Altair Engineering’s (ALTR) “Hold” Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC restated their hold rating on shares of Altair Engineering (NASDAQ:ALTR) in a research note released on Thursday, Benzinga reports. The brokerage currently has a $100.00 target price on the software’s stock.

Other research analysts have also recently issued reports about the stock. The Goldman Sachs Group cut shares of Altair Engineering from a “neutral” rating to a “sell” rating and dropped their price objective for the stock from $85.00 to $71.00 in a research note on Friday, August 2nd. William Blair reissued a “market perform” rating on shares of Altair Engineering in a research note on Thursday. JPMorgan Chase & Co. downgraded shares of Altair Engineering from an “overweight” rating to a “neutral” rating and set a $95.00 target price on the stock. in a research note on Monday, July 15th. Rosenblatt Securities raised their target price on shares of Altair Engineering from $88.00 to $113.00 and gave the company a “neutral” rating in a research note on Thursday. Finally, Loop Capital reissued a “hold” rating and issued a $113.00 target price on shares of Altair Engineering in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $100.71.

Altair Engineering Stock Performance

NASDAQ ALTR traded up $0.14 during trading hours on Thursday, hitting $104.13. 316,376 shares of the stock were exchanged, compared to its average volume of 508,298. The company has a market cap of $8.84 billion, a price-to-earnings ratio of 273.67, a price-to-earnings-growth ratio of 13.87 and a beta of 1.45. Altair Engineering has a 12-month low of $57.59 and a 12-month high of $113.12. The stock has a 50-day moving average of $94.03 and a 200 day moving average of $91.38. The company has a quick ratio of 3.14, a current ratio of 3.14 and a debt-to-equity ratio of 0.29.

Altair Engineering (NASDAQ:ALTR) last posted its quarterly earnings results on Wednesday, October 30th. The software reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.07. The firm had revenue of $151.45 million during the quarter, compared to analysts’ expectations of $146.55 million. Altair Engineering had a net margin of 5.10% and a return on equity of 7.70%. As a group, equities research analysts forecast that Altair Engineering will post 0.65 earnings per share for the current year.

Insider Transactions at Altair Engineering

In related news, major shareholder Christ Revocable Trust sold 50,048 shares of the business’s stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $95.07, for a total value of $4,758,063.36. Following the sale, the insider now directly owns 149,952 shares in the company, valued at $14,255,936.64. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, major shareholder George J. Christ sold 97,824 shares of the business’s stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $95.23, for a total value of $9,315,779.52. Following the sale, the insider now directly owns 302,176 shares in the company, valued at $28,776,220.48. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Christ Revocable Trust sold 50,048 shares of the business’s stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $95.07, for a total transaction of $4,758,063.36. Following the sale, the insider now owns 149,952 shares in the company, valued at $14,255,936.64. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 360,360 shares of company stock valued at $35,476,660. Company insiders own 21.75% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of ALTR. GAMMA Investing LLC boosted its holdings in Altair Engineering by 52.2% during the third quarter. GAMMA Investing LLC now owns 636 shares of the software’s stock valued at $61,000 after acquiring an additional 218 shares during the period. Russell Investments Group Ltd. boosted its holdings in Altair Engineering by 5,564.8% during the first quarter. Russell Investments Group Ltd. now owns 31,043 shares of the software’s stock valued at $2,676,000 after acquiring an additional 30,495 shares during the period. Moody Aldrich Partners LLC boosted its holdings in Altair Engineering by 15.2% during the third quarter. Moody Aldrich Partners LLC now owns 75,233 shares of the software’s stock valued at $7,186,000 after acquiring an additional 9,907 shares during the period. Linden Thomas Advisory Services LLC bought a new stake in Altair Engineering during the second quarter valued at about $629,000. Finally, Jane Street Group LLC boosted its holdings in Altair Engineering by 960.2% during the first quarter. Jane Street Group LLC now owns 303,672 shares of the software’s stock valued at $26,161,000 after acquiring an additional 275,030 shares during the period. Institutional investors and hedge funds own 63.38% of the company’s stock.

Altair Engineering Company Profile

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.