Altair Engineering Inc. (NASDAQ:ALTR – Get Free Report) Director Teresa A. Harris sold 620 shares of the stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $82.89, for a total transaction of $51,391.80. Following the completion of the transaction, the director now directly owns 18,895 shares in the company, valued at $1,566,206.55. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.
Altair Engineering Stock Performance
Shares of Altair Engineering stock traded down $1.26 on Wednesday, reaching $84.83. 294,648 shares of the stock were exchanged, compared to its average volume of 411,822. The company has a current ratio of 2.46, a quick ratio of 2.46 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $7.00 billion, a PE ratio of 956.56, a PEG ratio of 10.86 and a beta of 1.42. Altair Engineering Inc. has a 1-year low of $57.59 and a 1-year high of $92.92. The business has a fifty day moving average price of $83.20 and a two-hundred day moving average price of $79.80.
Altair Engineering (NASDAQ:ALTR – Get Free Report) last issued its earnings results on Thursday, May 2nd. The software reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.06. Altair Engineering had a return on equity of 5.60% and a net margin of 1.55%. The business had revenue of $172.91 million during the quarter, compared to the consensus estimate of $169.29 million. During the same period in the prior year, the business posted $0.13 EPS. The company’s revenue for the quarter was up 4.1% on a year-over-year basis. As a group, research analysts anticipate that Altair Engineering Inc. will post 0.63 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
Hedge Funds Weigh In On Altair Engineering
Institutional investors and hedge funds have recently made changes to their positions in the stock. Matrix Capital Management Company LP raised its holdings in Altair Engineering by 8.3% during the fourth quarter. Matrix Capital Management Company LP now owns 12,233,174 shares of the software’s stock worth $1,029,422,000 after purchasing an additional 932,717 shares during the last quarter. Bain Capital Public Equity Management II LLC purchased a new stake in shares of Altair Engineering in the 4th quarter worth about $57,728,000. Wellington Management Group LLP acquired a new stake in Altair Engineering in the 3rd quarter valued at about $37,487,000. Victory Capital Management Inc. increased its holdings in Altair Engineering by 95.7% during the 3rd quarter. Victory Capital Management Inc. now owns 392,414 shares of the software’s stock valued at $24,549,000 after acquiring an additional 191,866 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of Altair Engineering by 3.2% in the third quarter. Vanguard Group Inc. now owns 5,727,942 shares of the software’s stock valued at $358,340,000 after purchasing an additional 179,838 shares in the last quarter. 63.38% of the stock is owned by institutional investors and hedge funds.
About Altair Engineering
Altair Engineering Inc, together with its subsidiaries, provides software and cloud solutions in the areas of simulation and design, high-performance computing, data analytics, and artificial intelligence in the United States and internationally. It operates in two segments, Software and Client Engineering Services.
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