Harvest Fund Management Co. Ltd Raises Position in Altair Engineering Inc. (NASDAQ:ALTR)

Harvest Fund Management Co. Ltd raised its stake in Altair Engineering Inc. (NASDAQ:ALTR) by 495.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,079 shares of the software’s stock after purchasing an additional 5,891 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Altair Engineering were worth $743,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of ALTR. KBC Group NV raised its stake in shares of Altair Engineering by 17.9% in the third quarter. KBC Group NV now owns 1,640 shares of the software’s stock worth $157,000 after purchasing an additional 249 shares during the last quarter. Thrivent Financial for Lutherans grew its holdings in shares of Altair Engineering by 1.5% in the third quarter. Thrivent Financial for Lutherans now owns 13,961 shares of the software’s stock valued at $1,333,000 after acquiring an additional 201 shares in the last quarter. Quest Partners LLC bought a new position in shares of Altair Engineering in the third quarter valued at approximately $617,000. King Luther Capital Management Corp grew its holdings in shares of Altair Engineering by 5.6% in the third quarter. King Luther Capital Management Corp now owns 174,733 shares of the software’s stock valued at $16,689,000 after acquiring an additional 9,310 shares in the last quarter. Finally, Intech Investment Management LLC bought a new position in shares of Altair Engineering in the third quarter valued at approximately $1,084,000. 63.38% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Altair Engineering

In other news, CRO Nelson Dias sold 1,671 shares of the firm’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $111.30, for a total value of $185,982.30. Following the completion of the transaction, the executive now directly owns 55,411 shares of the company’s stock, valued at $6,167,244.30. This trade represents a 2.93 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CMO Amy Messano sold 416 shares of the firm’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $111.30, for a total value of $46,300.80. Following the completion of the transaction, the chief marketing officer now directly owns 22,980 shares of the company’s stock, valued at $2,557,674. The trade was a 1.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 13,220 shares of company stock valued at $1,470,974 over the last three months. Company insiders own 21.75% of the company’s stock.

Altair Engineering Trading Down 0.1 %

Shares of NASDAQ ALTR opened at $111.54 on Friday. The stock has a fifty day simple moving average of $110.88 and a two-hundred day simple moving average of $104.35. Altair Engineering Inc. has a 1-year low of $75.71 and a 1-year high of $113.12. The firm has a market cap of $9.57 billion, a price-to-earnings ratio of 656.12, a price-to-earnings-growth ratio of 10.75 and a beta of 1.45.

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Altair Engineering in a report on Friday, February 21st. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $113.00 target price on shares of Altair Engineering in a report on Monday, February 24th. One research analyst has rated the stock with a sell rating and seven have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $100.83.

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.