SG Americas Securities LLC Acquires New Stake in Altair Engineering Inc (ALTR)

SG Americas Securities LLC acquired a new stake in shares of Altair Engineering Inc (NASDAQ:ALTR) during the fourth quarter, Holdings Channel reports. The firm acquired 89,692 shares of the software’s stock, valued at approximately $2,474,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ALTR. Alliancebernstein L.P. increased its position in shares of Altair Engineering by 870.0% during the third quarter. Alliancebernstein L.P. now owns 1,457,602 shares of the software’s stock valued at $63,333,000 after purchasing an additional 1,307,332 shares during the period. BlackRock Inc. increased its position in shares of Altair Engineering by 15.3% during the third quarter. BlackRock Inc. now owns 2,536,341 shares of the software’s stock valued at $110,204,000 after purchasing an additional 337,323 shares during the period. Marshall Wace LLP increased its position in shares of Altair Engineering by 1,381.5% during the third quarter. Marshall Wace LLP now owns 306,531 shares of the software’s stock valued at $13,319,000 after purchasing an additional 285,840 shares during the period. Vanguard Group Inc increased its position in shares of Altair Engineering by 11.4% during the third quarter. Vanguard Group Inc now owns 2,733,081 shares of the software’s stock valued at $118,752,000 after purchasing an additional 280,056 shares during the period. Finally, Vanguard Group Inc. increased its position in shares of Altair Engineering by 11.4% during the third quarter. Vanguard Group Inc. now owns 2,733,081 shares of the software’s stock valued at $118,752,000 after purchasing an additional 280,056 shares during the period. Institutional investors and hedge funds own 38.16% of the company’s stock.

Shares of NASDAQ:ALTR opened at $33.71 on Monday. Altair Engineering Inc has a fifty-two week low of $24.21 and a fifty-two week high of $43.99. The firm has a market capitalization of $2.37 billion, a price-to-earnings ratio of -53.51 and a beta of 1.62.

Altair Engineering (NASDAQ:ALTR) last announced its quarterly earnings results on Thursday, November 8th. The software reported $0.06 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.06. The firm had revenue of $93.87 million for the quarter, compared to analysts’ expectations of $95.48 million. Altair Engineering had a positive return on equity of 13.76% and a negative net margin of 12.83%. On average, equities research analysts anticipate that Altair Engineering Inc will post 0.32 EPS for the current fiscal year.

A number of analysts have recently issued reports on the company. ValuEngine upgraded Altair Engineering from a “hold” rating to a “buy” rating in a research report on Monday, February 4th. Zacks Investment Research upgraded Altair Engineering from a “hold” rating to a “buy” rating and set a $32.00 price objective on the stock in a research report on Wednesday, January 9th. Finally, Canaccord Genuity restated a “hold” rating and set a $36.00 price objective on shares of Altair Engineering in a research report on Tuesday, November 13th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $38.29.

ILLEGAL ACTIVITY WARNING: “SG Americas Securities LLC Acquires New Stake in Altair Engineering Inc (ALTR)” was originally reported by Chaffey Breeze and is the sole property of of Chaffey Breeze. If you are reading this story on another domain, it was copied illegally and republished in violation of United States & international copyright and trademark laws. The correct version of this story can be accessed at https://www.chaffeybreeze.com/2019/02/11/sg-americas-securities-llc-acquires-new-stake-in-altair-engineering-inc-altr.html.

Altair Engineering Company Profile

Altair Engineering Inc, together with its subsidiaries, provides enterprise-class engineering software 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, as well as provides data analytics and true-to-life visualization and rendering.

Featured Article: 52-Week High/Low Prices For Stock Selection

Want to see what other hedge funds are holding ALTR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Altair Engineering Inc (NASDAQ:ALTR).

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

Receive News & Ratings for Altair Engineering Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Altair Engineering and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply