Moody Aldrich Partners LLC Has $7.19 Million Stock Holdings in Altair Engineering Inc. (NASDAQ:ALTR)

Moody Aldrich Partners LLC raised its holdings in Altair Engineering Inc. (NASDAQ:ALTR) by 15.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 75,233 shares of the software’s stock after buying an additional 9,907 shares during the period. Altair Engineering comprises about 1.3% of Moody Aldrich Partners LLC’s holdings, making the stock its 21st largest position. Moody Aldrich Partners LLC owned approximately 0.09% of Altair Engineering worth $7,186,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in ALTR. ProShare Advisors LLC lifted its position in Altair Engineering by 1.6% in the 2nd quarter. ProShare Advisors LLC now owns 10,219 shares of the software’s stock valued at $1,002,000 after acquiring an additional 160 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Altair Engineering by 81.7% in the second quarter. GAMMA Investing LLC now owns 418 shares of the software’s stock valued at $41,000 after purchasing an additional 188 shares in the last quarter. American International Group Inc. lifted its holdings in shares of Altair Engineering by 0.7% in the fourth quarter. American International Group Inc. now owns 27,018 shares of the software’s stock valued at $2,274,000 after purchasing an additional 189 shares in the last quarter. FSC Wealth Advisors LLC boosted its position in shares of Altair Engineering by 41.3% during the second quarter. FSC Wealth Advisors LLC now owns 832 shares of the software’s stock valued at $82,000 after buying an additional 243 shares during the last quarter. Finally, Blue Trust Inc. grew its holdings in Altair Engineering by 572.1% during the third quarter. Blue Trust Inc. now owns 289 shares of the software’s stock worth $28,000 after buying an additional 246 shares in the last quarter. 63.38% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Altair Engineering

In related news, major shareholder George J. Christ sold 2,176 shares of the business’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $95.31, for a total value of $207,394.56. Following the sale, the insider now directly owns 300,000 shares in the company, valued at approximately $28,593,000. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, major shareholder George J. Christ sold 2,176 shares of Altair Engineering stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $95.31, for a total value of $207,394.56. Following the completion of the transaction, the insider now owns 300,000 shares in the company, valued at $28,593,000. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Teresa A. Harris sold 620 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $82.57, for a total transaction of $51,193.40. Following the completion of the sale, the director now directly owns 21,242 shares in the company, valued at approximately $1,753,951.94. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 260,360 shares of company stock worth $24,537,300. 21.75% of the stock is owned by company insiders.

Altair Engineering Stock Performance

NASDAQ ALTR traded down $0.56 during trading hours on Thursday, reaching $106.09. 97,231 shares of the company were exchanged, compared to its average volume of 469,032. The company has a quick ratio of 3.14, a current ratio of 3.14 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $8.81 billion, a P/E ratio of 1,185.00, a P/E/G ratio of 12.15 and a beta of 1.45. Altair Engineering Inc. has a 1 year low of $57.59 and a 1 year high of $112.15. The business’s 50 day simple moving average is $92.15 and its 200-day simple moving average is $90.52.

Altair Engineering (NASDAQ:ALTR) last posted its quarterly earnings results on Thursday, August 1st. The software reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.01. Altair Engineering had a net margin of 4.26% and a return on equity of 6.89%. The company had revenue of $148.80 million for the quarter, compared to analysts’ expectations of $146.88 million. During the same quarter in the previous year, the firm posted ($0.15) EPS. Altair Engineering’s revenue was up 5.4% on a year-over-year basis. On average, equities research analysts expect that Altair Engineering Inc. will post 0.65 earnings per share for the current year.

Analyst Ratings Changes

ALTR has been the topic of several recent analyst reports. Royal Bank of Canada restated a “sector perform” rating and set a $90.00 price objective on shares of Altair Engineering in a research note on Wednesday. Needham & Company LLC restated a “buy” rating and set a $100.00 price target on shares of Altair Engineering in a report on Friday, August 2nd. JPMorgan Chase & Co. downgraded shares of Altair Engineering from an “overweight” rating to a “neutral” rating and set a $95.00 price objective for the company. in a research report on Monday, July 15th. Finally, The Goldman Sachs Group cut shares of Altair Engineering from a “neutral” rating to a “sell” rating and dropped their target price for the stock from $85.00 to $71.00 in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $90.67.

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.