FIL Ltd Buys Shares of 113,000 Altair Engineering Inc. (NASDAQ:ALTR)

FIL Ltd purchased a new position in shares of Altair Engineering Inc. (NASDAQ:ALTR) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund purchased 113,000 shares of the software’s stock, valued at approximately $12,329,000. FIL Ltd owned 0.13% of Altair Engineering at the end of the most recent reporting period.

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

Insider Buying and Selling

In other Altair Engineering news, Director Teresa A. Harris sold 450 shares of the business’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $111.08, for a total transaction of $49,986.00. Following the transaction, the director now owns 18,092 shares of the company’s stock, valued at $2,009,659.36. The trade was a 2.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CRO Nelson Dias sold 373 shares of the company’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 value of $41,600.69. Following the completion of the sale, the executive now owns 57,573 shares in the company, valued at $6,421,116.69. This represents a 0.64 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 12,172 shares of company stock worth $1,356,847. Insiders own 21.75% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on ALTR shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Altair Engineering in a research report on Friday, February 21st. Rosenblatt Securities restated a “neutral” rating and set a $113.00 price objective 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 assigned a hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $100.83.

Altair Engineering Price Performance

NASDAQ ALTR opened at $111.85 on Friday. Altair Engineering Inc. has a 12-month low of $75.71 and a 12-month high of $113.12. The firm’s 50 day moving average is $111.43 and its 200-day moving average is $107.14. The company has a market capitalization of $9.60 billion, a PE ratio of 657.94, a price-to-earnings-growth ratio of 10.75 and a beta of 1.45.

Altair Engineering (NASDAQ:ALTR) last posted its quarterly earnings results 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). The company had revenue of $192.63 million for the quarter, compared to analyst estimates of $182.98 million. Altair Engineering had a return on equity of 8.08% and a net margin of 2.13%. As a group, sell-side analysts expect that Altair Engineering Inc. will post 0.87 EPS for the current year.

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.