Altair Engineering Inc. (NASDAQ:ALTR) Major Shareholder Jrs Investments Llc Sells 6,500 Shares

by · The Markets Daily

Altair Engineering Inc. (NASDAQ:ALTR – Get Free Report) major shareholder Jrs Investments Llc sold 6,500 shares of the company’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $102.59, for a total value of $666,835.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Jrs Investments Llc also recently made the following trade(s):

  • On Monday, September 30th, Jrs Investments Llc sold 6,500 shares of Altair Engineering stock. The stock was sold at an average price of $95.10, for a total value of $618,150.00.
  • On Wednesday, August 28th, Jrs Investments Llc sold 6,500 shares of Altair Engineering stock. The stock was sold at an average price of $89.04, for a total value of $578,760.00.

Altair Engineering Price Performance

Shares of ALTR traded up $8.91 during trading hours on Tuesday, reaching $110.91. 951,677 shares of the company’s stock traded hands, compared to its average volume of 474,239. The company has a current ratio of 3.14, a quick ratio of 3.14 and a debt-to-equity ratio of 0.29. Altair Engineering Inc. has a 12 month low of $57.59 and a 12 month high of $113.12. The stock has a market cap of $9.21 billion, a PE ratio of 1,232.33, a price-to-earnings-growth ratio of 12.15 and a beta of 1.45. The firm’s 50 day simple moving average is $92.85 and its 200-day simple moving average is $90.97.

Altair Engineering (NASDAQ:ALTR – Get Free Report) last announced its earnings results on Thursday, August 1st. The software reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.01. Altair Engineering had a return on equity of 6.89% and a net margin of 4.26%. The firm had revenue of $148.80 million during the quarter, compared to analyst estimates of $146.88 million. During the same quarter in the prior year, the company earned ($0.15) EPS. The business’s revenue was up 5.4% compared to the same quarter last year. Equities analysts expect that Altair Engineering Inc. will post 0.65 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on ALTR shares. The Goldman Sachs Group downgraded shares of Altair Engineering from a “neutral” rating to a “sell” rating and lowered their price objective for the company from $85.00 to $71.00 in a report on Friday, August 2nd. JPMorgan Chase & Co. cut 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. Royal Bank of Canada restated a “sector perform” rating and set a $90.00 price objective on shares of Altair Engineering in a research report on Wednesday, October 23rd. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $100.00 price target on shares of Altair Engineering in a research note on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $90.67.

Read Our Latest Analysis on ALTR

Institutional Trading of Altair Engineering

Several hedge funds have recently bought and sold shares of the stock. Principal Financial Group Inc. boosted its position in shares of Altair Engineering by 288.6% during the first quarter. Principal Financial Group Inc. now owns 24,357 shares of the software’s stock worth $2,098,000 after acquiring an additional 18,089 shares during the last quarter. Daiwa Securities Group Inc. purchased a new position in Altair Engineering during the 1st quarter valued at approximately $1,465,000. GSA Capital Partners LLP boosted its holdings in Altair Engineering by 355.9% during the 1st quarter. GSA Capital Partners LLP now owns 24,852 shares of the software’s stock valued at $2,141,000 after acquiring an additional 19,401 shares during the period. SG Americas Securities LLC bought a new position in Altair Engineering in the 1st quarter valued at $177,000. Finally, Swiss National Bank boosted its position in Altair Engineering by 1.2% during the 1st quarter. Swiss National Bank now owns 107,800 shares of the software’s stock valued at $9,287,000 after acquiring an additional 1,300 shares in the last quarter. Institutional investors own 63.38% of the company’s stock.

About Altair Engineering

(Get Free Report)

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.

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