Altair Engineering Inc (NASDAQ:ALTR) CFO Sells $159,080.00 in Stock

Altair Engineering Inc (NASDAQ:ALTR) CFO Howard N. Morof sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 17th. The stock was sold at an average price of $39.77, for a total transaction of $159,080.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Howard N. Morof also recently made the following trade(s):

  • On Thursday, August 13th, Howard N. Morof sold 4,000 shares of Altair Engineering stock. The stock was sold at an average price of $40.24, for a total transaction of $160,960.00.
  • On Thursday, July 16th, Howard N. Morof sold 4,000 shares of Altair Engineering stock. The stock was sold at an average price of $37.16, for a total transaction of $148,640.00.

Shares of NASDAQ:ALTR opened at $40.11 on Thursday. The company has a 50-day simple moving average of $40.73 and a 200-day simple moving average of $35.64. Altair Engineering Inc has a one year low of $23.04 and a one year high of $44.34. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 0.52.

Altair Engineering (NASDAQ:ALTR) last announced its earnings results on Thursday, August 6th. The software reported ($0.02) EPS for the quarter, meeting analysts’ consensus estimates of ($0.02). Altair Engineering had a negative net margin of 4.76% and a negative return on equity of 0.33%. The business had revenue of $98.50 million during the quarter, compared to analysts’ expectations of $94.13 million. During the same period in the prior year, the company earned $0.06 earnings per share. The business’s revenue was down 7.8% compared to the same quarter last year. Sell-side analysts predict that Altair Engineering Inc will post -0.24 earnings per share for the current fiscal year.

Several large investors have recently made changes to their positions in ALTR. Matrix Capital Management Company LP raised its holdings in shares of Altair Engineering by 72.9% in the first quarter. Matrix Capital Management Company LP now owns 4,136,725 shares of the software’s stock valued at $109,623,000 after buying an additional 1,744,000 shares during the last quarter. Janus Henderson Group PLC increased its stake in shares of Altair Engineering by 64.0% during the first quarter. Janus Henderson Group PLC now owns 2,489,635 shares of the software’s stock worth $65,975,000 after acquiring an additional 971,153 shares during the period. Vanguard Group Inc. increased its stake in shares of Altair Engineering by 8.2% during the second quarter. Vanguard Group Inc. now owns 3,861,824 shares of the software’s stock worth $153,508,000 after acquiring an additional 292,364 shares during the period. Impax Asset Management Group plc increased its stake in shares of Altair Engineering by 17.1% during the first quarter. Impax Asset Management Group plc now owns 1,822,273 shares of the software’s stock worth $47,910,000 after acquiring an additional 266,195 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its stake in shares of Altair Engineering by 20.6% during the first quarter. Massachusetts Financial Services Co. MA now owns 656,946 shares of the software’s stock worth $17,409,000 after acquiring an additional 112,284 shares during the period. 53.20% of the stock is owned by institutional investors and hedge funds.

ALTR has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. upgraded shares of Altair Engineering from an “underweight” rating to a “neutral” rating and raised their price target for the stock from $40.00 to $46.00 in a report on Friday, August 7th. Zacks Investment Research downgraded shares of Altair Engineering from a “hold” rating to a “sell” rating in a research note on Thursday, August 13th. Guggenheim upgraded shares of Altair Engineering from a “sell” rating to a “neutral” rating in a research note on Thursday, September 10th. Benchmark began coverage on shares of Altair Engineering in a research report on Friday, June 5th. They set a “hold” rating for the company. Finally, Royal Bank of Canada reaffirmed a “hold” rating on shares of Altair Engineering in a research report on Thursday, September 10th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $37.75.

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 multi-disciplinary computer aided engineering software optimizes design performance across various disciplines, including structures, motion, fluids, thermal management, electromagnetics, system modeling and embedded systems.

Further Reading: What is a back-end load?

Insider Buying and Selling by Quarter for Altair Engineering (NASDAQ:ALTR)

Receive News & Ratings for Altair Engineering Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Altair Engineering and related companies with MarketBeat.com's FREE daily email newsletter.