Martin E. Nichols Sells 2,500 Shares of Altair Engineering Inc (NASDAQ:ALTR) Stock

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Altair Engineering Inc (NASDAQ:ALTR) insider Martin E. Nichols sold 2,500 shares of the stock in a transaction on Monday, September 16th. The shares were sold at an average price of $33.79, for a total value of $84,475.00.

Shares of NASDAQ:ALTR traded up $0.43 during midday trading on Tuesday, hitting $34.64. 24,412 shares of the stock were exchanged, compared to its average volume of 412,107. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.58 and a current ratio of 2.58. Altair Engineering Inc has a 52-week low of $25.28 and a 52-week high of $43.99. The business’s fifty day simple moving average is $35.57 and its two-hundred day simple moving average is $37.45. The company has a market capitalization of $2.45 billion, a PE ratio of 93.62 and a beta of 1.51.

Altair Engineering (NASDAQ:ALTR) last announced its quarterly earnings data on Thursday, August 8th. The software reported $0.06 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.02. Altair Engineering had a return on equity of 9.71% and a net margin of 1.48%. The business had revenue of $106.80 million during the quarter, compared to analyst estimates of $108.69 million. During the same period last year, the company earned $0.05 earnings per share. Altair Engineering’s quarterly revenue was up 13.7% compared to the same quarter last year. As a group, equities analysts anticipate that Altair Engineering Inc will post 0.49 EPS for the current year.

Several large investors have recently made changes to their positions in ALTR. BNP Paribas Arbitrage SA raised its holdings in shares of Altair Engineering by 1,026.5% during the first quarter. BNP Paribas Arbitrage SA now owns 5,689 shares of the software’s stock worth $209,000 after acquiring an additional 5,184 shares in the last quarter. New York State Common Retirement Fund raised its holdings in shares of Altair Engineering by 142.3% during the first quarter. New York State Common Retirement Fund now owns 71,961 shares of the software’s stock worth $2,649,000 after acquiring an additional 42,261 shares in the last quarter. Wasatch Advisors Inc. raised its holdings in shares of Altair Engineering by 14.4% during the first quarter. Wasatch Advisors Inc. now owns 944,091 shares of the software’s stock worth $34,752,000 after acquiring an additional 118,943 shares in the last quarter. Royce & Associates LP raised its holdings in shares of Altair Engineering by 22.6% during the first quarter. Royce & Associates LP now owns 83,154 shares of the software’s stock worth $3,061,000 after acquiring an additional 15,338 shares in the last quarter. Finally, Well Done LLC raised its holdings in shares of Altair Engineering by 0.7% during the first quarter. Well Done LLC now owns 52,106 shares of the software’s stock worth $1,918,000 after acquiring an additional 355 shares in the last quarter. Institutional investors and hedge funds own 45.62% of the company’s stock.

ALTR has been the subject of a number of research analyst reports. JPMorgan Chase & Co. restated an “underweight” rating on shares of Altair Engineering in a report on Wednesday, September 11th. Needham & Company LLC restated a “buy” rating and issued a $40.00 target price (down previously from $42.00) on shares of Altair Engineering in a report on Monday, August 12th. Deutsche Bank lowered Altair Engineering from a “buy” rating to a “hold” rating and set a $36.00 target price for the company. in a report on Friday, August 9th. Finally, Zacks Investment Research lowered Altair Engineering from a “hold” rating to a “sell” rating in a report on Wednesday, September 11th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. Altair Engineering has a consensus rating of “Hold” and an average price target of $39.14.

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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