Corebridge Financial Inc. Has $10.28 Million Stock Holdings in Altair Engineering Inc. (NASDAQ:ALTR)

Corebridge Financial Inc. decreased its holdings in shares of Altair Engineering Inc. (NASDAQ:ALTR) by 6.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 94,231 shares of the software’s stock after selling 6,170 shares during the quarter. Corebridge Financial Inc.’s holdings in Altair Engineering were worth $10,282,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of ALTR. Magnetar Financial LLC acquired a new position in Altair Engineering during the fourth quarter worth $62,142,000. Vanguard Group Inc. boosted its stake in shares of Altair Engineering by 4.8% during the 4th quarter. Vanguard Group Inc. now owns 6,894,230 shares of the software’s stock worth $752,229,000 after acquiring an additional 317,575 shares in the last quarter. Fisher Asset Management LLC increased its holdings in shares of Altair Engineering by 27.0% during the 3rd quarter. Fisher Asset Management LLC now owns 401,612 shares of the software’s stock valued at $38,358,000 after acquiring an additional 85,303 shares during the last quarter. New York Life Investment Management LLC raised its stake in shares of Altair Engineering by 1,103.3% in the 4th quarter. New York Life Investment Management LLC now owns 76,363 shares of the software’s stock valued at $8,332,000 after acquiring an additional 70,017 shares in the last quarter. Finally, State Street Corp lifted its holdings in Altair Engineering by 3.3% in the 3rd quarter. State Street Corp now owns 2,053,957 shares of the software’s stock worth $196,173,000 after purchasing an additional 65,589 shares during the last quarter. Institutional investors own 63.38% of the company’s stock.

Insider Buying and Selling at Altair Engineering

In related news, CRO Nelson Dias sold 1,671 shares of the company’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 in the company, valued at approximately $6,167,244.30. This represents a 2.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Teresa A. Harris sold 450 shares of Altair Engineering stock in a transaction 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 sale, the director now owns 18,092 shares in the company, valued at $2,009,659.36. This represents a 2.43 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 12,172 shares of company stock valued at $1,356,847 in the last quarter. Corporate insiders own 21.75% of the company’s stock.

Altair Engineering Trading Up 0.9 %

Shares of ALTR stock opened at $112.73 on Thursday. The firm has a market capitalization of $9.67 billion, a P/E ratio of 663.12, a price-to-earnings-growth ratio of 10.75 and a beta of 1.45. Altair Engineering Inc. has a 1 year low of $75.71 and a 1 year high of $113.12. The firm’s fifty day simple moving average is $111.02 and its 200 day simple moving average is $105.17.

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

Wall Street Analyst Weigh In

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

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.