SG Americas Securities LLC Invests $2.47 Million in Altair Engineering Inc (ALTR)
SG Americas Securities LLC acquired a new position in shares of Altair Engineering Inc (NASDAQ:ALTR) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 89,692 shares of the software’s stock, valued at approximately $2,474,000. SG Americas Securities LLC owned 0.13% of Altair Engineering at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. Legal & General Group Plc raised its holdings in Altair Engineering by 22.9% in the third quarter. Legal & General Group Plc now owns 4,562 shares of the software’s stock valued at $198,000 after buying an additional 850 shares during the period. Zions Bancorporation purchased a new position in Altair Engineering in the third quarter valued at approximately $227,000. Invictus RG purchased a new position in Altair Engineering in the third quarter valued at approximately $293,000. Oppenheimer Asset Management Inc. purchased a new position in Altair Engineering in the fourth quarter valued at approximately $199,000. Finally, California Public Employees Retirement System purchased a new position in Altair Engineering in the second quarter valued at approximately $258,000. Institutional investors and hedge funds own 38.16% of the company’s stock.
Several analysts have issued reports on the stock. Zacks Investment Research raised shares of Altair Engineering from a “hold” rating to a “buy” rating and set a $32.00 price objective for the company in a research report on Wednesday, January 9th. ValuEngine raised shares of Altair Engineering from a “hold” rating to a “buy” rating in a research report on Saturday, December 1st. Finally, Canaccord Genuity reissued a “hold” rating and set a $36.00 price target on shares of Altair Engineering in a research report on Tuesday, November 13th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $38.29.
Altair Engineering (NASDAQ:ALTR) last released its quarterly earnings data on Thursday, November 8th. The software reported $0.06 EPS for the quarter, hitting analysts’ consensus estimates of $0.06. The firm had revenue of $93.87 million during the quarter, compared to the consensus estimate of $95.48 million. Altair Engineering had a negative net margin of 12.83% and a positive return on equity of 13.76%. Research analysts expect that Altair Engineering Inc will post 0.32 EPS for the current fiscal year.
TRADEMARK VIOLATION NOTICE: This piece was reported by The Cerbat Gem and is the property of of The Cerbat Gem. If you are accessing this piece on another site, it was illegally stolen and reposted in violation of U.S. and international copyright law. The legal version of this piece can be read at https://www.thecerbatgem.com/2019/02/11/sg-americas-securities-llc-invests-2-47-million-in-altair-engineering-inc-altr.html.
Altair Engineering Profile
Altair Engineering Inc, together with its subsidiaries, provides enterprise-class engineering software 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, as well as provides data analytics and true-to-life visualization and rendering.
Receive News & Ratings for Altair Engineering Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Altair Engineering and related companies with MarketBeat.com's FREE daily email newsletter.