Marco Investment Management LLC Invests $248,000 in Altair Engineering Inc. (NASDAQ:ALTR)

Marco Investment Management LLC purchased a new position in Altair Engineering Inc. (NASDAQ:ALTR) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 2,945 shares of the software’s stock, valued at approximately $248,000.

Other hedge funds have also recently made changes to their positions in the company. SG Americas Securities LLC lifted its position in Altair Engineering by 31.3% in the 3rd quarter. SG Americas Securities LLC now owns 2,171 shares of the software’s stock valued at $136,000 after acquiring an additional 518 shares in the last quarter. Harbor Capital Advisors Inc. lifted its position in Altair Engineering by 14.5% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 11,079 shares of the software’s stock valued at $693,000 after acquiring an additional 1,406 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Altair Engineering by 6.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 269,932 shares of the software’s stock valued at $16,887,000 after acquiring an additional 16,768 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Altair Engineering by 9.1% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,438 shares of the software’s stock valued at $653,000 after acquiring an additional 870 shares in the last quarter. Finally, Strs Ohio lifted its position in Altair Engineering by 95.7% in the 3rd quarter. Strs Ohio now owns 9,000 shares of the software’s stock valued at $563,000 after acquiring an additional 4,400 shares in the last quarter. 63.38% of the stock is owned by institutional investors.

Insider Transactions at Altair Engineering

In other Altair Engineering news, major shareholder George J. Christ sold 83,336 shares of the stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $85.99, for a total value of $7,166,062.64. Following the completion of the sale, the insider now owns 200,000 shares in the company, valued at approximately $17,198,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Altair Engineering news, CEO James Ralph Scapa sold 10,000 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $91.07, for a total value of $910,700.00. Following the completion of the sale, the chief executive officer now owns 103,591 shares in the company, valued at approximately $9,434,032.37. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder George J. Christ sold 83,336 shares of the stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $85.99, for a total value of $7,166,062.64. Following the completion of the sale, the insider now owns 200,000 shares of the company’s stock, valued at approximately $17,198,000. The disclosure for this sale can be found here. Insiders sold 161,830 shares of company stock worth $13,876,320 in the last three months. Corporate insiders own 21.75% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. JPMorgan Chase & Co. upped their price objective on Altair Engineering from $86.00 to $95.00 and gave the company an “overweight” rating in a research report on Tuesday, March 26th. Royal Bank of Canada reissued a “sector perform” rating and set a $90.00 price target on shares of Altair Engineering in a report on Thursday, March 21st. Oppenheimer increased their price target on Altair Engineering from $95.00 to $100.00 and gave the company an “outperform” rating in a report on Friday, February 23rd. Rosenblatt Securities reissued a “neutral” rating and set a $88.00 price target on shares of Altair Engineering in a report on Monday. Finally, Needham & Company LLC reissued a “buy” rating and set a $100.00 price target on shares of Altair Engineering in a report on Monday, March 25th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $90.00.

Altair Engineering Trading Up 0.5 %

NASDAQ:ALTR opened at $83.58 on Monday. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.16 and a quick ratio of 2.16. The firm has a market capitalization of $6.89 billion, a price-to-earnings ratio of -642.92, a price-to-earnings-growth ratio of 11.14 and a beta of 1.42. Altair Engineering Inc. has a one year low of $57.59 and a one year high of $92.92. The business has a fifty day moving average price of $83.87 and a 200-day moving average price of $78.91.

Altair Engineering (NASDAQ:ALTR) last posted its quarterly earnings data on Thursday, February 22nd. The software reported $0.29 EPS for the quarter, topping the consensus estimate of $0.22 by $0.07. The firm had revenue of $171.50 million during the quarter, compared to analyst estimates of $172.48 million. Altair Engineering had a positive return on equity of 3.77% and a negative net margin of 1.46%. Sell-side analysts forecast that Altair Engineering Inc. will post 0.63 EPS for the current year.

Altair Engineering Profile

Altair Engineering Inc, together with its subsidiaries, provides software and cloud solutions in the areas of simulation and design, high-performance computing, data analytics, and artificial intelligence in the United States and internationally. It operates in two segments, Software and Client Engineering Services.