Brett R. Chouinard Sells 3,000 Shares of Altair Engineering Inc (NASDAQ:ALTR) Stock

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Altair Engineering Inc (NASDAQ:ALTR) insider Brett R. Chouinard sold 3,000 shares of Altair Engineering stock in a transaction that occurred on Thursday, September 24th. The stock was sold at an average price of $39.91, for a total value of $119,730.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Brett R. Chouinard also recently made the following trade(s):

  • On Thursday, September 10th, Brett R. Chouinard sold 3,000 shares of Altair Engineering stock. The stock was sold at an average price of $41.05, for a total value of $123,150.00.
  • On Thursday, August 20th, Brett R. Chouinard sold 3,000 shares of Altair Engineering stock. The stock was sold at an average price of $41.59, for a total value of $124,770.00.
  • On Thursday, August 13th, Brett R. Chouinard sold 3,000 shares of Altair Engineering stock. The shares were sold at an average price of $40.47, for a total value of $121,410.00.
  • On Thursday, July 30th, Brett R. Chouinard sold 3,000 shares of Altair Engineering stock. The shares were sold at an average price of $39.83, for a total value of $119,490.00.

Shares of NASDAQ ALTR opened at $41.43 on Friday. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 0.52. The business has a fifty day simple moving average of $40.68 and a two-hundred day simple moving average of $35.73. The firm has a market cap of $3.03 billion, a PE ratio of -138.10 and a beta of 1.49. Altair Engineering Inc has a twelve month low of $23.04 and a twelve month high of $44.34.

Altair Engineering (NASDAQ:ALTR) last issued its earnings results on Thursday, August 6th. The software reported ($0.02) earnings per share for the quarter, meeting the Zacks’ consensus estimate of ($0.02). The business had revenue of $98.50 million during the quarter, compared to analyst estimates of $94.13 million. Altair Engineering had a negative return on equity of 0.33% and a negative net margin of 4.76%. Altair Engineering’s revenue was down 7.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.06 EPS. On average, research analysts expect that Altair Engineering Inc will post -0.24 earnings per share for the current year.

A number of equities analysts recently issued reports on ALTR shares. Needham & Company LLC restated a “buy” rating and set a $45.00 price objective on shares of Altair Engineering in a report on Friday, August 7th. Guggenheim upgraded Altair Engineering from a “sell” rating to a “neutral” rating in a report on Thursday, September 10th. Benchmark started coverage on Altair Engineering in a report on Friday, June 5th. They set a “hold” rating for the company. Royal Bank of Canada restated a “hold” rating on shares of Altair Engineering in a report on Thursday, September 10th. Finally, JPMorgan Chase & Co. upgraded Altair Engineering from an “underweight” rating to a “neutral” rating and boosted their price objective for the company from $40.00 to $46.00 in a report on Friday, August 7th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $37.75.

Hedge funds and other institutional investors have recently modified their holdings of the business. Advisor Group Holdings Inc. bought a new position in shares of Altair Engineering in the 1st quarter worth $29,000. Captrust Financial Advisors bought a new position in shares of Altair Engineering in the 2nd quarter worth $64,000. Russell Investments Group Ltd. bought a new position in shares of Altair Engineering in the 2nd quarter worth $98,000. Bank of Montreal Can bought a new position in shares of Altair Engineering in the 2nd quarter worth $130,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Altair Engineering by 23.9% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,587 shares of the software’s stock worth $95,000 after acquiring an additional 693 shares in the last quarter. 53.20% of the stock is owned by institutional investors and hedge funds.

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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