Altair Engineering Inc. (NASDAQ:ALTR) Shares Sold by Marco Investment Management LLC

Marco Investment Management LLC decreased its holdings in shares of Altair Engineering Inc. (NASDAQ:ALTR) by 17.6% during the 4th quarter, HoldingsChannel.com reports. The firm owned 2,485 shares of the software’s stock after selling 530 shares during the period. Marco Investment Management LLC’s holdings in Altair Engineering were worth $271,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Arizona State Retirement System increased its position in Altair Engineering by 5.2% during the 4th quarter. Arizona State Retirement System now owns 17,250 shares of the software’s stock worth $1,882,000 after purchasing an additional 851 shares during the period. State of Michigan Retirement System boosted its stake in shares of Altair Engineering by 0.7% during the 4th quarter. State of Michigan Retirement System now owns 14,200 shares of the software’s stock worth $1,549,000 after acquiring an additional 100 shares in the last quarter. QRG Capital Management Inc. boosted its stake in shares of Altair Engineering by 4.5% during the 4th quarter. QRG Capital Management Inc. now owns 27,036 shares of the software’s stock worth $2,950,000 after acquiring an additional 1,162 shares in the last quarter. Versor Investments LP boosted its stake in shares of Altair Engineering by 1,069.9% during the 4th quarter. Versor Investments LP now owns 59,655 shares of the software’s stock worth $6,509,000 after acquiring an additional 54,556 shares in the last quarter. Finally, New York Life Investment Management LLC boosted its stake in shares of Altair Engineering by 1,103.3% during the 4th quarter. New York Life Investment Management LLC now owns 76,363 shares of the software’s stock worth $8,332,000 after acquiring an additional 70,017 shares in the last quarter. Institutional investors and hedge funds own 63.38% of the company’s stock.

Altair Engineering Stock Performance

ALTR stock opened at $111.24 on Friday. Altair Engineering Inc. has a 1 year low of $75.71 and a 1 year high of $113.12. The stock’s 50 day moving average price is $110.53 and its 200 day moving average price is $102.84. The firm has a market cap 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 posted its earnings results on Thursday, February 20th. The software reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.15). Altair Engineering had a net margin of 2.13% and a return on equity of 8.08%. The company had revenue of $192.63 million during the quarter, compared to analysts’ expectations of $182.98 million. On average, research analysts predict that Altair Engineering Inc. will post 0.87 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ALTR. Needham & Company LLC reissued a “hold” rating on shares of Altair Engineering in a research note on Friday, February 21st. Rosenblatt Securities reissued a “neutral” rating and set a $113.00 price target on shares of Altair Engineering in a research note on Monday, February 24th. One equities research analyst has rated the stock with a sell rating and seven have given a hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $100.83.

Insider Activity at Altair Engineering

In other Altair Engineering news, CMO Amy Messano sold 255 shares of the business’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $111.45, for a total value of $28,419.75. Following the completion of the transaction, the chief marketing officer now directly owns 23,396 shares in the company, valued at approximately $2,607,484.20. The trade was a 1.08 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Teresa A. Harris sold 450 shares of the business’s stock in a transaction on Thursday, March 6th. The shares were 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 of the company’s stock, valued at $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. In the last 90 days, insiders have sold 33,305 shares of company stock valued at $3,592,359. 21.75% of the stock is owned by corporate insiders.

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.