Altair Engineering Inc. (NASDAQ:ALTR) Major Shareholder Sells $3,002,500.00 in Stock
Altair Engineering Inc. (NASDAQ:ALTR) major shareholder George J. Christ sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, January 11th. The stock was sold at an average price of $60.05, for a total transaction of $3,002,500.00. Following the transaction, the insider now directly owns 50,000 shares of the company’s stock, valued at approximately $3,002,500. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.
ALTR opened at $60.20 on Thursday. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 0.60. Altair Engineering Inc. has a 52-week low of $23.04 and a 52-week high of $63.14. The company has a 50 day moving average of $57.05 and a two-hundred day moving average of $46.18. The company has a market cap of $4.43 billion, a P/E ratio of -301.00 and a beta of 1.53.
Altair Engineering (NASDAQ:ALTR) last released its quarterly earnings data on Thursday, November 5th. The software reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.20) by $0.14. The company had revenue of $106.46 million during the quarter, compared to the consensus estimate of $97.96 million. Altair Engineering had a negative net margin of 3.08% and a positive return on equity of 1.10%. Research analysts anticipate that Altair Engineering Inc. will post -0.12 earnings per share for the current year.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Nisa Investment Advisors LLC acquired a new stake in Altair Engineering during the 3rd quarter valued at $50,000. Captrust Financial Advisors acquired a new stake in Altair Engineering during the 2nd quarter valued at $64,000. Bank of Montreal Can acquired a new stake in Altair Engineering during the 2nd quarter valued at $130,000. US Bancorp DE grew its holdings in Altair Engineering by 6.5% during the 3rd quarter. US Bancorp DE now owns 4,767 shares of the software’s stock valued at $200,000 after purchasing an additional 290 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado acquired a new stake in Altair Engineering during the 3rd quarter valued at $235,000. 54.44% 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 software optimizes design performance across various disciplines, including structures, motion, fluids, thermal management, electromagnetics, system modeling, and embedded systems.
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