Altair Engineering (NASDAQ:ALTR) Issues Quarterly Earnings Results

Altair Engineering (NASDAQ:ALTR) posted its earnings results on Wednesday. The software reported $0.09 EPS for the quarter, topping the consensus estimate of $0.02 by $0.07, reports. The firm had revenue of $151.45 million for the quarter, compared to analysts’ expectations of $146.55 million. Altair Engineering had a net margin of 4.26% and a return on equity of 6.89%.

Altair Engineering Price Performance

Shares of NASDAQ ALTR opened at $103.99 on Friday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 3.14 and a current ratio of 3.14. Altair Engineering has a fifty-two week low of $57.59 and a fifty-two week high of $113.12. The stock has a market cap of $8.63 billion, a PE ratio of 1,155.44, a price-to-earnings-growth ratio of 12.15 and a beta of 1.45. The stock has a fifty day moving average of $94.03 and a 200-day moving average of $91.38.

Analyst Ratings Changes

ALTR has been the topic of a number of recent analyst reports. Royal Bank of Canada lifted their price target on Altair Engineering from $90.00 to $113.00 and gave the stock a “sector perform” rating in a report on Thursday. Rosenblatt Securities raised their price target on shares of Altair Engineering from $88.00 to $113.00 and gave the stock a “neutral” rating in a research note on Thursday. Needham & Company LLC reiterated a “hold” rating and issued a $100.00 price objective on shares of Altair Engineering in a research note on Thursday. The Goldman Sachs Group downgraded Altair Engineering from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $85.00 to $71.00 in a research report on Friday, August 2nd. Finally, Loop Capital reaffirmed a “hold” rating and set a $113.00 price target on shares of Altair Engineering in a research report on Thursday. One research analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $100.71.

Insider Buying and Selling

In other Altair Engineering news, Director Teresa A. Harris sold 620 shares of Altair Engineering stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $82.57, for a total transaction of $51,193.40. Following the completion of the transaction, the director now owns 21,242 shares of the company’s stock, valued at $1,753,951.94. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Teresa A. Harris sold 620 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $82.57, for a total transaction of $51,193.40. Following the completion of the transaction, the director now directly owns 21,242 shares in the company, valued at $1,753,951.94. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Jrs Investments Llc sold 6,500 shares of the company’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $102.59, for a total transaction of $666,835.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 360,360 shares of company stock valued at $35,476,660. Corporate insiders own 21.75% of the company’s stock.

Institutional Trading of Altair Engineering

Large investors have recently modified their holdings of the business. Principal Financial Group Inc. lifted its position in Altair Engineering by 288.6% during the first quarter. Principal Financial Group Inc. now owns 24,357 shares of the software’s stock valued at $2,098,000 after purchasing an additional 18,089 shares during the last quarter. Daiwa Securities Group Inc. purchased a new position in Altair Engineering in the first quarter worth $1,465,000. GSA Capital Partners LLP increased its stake in Altair Engineering by 355.9% in the first quarter. GSA Capital Partners LLP now owns 24,852 shares of the software’s stock valued at $2,141,000 after acquiring an additional 19,401 shares during the last quarter. SG Americas Securities LLC purchased a new stake in Altair Engineering during the first quarter valued at about $177,000. Finally, Swiss National Bank lifted its stake in Altair Engineering by 1.2% during the first quarter. Swiss National Bank now owns 107,800 shares of the software’s stock worth $9,287,000 after purchasing an additional 1,300 shares during the last quarter. Institutional investors own 63.38% of the company’s stock.

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.