Altair Engineering Inc (NASDAQ:ALTR) President Sells $452,674.20 in Stock

Altair Engineering Inc (NASDAQ:ALTR) President Brett R. Chouinard sold 12,820 shares of the business’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $35.31, for a total value of $452,674.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

ALTR stock traded up $0.37 during midday trading on Wednesday, reaching $35.91. The company had a trading volume of 1,001 shares, compared to its average volume of 495,025. The company has a quick ratio of 1.06, a current ratio of 1.09 and a debt-to-equity ratio of 0.12. Altair Engineering Inc has a fifty-two week low of $25.28 and a fifty-two week high of $43.99. The company has a market cap of $2.51 billion, a P/E ratio of 97.26 and a beta of 1.51.

Altair Engineering (NASDAQ:ALTR) last issued its earnings results on Thursday, May 9th. The software reported $0.26 EPS for the quarter, beating the Zacks’ consensus estimate of $0.22 by $0.04. Altair Engineering had a return on equity of 11.56% and a net margin of 2.62%. The company had revenue of $127.86 million during the quarter, compared to the consensus estimate of $125.82 million. During the same period in the previous year, the firm posted $0.35 earnings per share. Altair Engineering’s quarterly revenue was up 12.9% compared to the same quarter last year. Analysts expect that Altair Engineering Inc will post 0.52 EPS for the current fiscal year.

Several analysts recently weighed in on ALTR shares. ValuEngine lowered Altair Engineering from a “buy” rating to a “hold” rating in a report on Saturday, May 18th. Zacks Investment Research raised Altair Engineering from a “hold” rating to a “buy” rating and set a $40.00 price objective for the company in a report on Monday, May 20th. Needham & Company LLC reissued a “buy” rating and issued a $40.00 price objective on shares of Altair Engineering in a report on Friday, March 1st. Finally, Guggenheim started coverage on Altair Engineering in a report on Tuesday, March 19th. They issued a “neutral” rating and a $37.70 price objective for the company. Five analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Altair Engineering has a consensus rating of “Hold” and a consensus target price of $39.81.

A number of hedge funds have recently modified their holdings of the business. Well Done LLC increased its holdings in shares of Altair Engineering by 0.7% in the first quarter. Well Done LLC now owns 52,106 shares of the software’s stock valued at $1,918,000 after buying an additional 355 shares in the last quarter. Rhumbline Advisers increased its holdings in shares of Altair Engineering by 30.8% in the fourth quarter. Rhumbline Advisers now owns 33,604 shares of the software’s stock valued at $927,000 after buying an additional 7,916 shares in the last quarter. Oppenheimer Asset Management Inc. bought a new position in shares of Altair Engineering in the fourth quarter valued at $199,000. Tibra Equities Europe Ltd bought a new position in shares of Altair Engineering in the fourth quarter valued at $334,000. Finally, Legal & General Group Plc increased its holdings in shares of Altair Engineering by 313.6% in the fourth quarter. Legal & General Group Plc now owns 18,869 shares of the software’s stock valued at $520,000 after buying an additional 14,307 shares in the last quarter. Institutional investors own 38.76% of the company’s stock.

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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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