New York State Teachers Retirement System raised its stake in 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 valued at $812,000 after acquiring an additional 100 shares during the period. US Bancorp DE grew its holdings in 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 buying an additional 1,078 shares in the last quarter. Finally, Harbor Capital Advisors Inc. grew its holdings in shares of Altair Engineering by 2.9% during the third quarter. Harbor Capital Advisors Inc. now owns 10,017 shares of the software’s stock worth $957,000 after purchasing an additional 279 shares in the last quarter. Institutional investors own 63.38% of the company’s stock.

Altair Engineering Stock Down 0.0 %

Shares of Altair Engineering stock opened at $111.32 on Thursday. The stock’s fifty day moving average is $110.49 and its two-hundred day moving average is $102.79. The company has a market capitalization of $9.55 billion, a PE ratio of 654.82, a price-to-earnings-growth ratio of 10.75 and a beta of 1.45. Altair Engineering Inc. has a 52 week low of $75.71 and a 52 week high of $113.12.

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

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Rosenblatt Securities reiterated a “neutral” rating and issued a $113.00 price objective on shares of Altair Engineering in a research report 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 analyst has rated the stock with a sell rating and seven have given a hold rating to the company’s stock. According to data from MarketBeat, Altair Engineering presently has an average rating of “Hold” and an average price target of $100.83.

Insider Activity at Altair Engineering

In related news, Director Teresa A. Harris sold 2,700 shares of the firm’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $111.61, for a total value 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. This trade represents a 12.71 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CMO Amy Messano sold 235 shares of the stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $111.53, for a total transaction of $26,209.55. Following the completion of the sale, the chief marketing officer now owns 23,651 shares of the company’s stock, valued at approximately $2,637,796.03. The trade was a 0.98 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 32,855 shares of company stock valued at $3,542,373 in the last ninety days. Company insiders own 21.75% of the company’s stock.

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.