Altair Engineering Inc (ALTR) President Brett R. Chouinard Sells 7,998 Shares

Altair Engineering Inc (NASDAQ:ALTR) President Brett R. Chouinard sold 7,998 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $34.13, for a total value of $272,971.74. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

NASDAQ:ALTR traded up $1.59 during midday trading on Wednesday, hitting $35.95. 180,824 shares of the stock were exchanged, compared to its average volume of 209,099. Altair Engineering Inc has a one year low of $25.28 and a one year high of $43.99. The stock has a market cap of $2.52 billion, a price-to-earnings ratio of 97.16 and a beta of 1.60. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.09 and a quick ratio of 1.06.

Altair Engineering (NASDAQ:ALTR) last announced its earnings results on Thursday, May 9th. The software reported $0.26 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.22 by $0.04. The firm had revenue of $127.86 million for the quarter, compared to analysts’ expectations of $125.82 million. Altair Engineering had a return on equity of 11.56% and a net margin of 2.62%. The firm’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.35 earnings per share. On average, sell-side analysts expect that Altair Engineering Inc will post 0.45 EPS for the current year.



ALTR has been the topic of several recent analyst reports. Needham & Company LLC boosted their target price on Altair Engineering from $40.00 to $42.00 and gave the stock a “buy” rating in a report on Thursday, March 14th. ValuEngine raised Altair Engineering from a “hold” rating to a “buy” rating in a report on Monday, February 4th. Zacks Investment Research cut Altair Engineering from a “buy” rating to a “hold” rating in a report on Monday, March 18th. Finally, Guggenheim initiated coverage on Altair Engineering in a report on Tuesday, March 19th. They set a “neutral” rating and a $37.70 target price on the stock. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Altair Engineering presently has an average rating of “Hold” and an average price target of $38.67.

A number of institutional investors have recently bought and sold shares of the business. Goldman Sachs Group Inc. grew its position in Altair Engineering by 45.5% in the first quarter. Goldman Sachs Group Inc. now owns 141,241 shares of the software’s stock worth $5,199,000 after buying an additional 44,185 shares during the last quarter. ExodusPoint Capital Management LP acquired a new position in Altair Engineering in the first quarter worth approximately $311,000. Marshall Wace LLP grew its position in Altair Engineering by 169.6% in the first quarter. Marshall Wace LLP now owns 17,096 shares of the software’s stock worth $629,000 after buying an additional 10,754 shares during the last quarter. Geode Capital Management LLC grew its position in Altair Engineering by 11.4% in the first quarter. Geode Capital Management LLC now owns 345,909 shares of the software’s stock worth $12,732,000 after buying an additional 35,306 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Altair Engineering by 130.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 333,614 shares of the software’s stock worth $12,281,000 after buying an additional 188,891 shares during the last quarter. Hedge funds and other institutional investors own 38.47% of the company’s stock.

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About Altair Engineering

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.

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