Schechter Investment Advisors LLC Reduces Position in Altair Engineering Inc. (NASDAQ:ALTR)

Schechter Investment Advisors LLC trimmed its stake in Altair Engineering Inc. (NASDAQ:ALTRFree Report) by 3.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,661 shares of the software’s stock after selling 165 shares during the period. Schechter Investment Advisors LLC’s holdings in Altair Engineering were worth $292,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Altshuler Shaham Ltd purchased a new stake in Altair Engineering in the second quarter worth about $28,000. Fifth Third Bancorp lifted its holdings in Altair Engineering by 41.3% during the second quarter. Fifth Third Bancorp now owns 937 shares of the software’s stock valued at $71,000 after purchasing an additional 274 shares in the last quarter. UBS Group AG boosted its position in shares of Altair Engineering by 48.7% in the fourth quarter. UBS Group AG now owns 938 shares of the software’s stock worth $43,000 after purchasing an additional 307 shares during the period. Allspring Global Investments Holdings LLC boosted its position in shares of Altair Engineering by 10.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,991 shares of the software’s stock worth $125,000 after purchasing an additional 190 shares during the period. Finally, SG Americas Securities LLC increased its stake in shares of Altair Engineering by 31.3% in the third quarter. SG Americas Securities LLC now owns 2,171 shares of the software’s stock worth $136,000 after purchasing an additional 518 shares in the last quarter. 63.38% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. started coverage on shares of Altair Engineering in a research note on Friday, December 22nd. They set an “overweight” rating and a $86.00 target price on the stock. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Altair Engineering currently has an average rating of “Moderate Buy” and an average target price of $74.86.

Check Out Our Latest Research Report on ALTR

Altair Engineering Price Performance

Shares of NASDAQ:ALTR opened at $86.82 on Wednesday. The firm has a market cap of $7.09 billion, a price-to-earnings ratio of -413.41, a P/E/G ratio of 25.67 and a beta of 1.47. The firm has a fifty day moving average price of $78.87 and a 200 day moving average price of $70.54. Altair Engineering Inc. has a fifty-two week low of $52.41 and a fifty-two week high of $88.99. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.99 and a current ratio of 1.99.

Altair Engineering (NASDAQ:ALTRGet Free Report) last released its quarterly earnings data on Thursday, November 2nd. The software reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.13) by $0.14. The business had revenue of $134.00 million during the quarter, compared to the consensus estimate of $127.50 million. Altair Engineering had a negative net margin of 2.75% and a positive return on equity of 1.82%. As a group, sell-side analysts expect that Altair Engineering Inc. will post 0.33 earnings per share for the current fiscal year.

Insider Activity at Altair Engineering

In other Altair Engineering news, insider Jeffrey Marraccini sold 3,711 shares of Altair Engineering stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $67.58, for a total value of $250,789.38. Following the sale, the insider now owns 4,142 shares of the company’s stock, valued at approximately $279,916.36. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Altair Engineering news, insider Jeffrey Marraccini sold 3,711 shares of Altair Engineering stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $67.58, for a total value of $250,789.38. Following the completion of the transaction, the insider now directly owns 4,142 shares of the company’s stock, valued at approximately $279,916.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder George J. Christ sold 100,000 shares of the company’s stock in a transaction dated Tuesday, January 23rd. The shares were sold at an average price of $87.32, for a total transaction of $8,732,000.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 326,766 shares of company stock valued at $25,514,384. Insiders own 22.17% of the company’s stock.

Altair Engineering Profile

(Free Report)

Altair Engineering Inc, together with its subsidiaries, provides software and cloud solutions in the areas of simulation, high-performance computing, data analytics, and artificial intelligence in the United States and internationally. The company operates in two segments: Software and Client Engineering Services.

See Also

Institutional Ownership by Quarter for Altair Engineering (NASDAQ:ALTR)

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