Insider Selling: Altair Engineering Inc (ALTR) Insider Sells 2,500 Shares of Stock
Altair Engineering Inc (NASDAQ:ALTR) insider Martin E. Nichols sold 2,500 shares of the firm’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $34.76, for a total value of $86,900.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.
NASDAQ:ALTR opened at $36.00 on Monday. The stock has a market cap of $2.56 billion, a P/E ratio of 97.30 and a beta of 1.60. Altair Engineering Inc has a 52-week low of $25.28 and a 52-week high of $43.99. The company has a current ratio of 1.09, a quick ratio of 1.06 and a debt-to-equity ratio of 0.12.
Altair Engineering (NASDAQ:ALTR) last released its earnings results on Thursday, May 9th. The software reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.04. The firm had revenue of $127.86 million for the quarter, compared to analyst estimates of $125.82 million. Altair Engineering had a return on equity of 11.56% and a net margin of 2.62%. Altair Engineering’s revenue was up 12.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.35 earnings per share. Sell-side analysts anticipate that Altair Engineering Inc will post 0.52 earnings per share for the current fiscal year.
A number of research firms have issued reports on ALTR. ValuEngine cut Altair Engineering from a “buy” rating to a “hold” rating in a research note on Saturday. Zacks Investment Research upgraded Altair Engineering from a “sell” rating to a “hold” rating in a research note on Monday, May 6th. Needham & Company LLC reiterated a “buy” rating and issued a $40.00 target price on shares of Altair Engineering in a research note on Friday, March 1st. Finally, Guggenheim began coverage on Altair Engineering in a report on Tuesday, March 19th. They set a “neutral” rating and a $37.70 price target on the stock. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $38.67.
Altair Engineering Company Profile
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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