Insider Selling: Altair Engineering Inc (ALTR) Insider Sells 2,500 Shares of Stock
Altair Engineering Inc (NASDAQ:ALTR) insider Martin E. Nichols sold 2,500 shares of the business’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $34.76, for a total transaction of $86,900.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
Shares of ALTR stock traded down $0.41 during mid-day trading on Friday, hitting $36.00. The company had a trading volume of 202,147 shares, compared to its average volume of 187,127. The company has a market capitalization of $2.59 billion, a PE ratio of 97.30 and a beta of 1.60. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.06 and a current ratio of 1.09. Altair Engineering Inc has a 52-week low of $25.28 and a 52-week high of $43.99.
Altair Engineering (NASDAQ:ALTR) last released its quarterly earnings results on Thursday, May 9th. The software reported $0.26 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.22 by $0.04. The company had revenue of $127.86 million for the quarter, compared to the consensus estimate of $125.82 million. Altair Engineering had a net margin of 2.62% and a return on equity of 11.56%. Altair Engineering’s revenue was up 12.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.35 earnings per share. On average, research analysts predict that Altair Engineering Inc will post 0.55 EPS for the current fiscal year.
A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in Altair Engineering by 11.4% during the third quarter. Vanguard Group Inc. now owns 2,733,081 shares of the software’s stock valued at $118,752,000 after purchasing an additional 280,056 shares in the last quarter. Neuberger Berman Group LLC raised its stake in Altair Engineering by 20.9% during the first 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 in the last quarter. Primecap Management Co. CA raised its stake in Altair Engineering by 21.3% during the first 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 in the last quarter. Wasatch Advisors Inc. raised its stake in Altair Engineering by 14.4% during the first 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 in the last quarter. Finally, Polar Capital LLP purchased a new stake in Altair Engineering during the fourth quarter valued at $20,295,000. 38.47% of the stock is currently owned by institutional investors.
ILLEGAL ACTIVITY NOTICE: “Insider Selling: Altair Engineering Inc (ALTR) Insider Sells 2,500 Shares of Stock” was first reported by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are viewing this piece on another site, it was copied illegally and reposted in violation of U.S. & international trademark and copyright laws. The legal version of this piece can be viewed at https://www.thecerbatgem.com/2019/05/18/insider-selling-altair-engineering-inc-altr-insider-sells-2500-shares-of-stock.html.
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.
Read More: What is a put option?
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.