Versor Investments LP Acquires 54,556 Shares of Altair Engineering Inc. (NASDAQ:ALTR)

Versor Investments LP lifted its stake in shares of Altair Engineering Inc. (NASDAQ:ALTR) by 1,069.9% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 59,655 shares of the software’s stock after buying an additional 54,556 shares during the period. Altair Engineering accounts for about 1.1% of Versor Investments LP’s investment portfolio, making the stock its 8th biggest holding. Versor Investments LP’s holdings in Altair Engineering were worth $6,509,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of ALTR. Creative Planning boosted its stake in Altair Engineering by 5.9% during the third quarter. Creative Planning now owns 11,279 shares of the software’s stock worth $1,077,000 after acquiring an additional 631 shares in the last quarter. Blue Trust Inc. raised its holdings in shares of Altair Engineering by 572.1% during the third quarter. Blue Trust Inc. now owns 289 shares of the software’s stock valued at $28,000 after purchasing an additional 246 shares during the period. Private Advisor Group LLC bought a new position in shares of Altair Engineering during the 3rd quarter worth about $208,000. Ballentine Partners LLC grew its stake in shares of Altair Engineering by 8.5% in the 3rd quarter. Ballentine Partners LLC now owns 2,236 shares of the software’s stock valued at $214,000 after buying an additional 175 shares during the period. Finally, Louisiana State Employees Retirement System grew its stake in shares of Altair Engineering by 2.5% in the 3rd quarter. Louisiana State Employees Retirement System now owns 16,500 shares of the software’s stock valued at $1,576,000 after buying an additional 400 shares during the period. Institutional investors own 63.38% of the company’s stock.

Insiders Place Their Bets

In other Altair Engineering news, CRO Nelson Dias sold 22,500 shares of the business’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $106.23, for a total value of $2,390,175.00. Following the transaction, the executive now directly owns 48,437 shares in the company, valued at $5,145,462.51. The trade was a 31.72 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Matthew Charles Brown sold 1,048 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $108.90, for a total transaction of $114,127.20. Following the sale, the chief financial officer now owns 55,519 shares of the company’s stock, valued at approximately $6,046,019.10. The trade was a 1.85 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 59,143 shares of company stock valued at $6,265,694. Corporate insiders own 21.75% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on ALTR shares. Rosenblatt Securities reiterated a “neutral” rating and issued a $113.00 price target on shares of Altair Engineering in a report on Monday. Royal Bank of Canada upped their target price on Altair Engineering from $90.00 to $113.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 31st. Wolfe Research downgraded shares of Altair Engineering from a “strong-buy” rating to a “hold” rating in a research report on Sunday, November 3rd. Needham & Company LLC restated a “hold” rating on shares of Altair Engineering in a research note on Friday, February 21st. Finally, William Blair reaffirmed a “market perform” rating on shares of Altair Engineering in a research note on Thursday, October 31st. One analyst has rated the stock with a sell rating and seven have assigned a hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $100.83.

Altair Engineering Trading Up 0.0 %

NASDAQ ALTR opened at $111.60 on Thursday. The business has a fifty day simple moving average of $110.21 and a 200 day simple moving average of $102.03. Altair Engineering Inc. has a 12 month low of $75.71 and a 12 month high of $113.12. The firm has a market capitalization of $9.49 billion, a P/E ratio of 656.47, a PEG ratio of 10.75 and a beta of 1.42.

Altair Engineering (NASDAQ:ALTR) last announced its earnings results 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 firm had revenue of $192.63 million during the quarter, compared to analysts’ expectations of $182.98 million. As a group, sell-side analysts predict that Altair Engineering Inc. will post 0.87 EPS for the current fiscal 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.