Teacher Retirement System of Texas Grows Position in Altair Engineering Inc. (NASDAQ:ALTR)

Teacher Retirement System of Texas lifted its holdings in shares of Altair Engineering Inc. (NASDAQ:ALTR) by 18.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,193 shares of the software’s stock after buying an additional 804 shares during the period. Teacher Retirement System of Texas’ holdings in Altair Engineering were worth $358,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Prudential Financial Inc. boosted its position in shares of Altair Engineering by 4.8% during the first quarter. Prudential Financial Inc. now owns 3,718 shares of the software’s stock valued at $233,000 after buying an additional 170 shares during the last quarter. Arizona State Retirement System boosted its position in Altair Engineering by 2.7% in the first quarter. Arizona State Retirement System now owns 11,958 shares of the software’s stock worth $748,000 after purchasing an additional 320 shares during the last quarter. Great West Life Assurance Co. Can boosted its position in Altair Engineering by 18.4% in the first quarter. Great West Life Assurance Co. Can now owns 2,733 shares of the software’s stock worth $169,000 after purchasing an additional 425 shares during the last quarter. Quantbot Technologies LP boosted its position in Altair Engineering by 1,620.0% in the first quarter. Quantbot Technologies LP now owns 516 shares of the software’s stock worth $32,000 after purchasing an additional 486 shares during the last quarter. Finally, First Trust Advisors LP boosted its position in Altair Engineering by 0.9% in the first quarter. First Trust Advisors LP now owns 59,237 shares of the software’s stock worth $2,181,000 after purchasing an additional 511 shares during the last quarter. 58.53% of the stock is currently owned by institutional investors.

ALTR stock opened at $75.27 on Wednesday. Altair Engineering Inc. has a twelve month low of $38.63 and a twelve month high of $76.91. The stock has a market cap of $5.68 billion, a P/E ratio of -836.33 and a beta of 1.50. The business’s 50-day moving average price is $71.16 and its 200-day moving average price is $66.93.

Altair Engineering (NASDAQ:ALTR) last issued its earnings results on Thursday, August 5th. The software reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.07. The company had revenue of $119.91 million for the quarter, compared to the consensus estimate of $111.50 million. Altair Engineering had a positive return on equity of 4.74% and a negative net margin of 1.10%. As a group, equities analysts forecast that Altair Engineering Inc. will post 0.13 earnings per share for the current year.

In other Altair Engineering news, major shareholder Jrs Investments Llc sold 9,993 shares of Altair Engineering stock in a transaction that occurred on Thursday, June 17th. The stock was sold at an average price of $63.00, for a total value of $629,559.00. Following the sale, the insider now owns 9,940 shares of the company’s stock, valued at approximately $626,220. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO James Ralph Scapa sold 19,933 shares of Altair Engineering stock in a transaction that occurred on Thursday, June 17th. The stock was sold at an average price of $62.99, for a total value of $1,255,579.67. The disclosure for this sale can be found here. Insiders have sold a total of 371,005 shares of company stock worth $25,901,243 in the last three months. 25.26% of the stock is owned by corporate insiders.

Several brokerages have issued reports on ALTR. William Blair reissued a “buy” rating on shares of Altair Engineering in a research report on Tuesday, September 7th. Zacks Investment Research raised Altair Engineering from a “hold” rating to a “buy” rating and set a $79.00 target price on the stock in a research report on Tuesday, August 10th. Rosenblatt Securities raised their target price on Altair Engineering from $79.00 to $80.00 and gave the stock a “buy” rating in a research report on Friday, August 6th. Royal Bank of Canada lifted their price objective on Altair Engineering from $64.00 to $74.00 and gave the company a “sector perform” rating in a research report on Friday, August 6th. Finally, Guggenheim reaffirmed a “hold” rating on shares of Altair Engineering in a research report on Sunday, May 30th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $71.00.

Altair Engineering Profile

Altair Engineering, Inc engages in the provision of software and cloud solutions for product design & development, high performance cloud computing and data intelligence. It operates through the following segments: Software and Client Engineering Services. The Software segment includes a portfolio of software products; as well as solvers and optimization technology products, modelling and visualization tools.

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

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