Slotnik Capital LLC Purchases Shares of 177,629 Altair Engineering Inc. (NASDAQ:ALTR)

Slotnik Capital LLC acquired a new stake in Altair Engineering Inc. (NASDAQ:ALTR) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 177,629 shares of the software’s stock, valued at approximately $19,381,000. Altair Engineering accounts for approximately 8.8% of Slotnik Capital LLC’s portfolio, making the stock its 5th biggest holding. Slotnik Capital LLC owned approximately 0.21% of Altair Engineering at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. NBT Bank N A NY boosted its stake in Altair Engineering by 76.4% in the 4th quarter. NBT Bank N A NY now owns 247 shares of the software’s stock worth $27,000 after purchasing an additional 107 shares in the last quarter. UMB Bank n.a. lifted its stake in shares of Altair Engineering by 77.0% in the fourth quarter. UMB Bank n.a. now owns 285 shares of the software’s stock worth $31,000 after buying an additional 124 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Altair Engineering by 14.6% during the fourth quarter. GAMMA Investing LLC now owns 729 shares of the software’s stock valued at $80,000 after buying an additional 93 shares during the last quarter. Blue Trust Inc. increased its position in shares of Altair Engineering by 185.5% during the fourth quarter. Blue Trust Inc. now owns 825 shares of the software’s stock valued at $90,000 after acquiring an additional 536 shares in the last quarter. Finally, IFP Advisors Inc purchased a new position in Altair Engineering in the 4th quarter worth approximately $185,000. 63.38% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on ALTR shares. Rosenblatt Securities restated a “neutral” rating and set a $113.00 target price on shares of Altair Engineering in a research note on Monday, February 24th. Needham & Company LLC restated a “hold” rating on shares of Altair Engineering in a report on Friday, February 21st. One analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $100.83.

Insider Activity

In other Altair Engineering news, Director Teresa A. Harris sold 2,700 shares of the company’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $111.61, for a total value of $301,347.00. Following the transaction, the director now owns 18,542 shares of the company’s stock, valued at $2,069,472.62. This represents a 12.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Matthew Charles Brown sold 3,811 shares of Altair Engineering stock in a transaction dated 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 transaction, the chief financial officer now directly owns 69,394 shares of the company’s stock, valued at approximately $7,739,512.82. This represents a 5.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 12,172 shares of company stock valued at $1,356,847. Company insiders own 21.75% of the company’s stock.

Altair Engineering Price Performance

Shares of ALTR stock opened at $111.85 on Thursday. The stock’s 50-day moving average is $111.17 and its 200 day moving average is $106.06. Altair Engineering Inc. has a 1-year low of $75.71 and a 1-year high of $113.12. The company has a market cap of $9.60 billion, a P/E ratio of 657.94, a PEG ratio of 10.75 and a beta of 1.45.

Altair Engineering (NASDAQ:ALTR) last issued its quarterly earnings data on Thursday, February 20th. The software reported $0.36 EPS 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 business had revenue of $192.63 million for the quarter, compared to analysts’ expectations of $182.98 million. On average, analysts anticipate that Altair Engineering Inc. will post 0.87 EPS for the current year.

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.