Altair Engineering Inc (NASDAQ:ALTR) Insider Martin E. Nichols Sells 2,500 Shares

Altair Engineering Inc (NASDAQ:ALTR) insider Martin E. Nichols sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $33.79, for a total value of $84,475.00.

Shares of ALTR stock opened at $34.54 on Friday. Altair Engineering Inc has a 1 year low of $25.28 and a 1 year high of $43.99. The stock has a market cap of $2.51 billion, a PE ratio of 93.35 and a beta of 1.50. The business’s fifty day moving average is $35.09 and its 200-day moving average is $37.43. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.58 and a current ratio of 2.58.

Altair Engineering (NASDAQ:ALTR) last issued its quarterly earnings results on Thursday, August 8th. The software reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.02. Altair Engineering had a return on equity of 9.71% and a net margin of 1.48%. The company had revenue of $106.80 million for the quarter, compared to analysts’ expectations of $108.69 million. During the same period last year, the firm earned $0.05 EPS. The firm’s revenue for the quarter was up 13.7% on a year-over-year basis. Equities research analysts predict that Altair Engineering Inc will post 0.49 earnings per share for the current year.

Hedge funds have recently modified their holdings of the company. Captrust Financial Advisors acquired a new position in shares of Altair Engineering during the 2nd quarter valued at $39,000. Advisor Group Inc. increased its position in shares of Altair Engineering by 63.7% during the 2nd quarter. Advisor Group Inc. now owns 1,020 shares of the software’s stock valued at $41,000 after purchasing an additional 397 shares during the period. Hilton Capital Management LLC acquired a new position in shares of Altair Engineering during the 1st quarter valued at $50,000. Tower Research Capital LLC TRC increased its position in shares of Altair Engineering by 116.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,751 shares of the software’s stock valued at $71,000 after purchasing an additional 942 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Altair Engineering during the 2nd quarter valued at $73,000. Institutional investors own 45.62% of the company’s stock.

Several analysts recently commented on the company. Deutsche Bank cut Altair Engineering from a “buy” rating to a “hold” rating and set a $36.00 target price on the stock. in a research report on Friday, August 9th. Zacks Investment Research upgraded Altair Engineering from a “sell” rating to a “hold” rating in a research report on Wednesday. Needham & Company LLC restated a “buy” rating and issued a $40.00 target price (down from $42.00) on shares of Altair Engineering in a research report on Monday, August 12th. Finally, JPMorgan Chase & Co. restated an “underweight” rating on shares of Altair Engineering in a research report on Wednesday, September 11th. One analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the stock. Altair Engineering currently has a consensus rating of “Hold” and an average price target of $39.14.

About Altair Engineering

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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Insider Buying and Selling by Quarter for Altair Engineering (NASDAQ:ALTR)

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