Magnetar Financial LLC Purchases Shares of 569,534 Altair Engineering Inc. (NASDAQ:ALTR)

Magnetar Financial LLC bought a new position in Altair Engineering Inc. (NASDAQ:ALTR) in the fourth quarter, HoldingsChannel reports. The firm bought 569,534 shares of the software’s stock, valued at approximately $62,142,000. Altair Engineering accounts for 1.5% of Magnetar Financial LLC’s holdings, making the stock its 19th largest holding.

A number of other institutional investors and hedge funds have also recently modified their holdings of ALTR. Massachusetts Financial Services Co. MA boosted its holdings in shares of Altair Engineering by 31.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 392,343 shares of the software’s stock worth $37,473,000 after purchasing an additional 94,219 shares during the period. Fisher Asset Management LLC boosted its holdings in Altair Engineering by 27.0% during the 3rd quarter. Fisher Asset Management LLC now owns 401,612 shares of the software’s stock valued at $38,358,000 after acquiring an additional 85,303 shares during the period. New York Life Investment Management LLC boosted its holdings in 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 valued at $8,332,000 after acquiring an additional 70,017 shares during the period. State Street Corp boosted its holdings in Altair Engineering by 3.3% during the 3rd quarter. State Street Corp now owns 2,053,957 shares of the software’s stock valued at $196,173,000 after acquiring an additional 65,589 shares during the period. Finally, Versor Investments LP boosted its holdings in Altair Engineering by 1,069.9% during the 4th quarter. Versor Investments LP now owns 59,655 shares of the software’s stock valued at $6,509,000 after acquiring an additional 54,556 shares during the period. Hedge funds and other institutional investors own 63.38% of the company’s stock.

Insider Transactions at Altair Engineering

In other news, CRO Nelson Dias sold 1,671 shares of the business’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $111.30, for a total value of $185,982.30. Following the completion of the transaction, the executive now directly owns 55,411 shares of the company’s stock, valued at approximately $6,167,244.30. The trade was a 2.93 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Matthew Charles Brown sold 1,048 shares of the business’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $108.90, for a total value of $114,127.20. Following the completion of the transaction, the chief financial officer now directly owns 55,519 shares of the company’s stock, valued at approximately $6,046,019.10. The trade was a 1.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 13,220 shares of company stock valued at $1,470,974. Corporate insiders own 21.75% of the company’s stock.

Altair Engineering Stock Up 0.2 %

Shares of NASDAQ ALTR opened at $111.67 on Thursday. The business has a fifty day simple moving average of $110.86 and a two-hundred day simple moving average of $104.30. The firm has a market cap of $9.58 billion, a PE ratio of 656.88, a price-to-earnings-growth ratio of 10.75 and a beta of 1.45. Altair Engineering Inc. has a twelve month low of $75.71 and a twelve month high of $113.12.

Altair Engineering (NASDAQ:ALTR) last issued its earnings results 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 firm had revenue of $192.63 million for the quarter, compared to the consensus estimate of $182.98 million. Altair Engineering had a net margin of 2.13% and a return on equity of 8.08%. On average, research analysts expect that Altair Engineering Inc. will post 0.87 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms recently issued reports on ALTR. Needham & Company LLC restated a “hold” rating on shares of Altair Engineering in a report on Friday, February 21st. Rosenblatt Securities restated a “neutral” rating and set a $113.00 price objective on shares of Altair Engineering in a report on Monday, February 24th. One research 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.com, the company presently has a consensus rating of “Hold” and an average target price of $100.83.

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.