Altair Engineering Inc’s Quiet Period Set To Expire on December 11th (NASDAQ:ALTR)

Altair Engineering’s (NASDAQ:ALTR) quiet period will expire on Monday, December 11th. Altair Engineering had issued 12,000,000 shares in its IPO on November 1st. The total size of the offering was $156,000,000 based on an initial share price of $13.00. During Altair Engineering’s quiet period, underwriters and any insiders that worked on the IPO are restricted from issuing any research reports or earnings estimates for the company because of regulations issued by the Securities and Exchange Commission. Following the expiration of the company’s quiet period, the brokerages that served as underwriters will likely initiate research coverage on the company.

A number of analysts have recently commented on the company. Deutsche Bank assumed coverage on Altair Engineering in a report on Monday, November 27th. They issued a “buy” rating and a $28.00 price target on the stock. Royal Bank Of Canada assumed coverage on Altair Engineering in a report on Monday, November 27th. They issued a “sector perform” rating and a $26.00 price target on the stock. William Blair assumed coverage on Altair Engineering in a report on Monday, November 27th. They issued an “outperform” rating on the stock. Canaccord Genuity assumed coverage on Altair Engineering in a report on Monday, November 27th. They issued a “hold” rating and a $25.00 price target on the stock. Finally, J P Morgan Chase & Co assumed coverage on Altair Engineering in a report on Monday, November 27th. They issued a “neutral” rating and a $25.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $26.00.

Shares of Altair Engineering (NASDAQ:ALTR) opened at $22.20 on Friday. Altair Engineering has a twelve month low of $16.55 and a twelve month high of $25.59. The company has a debt-to-equity ratio of -1.31, a quick ratio of 0.51 and a current ratio of 0.52.

Altair Engineering (NASDAQ:ALTR) last issued its quarterly earnings results on Thursday, November 30th. The semiconductor manufacturer reported ($0.59) EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.63). The firm had revenue of $84.90 million during the quarter, compared to the consensus estimate of $83.07 million. The business’s revenue for the quarter was up 8.7% compared to the same quarter last year. equities research analysts predict that Altair Engineering will post 0.22 EPS for the current year.

In related news, CEO James Ralph Scapa sold 1,734,996 shares of Altair Engineering stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $12.09, for a total value of $20,976,101.64. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Gc Investments Llc sold 800,000 shares of Altair Engineering stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $12.09, for a total value of $9,672,000.00. The disclosure for this sale can be found here. 0.69% of the stock is currently owned by insiders.

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About Altair Engineering

Altair Engineering Inc is a United States-based software company. The Company is focused on developing engineering software and computing technologies. The Company’s products include HyperWorks, solidThinking, PBS Works, and Carriots. The Company offers a range of solutions such as product engineering, industrial design, and tailored solutions.

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