Altair Engineering (NASDAQ:ALTR) Trading Up 6.2%

Altair Engineering Inc (NASDAQ:ALTR) was up 6.2% during trading on Thursday . The company traded as high as $32.04 and last traded at $32.02, approximately 491,300 shares were traded during trading. An increase of 35% from the average daily volume of 363,745 shares. The stock had previously closed at $30.15.

A number of research analysts have commented on ALTR shares. Goldman Sachs Group initiated coverage on shares of Altair Engineering in a research report on Tuesday, November 12th. They set a “neutral” rating and a $34.00 price target on the stock. William Blair cut shares of Altair Engineering from an “outperform” rating to a “market perform” rating in a report on Friday, November 8th. JPMorgan Chase & Co. cut their target price on shares of Altair Engineering from $34.00 to $30.00 and set an “underweight” rating on the stock in a report on Friday, November 8th. Needham & Company LLC restated a “buy” rating and issued a $38.00 target price on shares of Altair Engineering in a report on Friday, November 8th. Finally, Deutsche Bank cut shares of Altair Engineering from a “buy” rating to a “hold” rating and set a $36.00 target price on the stock. in a report on Friday, August 9th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $36.95.

The company has a quick ratio of 2.52, a current ratio of 2.52 and a debt-to-equity ratio of 0.57. The stock has a market cap of $2.07 billion, a P/E ratio of 86.54 and a beta of 1.50. The firm’s fifty day moving average price is $33.70 and its 200-day moving average price is $36.34.

Altair Engineering (NASDAQ:ALTR) last issued its earnings results on Thursday, November 7th. The software reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.14). The firm had revenue of $102.70 million during the quarter, compared to the consensus estimate of $105.04 million. Altair Engineering had a positive return on equity of 4.40% and a negative net margin of 3.85%. The firm’s revenue for the quarter was up 18.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.10 EPS. Sell-side analysts predict that Altair Engineering Inc will post 0.2 earnings per share for the current year.

In other Altair Engineering news, CEO James Ralph Scapa sold 90,000 shares of the firm’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $33.54, for a total transaction of $3,018,600.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Uwe Schramm sold 8,000 shares of the firm’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $30.00, for a total value of $240,000.00. In the last quarter, insiders sold 355,215 shares of company stock worth $12,005,749. 29.27% of the stock is currently owned by company insiders.

A number of institutional investors have recently made changes to their positions in the business. Captrust Financial Advisors purchased a new position in shares of Altair Engineering in the 2nd quarter worth about $39,000. Advisor Group Inc. raised its position in shares of Altair Engineering by 63.7% in the 2nd quarter. Advisor Group Inc. now owns 1,020 shares of the software’s stock worth $41,000 after purchasing an additional 397 shares during the last quarter. Tower Research Capital LLC TRC raised its position in shares of Altair Engineering by 116.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,751 shares of the software’s stock worth $71,000 after purchasing an additional 942 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Altair Engineering in the 2nd quarter worth about $73,000. Finally, US Bancorp DE raised its position in shares of Altair Engineering by 83.5% in the 2nd quarter. US Bancorp DE now owns 2,299 shares of the software’s stock worth $93,000 after purchasing an additional 1,046 shares during the last quarter. 67.92% of the stock is owned by institutional investors and hedge funds.

About Altair Engineering (NASDAQ:ALTR)

Altair Engineering Inc, together with its subsidiaries, provides software and cloud solutions worldwide. The company operates through two segments, Software and Client Engineering Services. Its integrated suite of multi-disciplinary computer aided engineering software optimizes design performance across various disciplines, including structures, motion, fluids, thermal management, electromagnetics, system modeling and embedded systems.

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