New Age Alpha Advisors LLC Purchases New Shares in Altair Engineering Inc. (NASDAQ:ALTR)

New Age Alpha Advisors LLC acquired a new position in Altair Engineering Inc. (NASDAQ:ALTR) during the fourth quarter, according to the company in its most recent filing with the SEC. The fund acquired 13,041 shares of the software’s stock, valued at approximately $1,423,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its stake in shares of Altair Engineering by 14.6% in the fourth quarter. GAMMA Investing LLC now owns 729 shares of the software’s stock worth $80,000 after acquiring an additional 93 shares in the last quarter. Louisiana State Employees Retirement System increased its holdings in Altair Engineering by 0.6% during the 4th quarter. Louisiana State Employees Retirement System now owns 16,600 shares of the software’s stock worth $1,811,000 after purchasing an additional 100 shares during the last quarter. New York State Teachers Retirement System raised its position in shares of Altair Engineering by 1.2% in the 4th quarter. New York State Teachers Retirement System now owns 8,600 shares of the software’s stock valued at $938,000 after purchasing an additional 100 shares in the last quarter. State of Michigan Retirement System boosted its stake in shares of Altair Engineering by 0.7% during the 4th quarter. State of Michigan Retirement System now owns 14,200 shares of the software’s stock valued at $1,549,000 after buying an additional 100 shares during the last quarter. Finally, Thrivent Financial for Lutherans grew its position in shares of Altair Engineering by 0.7% during the fourth quarter. Thrivent Financial for Lutherans now owns 14,065 shares of the software’s stock worth $1,535,000 after buying an additional 104 shares in the last quarter. 63.38% of the stock is owned by hedge funds and other institutional investors.

Altair Engineering Price Performance

Shares of NASDAQ:ALTR opened at $111.85 on Monday. The company has a market cap of $9.60 billion, a PE ratio of 657.94, a P/E/G ratio of 10.75 and a beta of 1.45. Altair Engineering Inc. has a fifty-two week low of $75.71 and a fifty-two week high of $113.12. The firm has a 50-day simple moving average of $111.09 and a 200 day simple moving average of $105.67.

Altair Engineering (NASDAQ:ALTR) last released its quarterly earnings results on Thursday, February 20th. The software reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.15). Altair Engineering had a net margin of 2.13% and a return on equity of 8.08%. The business had revenue of $192.63 million for the quarter, compared to the consensus estimate of $182.98 million. As a group, research analysts forecast that Altair Engineering Inc. will post 0.87 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have commented on ALTR. Rosenblatt Securities reiterated a “neutral” rating and set a $113.00 price objective on shares of Altair Engineering in a research note on Monday, February 24th. Needham & Company LLC reiterated a “hold” rating on shares of Altair Engineering in a research note on Friday, February 21st. One analyst has rated the stock with a sell rating and seven have issued a hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $100.83.

Insider Activity at Altair Engineering

In related news, CMO Amy Messano sold 235 shares of the firm’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $111.53, for a total transaction of $26,209.55. Following the transaction, the chief marketing officer now owns 23,651 shares in the company, valued at $2,637,796.03. This trade represents a 0.98 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Matthew Charles Brown sold 3,811 shares of the company’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $111.53, for a total value of $425,040.83. Following the completion of the sale, the chief financial officer now owns 69,394 shares of the company’s stock, valued at approximately $7,739,512.82. This trade represents a 5.21 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 12,172 shares of company stock worth $1,356,847 over the last ninety days. 21.75% of the stock is currently owned by corporate insiders.

Altair Engineering 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.