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 large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in Altair Engineering by 11.4% during the third quarter. Vanguard Group Inc. now owns 2,733,081 shares of the software’s stock worth $118,752,000 after acquiring an additional 280,056 shares during the period. Neuberger Berman Group LLC boosted its position in shares of Altair Engineering by 20.9% in the 1st quarter. Neuberger Berman Group LLC now owns 2,707,777 shares of the software’s stock valued at $99,673,000 after purchasing an additional 467,553 shares during the period. Primecap Management Co. CA boosted its position in shares of Altair Engineering by 21.3% in the 1st quarter. Primecap Management Co. CA now owns 1,150,000 shares of the software’s stock valued at $42,331,000 after purchasing an additional 201,800 shares during the period. Wasatch Advisors Inc. boosted its position in shares of Altair Engineering by 14.4% in the 1st quarter. Wasatch Advisors Inc. now owns 944,091 shares of the software’s stock valued at $34,752,000 after purchasing an additional 118,943 shares during the period. Finally, Polar Capital LLP acquired a new position in shares of Altair Engineering in the 4th quarter valued at $20,295,000. 38.47% of the stock is currently owned by hedge funds and other institutional investors.

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.

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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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