Candriam S.C.A. Purchases 125,816 Shares of Altair Engineering Inc. (NASDAQ:ALTR)

Candriam S.C.A. increased its position in Altair Engineering Inc. (NASDAQ:ALTR) by 28.9% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 560,565 shares of the software’s stock after purchasing an additional 125,816 shares during the quarter. Candriam S.C.A. owned approximately 0.68% of Altair Engineering worth $54,978,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the company. Wellington Management Group LLP increased its position in Altair Engineering by 97.3% during the fourth quarter. Wellington Management Group LLP now owns 1,182,339 shares of the software’s stock worth $99,494,000 after buying an additional 583,127 shares during the last quarter. Russell Investments Group Ltd. raised its stake in Altair Engineering by 5,564.8% in the 1st quarter. Russell Investments Group Ltd. now owns 31,043 shares of the software’s stock valued at $2,676,000 after acquiring an additional 30,495 shares during the period. Matrix Capital Management Company LP lifted its holdings in Altair Engineering by 8.3% during the 4th quarter. Matrix Capital Management Company LP now owns 12,233,174 shares of the software’s stock valued at $1,029,422,000 after purchasing an additional 932,717 shares during the last quarter. Bain Capital Public Equity LP bought a new position in Altair Engineering during the fourth quarter worth $6,376,000. Finally, Linden Thomas Advisory Services LLC acquired a new position in shares of Altair Engineering in the second quarter valued at $629,000. 63.38% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently commented on the stock. The Goldman Sachs Group downgraded shares of Altair Engineering from a “neutral” rating to a “sell” rating and reduced their target price for the stock from $85.00 to $71.00 in a report on Friday, August 2nd. JPMorgan Chase & Co. lowered Altair Engineering from an “overweight” rating to a “neutral” rating and set a $95.00 target price on the stock. in a research note on Monday, July 15th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $100.00 price objective on shares of Altair Engineering in a report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Altair Engineering presently has an average rating of “Hold” and a consensus target price of $90.67.

Altair Engineering Stock Down 1.4 %

NASDAQ ALTR opened at $84.84 on Friday. The company has a current ratio of 3.14, a quick ratio of 3.14 and a debt-to-equity ratio of 0.29. The company has a market cap of $7.04 billion, a price-to-earnings ratio of 942.67, a PEG ratio of 11.54 and a beta of 1.48. The company has a 50 day moving average of $90.76 and a 200-day moving average of $88.29. Altair Engineering Inc. has a 1-year low of $57.59 and a 1-year high of $101.39.

Altair Engineering (NASDAQ:ALTR) last announced its quarterly earnings data on Thursday, August 1st. The software reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.01. The firm had revenue of $148.80 million during the quarter, compared to analysts’ expectations of $146.88 million. Altair Engineering had a return on equity of 6.89% and a net margin of 4.26%. The company’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.15) EPS. On average, equities research analysts expect that Altair Engineering Inc. will post 0.65 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, major shareholder George J. Christ sold 100,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $97.23, for a total value of $9,723,000.00. Following the completion of the transaction, the insider now directly owns 100,000 shares in the company, valued at approximately $9,723,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Altair Engineering news, CAO Brian Gayle sold 1,866 shares of Altair Engineering stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $96.57, for a total value of $180,199.62. Following the transaction, the chief accounting officer now owns 16,557 shares in the company, valued at $1,598,909.49. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder George J. Christ sold 100,000 shares of the stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $97.23, for a total transaction of $9,723,000.00. Following the completion of the transaction, the insider now directly owns 100,000 shares of the company’s stock, valued at approximately $9,723,000. The disclosure for this sale can be found here. Insiders sold 276,256 shares of company stock valued at $26,558,224 over the last quarter. 21.75% of the stock is owned by company insiders.

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.