Massachusetts Financial Services Co. MA Has $10.17 Million Holdings in Altair Engineering Inc. (NASDAQ:ALTR)

Massachusetts Financial Services Co. MA increased its position in shares of Altair Engineering Inc. (NASDAQ:ALTR) by 303.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 147,428 shares of the software’s stock after acquiring an additional 110,894 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Altair Engineering were worth $10,168,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ALTR. ProShare Advisors LLC boosted its position in Altair Engineering by 1.5% in the second quarter. ProShare Advisors LLC now owns 11,777 shares of the software’s stock valued at $812,000 after buying an additional 173 shares in the last quarter. AlphaCrest Capital Management LLC raised its stake in Altair Engineering by 1.1% during the second quarter. AlphaCrest Capital Management LLC now owns 24,380 shares of the software’s stock worth $1,681,000 after buying an additional 254 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Altair Engineering by 3.3% during the second quarter. Dimensional Fund Advisors LP now owns 259,974 shares of the software’s stock worth $17,933,000 after buying an additional 8,370 shares during the last quarter. SG Americas Securities LLC grew its holdings in Altair Engineering by 17.6% in the second quarter. SG Americas Securities LLC now owns 51,279 shares of the software’s stock worth $3,537,000 after purchasing an additional 7,685 shares during the period. Finally, Polen Capital Management LLC grew its holdings in Altair Engineering by 6.4% in the second quarter. Polen Capital Management LLC now owns 109,101 shares of the software’s stock worth $7,525,000 after purchasing an additional 6,572 shares during the period. Institutional investors and hedge funds own 58.53% of the company’s stock.

In other news, insider Uwe Schramm sold 5,000 shares of the business’s stock in a transaction on Monday, August 9th. The shares were sold at an average price of $72.00, for a total transaction of $360,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Jrs Investments Llc sold 4,742 shares of the business’s stock in a transaction on Monday, July 19th. The shares were sold at an average price of $64.95, for a total transaction of $307,992.90. Following the sale, the insider now directly owns 4,742 shares of the company’s stock, valued at $307,992.90. The disclosure for this sale can be found here. In the last three months, insiders sold 331,758 shares of company stock worth $23,922,686. 25.26% of the stock is currently owned by insiders.

Shares of Altair Engineering stock opened at $72.61 on Thursday. Altair Engineering Inc. has a 1 year low of $42.48 and a 1 year high of $76.91. The company has a 50-day moving average of $72.82 and a 200 day moving average of $68.51. The firm has a market cap of $5.48 billion, a price-to-earnings ratio of -806.78 and a beta of 1.50.

Altair Engineering (NASDAQ:ALTR) last announced its quarterly earnings results on Thursday, August 5th. The software reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.07. The firm had revenue of $119.91 million for the quarter, compared to the consensus estimate of $111.50 million. Altair Engineering had a negative net margin of 1.10% and a positive return on equity of 4.74%. Equities analysts anticipate that Altair Engineering Inc. will post 0.13 EPS for the current fiscal year.

A number of research analysts have recently issued reports on ALTR shares. Royal Bank of Canada lifted their price objective on shares of Altair Engineering from $64.00 to $74.00 and gave the company a “sector perform” rating in a report on Friday, August 6th. William Blair reaffirmed a “buy” rating on shares of Altair Engineering in a research report on Tuesday, September 7th. Rosenblatt Securities lifted their price objective on shares of Altair Engineering from $79.00 to $80.00 and gave the stock a “buy” rating in a research report on Friday, August 6th. Finally, Zacks Investment Research lowered shares of Altair Engineering from a “buy” rating to a “hold” rating in a research report on Tuesday, October 5th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Altair Engineering presently has an average rating of “Buy” and a consensus price target of $71.00.

Altair Engineering Company Profile

Altair Engineering, Inc engages in the provision of software and cloud solutions for product design & development, high performance cloud computing and data intelligence. It operates through the following segments: Software and Client Engineering Services. The Software segment includes a portfolio of software products; as well as solvers and optimization technology products, modelling and visualization tools.

Further Reading: Capital Gains

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Institutional Ownership by Quarter for Altair Engineering (NASDAQ:ALTR)

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