Lindenwold Advisors INC Decreases Position in Altair Engineering Inc. (NASDAQ:ALTR)

Lindenwold Advisors INC trimmed its position in shares of Altair Engineering Inc. (NASDAQ:ALTR) by 19.0% during the fourth quarter, Holdings Channel reports. The firm owned 3,086 shares of the software’s stock after selling 723 shares during the quarter. Lindenwold Advisors INC’s holdings in Altair Engineering were worth $337,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Fisher Asset Management LLC increased its stake in Altair Engineering by 27.0% in the third quarter. Fisher Asset Management LLC now owns 401,612 shares of the software’s stock valued at $38,358,000 after purchasing an additional 85,303 shares during the last quarter. Principal Financial Group Inc. raised its stake in Altair Engineering by 1.7% during the fourth quarter. Principal Financial Group Inc. now owns 168,665 shares of the software’s stock valued at $18,403,000 after buying an additional 2,872 shares in the last quarter. Citigroup Inc. raised its position in shares of Altair Engineering by 141.0% during the 3rd quarter. Citigroup Inc. now owns 50,518 shares of the software’s stock worth $4,825,000 after purchasing an additional 29,556 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Altair Engineering in the 3rd quarter valued at approximately $1,356,000. Finally, UMB Bank n.a. boosted its stake in Altair Engineering by 77.0% during the 4th quarter. UMB Bank n.a. now owns 285 shares of the software’s stock valued at $31,000 after purchasing an additional 124 shares in the last quarter. 63.38% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ALTR has been the subject of several research reports. Needham & Company LLC reissued a “hold” rating on shares of Altair Engineering in a research note on Friday, February 21st. Rosenblatt Securities reiterated 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. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $100.83.

Altair Engineering Price Performance

ALTR stock opened at $111.44 on Wednesday. The company has a 50 day moving average price of $110.83 and a 200 day moving average price of $104.25. The stock has a market capitalization of $9.56 billion, a PE ratio of 655.53, a price-to-earnings-growth ratio of 10.75 and a beta of 1.45. Altair Engineering Inc. has a fifty-two week low of $75.71 and a fifty-two week high of $113.12.

Altair Engineering (NASDAQ:ALTR) last announced its quarterly earnings results 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). The firm had revenue of $192.63 million during the quarter, compared to analyst estimates of $182.98 million. Altair Engineering had a net margin of 2.13% and a return on equity of 8.08%. As a group, equities analysts expect that Altair Engineering Inc. will post 0.87 earnings per share for the current fiscal year.

Insider Transactions at Altair Engineering

In related news, Director Teresa A. Harris sold 2,700 shares of the firm’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $111.61, for a total value of $301,347.00. Following the completion of the sale, the director now directly owns 18,542 shares in the company, valued at approximately $2,069,472.62. This trade represents a 12.71 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Matthew Charles Brown sold 742 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $111.45, for a total transaction of $82,695.90. Following the sale, the chief financial officer now owns 68,652 shares of the company’s stock, valued at $7,651,265.40. This trade represents a 1.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 10,805 shares of company stock worth $1,202,184 in the last three months. Insiders own 21.75% of the company’s stock.

About Altair Engineering

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.