Altair Engineering Inc. (NASDAQ:ALTR) Insider Sells $312,365.76 in Stock

Altair Engineering Inc. (NASDAQ:ALTRGet Rating) insider Uwe Schramm sold 5,934 shares of Altair Engineering stock in a transaction that occurred on Thursday, May 26th. The shares were sold at an average price of $52.64, for a total value of $312,365.76. Following the sale, the insider now owns 44,309 shares in the company, valued at $2,332,425.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Altair Engineering stock opened at $55.09 on Friday. The stock has a market cap of $4.39 billion, a PE ratio of -306.04 and a beta of 1.54. Altair Engineering Inc. has a one year low of $48.77 and a one year high of $82.96. The stock has a fifty day moving average of $57.15 and a 200 day moving average of $64.04.

Altair Engineering (NASDAQ:ALTRGet Rating) last posted its quarterly earnings data on Thursday, May 5th. The software reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.08. The company had revenue of $159.78 million during the quarter, compared to analysts’ expectations of $154.16 million. Altair Engineering had a positive return on equity of 3.27% and a negative net margin of 2.15%. Altair Engineering’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.23 earnings per share. Equities research analysts anticipate that Altair Engineering Inc. will post 0.12 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. David J Yvars Group bought a new position in shares of Altair Engineering in the fourth quarter worth about $26,000. Catalyst Capital Advisors LLC purchased a new stake in shares of Altair Engineering in the fourth quarter worth about $39,000. Meeder Asset Management Inc. purchased a new stake in Altair Engineering during the first quarter valued at approximately $41,000. Point72 Hong Kong Ltd purchased a new stake in Altair Engineering during the third quarter valued at approximately $52,000. Finally, Fifth Third Bancorp raised its position in Altair Engineering by 33.7% during the fourth quarter. Fifth Third Bancorp now owns 860 shares of the software’s stock valued at $66,000 after purchasing an additional 217 shares during the period. 97.47% of the stock is owned by hedge funds and other institutional investors.

A number of brokerages have issued reports on ALTR. Zacks Investment Research cut Altair Engineering from a “buy” rating to a “hold” rating in a research note on Wednesday, March 2nd. The Goldman Sachs Group lowered their price objective on Altair Engineering from $78.00 to $67.00 and set a “neutral” rating for the company in a research note on Monday, March 7th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, Altair Engineering presently has an average rating of “Hold” and an average target price of $80.60.

Altair Engineering Company Profile (Get Rating)

Altair Engineering Inc, together with its subsidiaries, provides software and cloud solutions in the areas of simulation, high-performance computing, data analytics, and artificial intelligence worldwide. The company operates in two segments, Software and Client Engineering Services. The Software segment includes solvers and optimization technology products, high-performance computing software applications and hardware products, modeling and visualization tools, data analytics and analysis products, and Internet of Things platform and analytics tools, as well as support and the complementary software products.

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

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