Yakira Capital Management Inc. Invests $3.11 Million in Altair Engineering Inc. (NASDAQ:ALTR)

Yakira Capital Management Inc. acquired a new stake in Altair Engineering Inc. (NASDAQ:ALTR) during the 4th quarter, HoldingsChannel reports. The firm acquired 28,500 shares of the software’s stock, valued at approximately $3,110,000. Altair Engineering accounts for about 1.1% of Yakira Capital Management Inc.’s investment portfolio, making the stock its 27th largest holding.

Other institutional investors and hedge funds have also bought and sold shares of the company. NBT Bank N A NY lifted its position in shares of Altair Engineering by 76.4% during the 4th quarter. NBT Bank N A NY now owns 247 shares of the software’s stock valued at $27,000 after buying an additional 107 shares during the last quarter. UMB Bank n.a. lifted its holdings in Altair Engineering by 77.0% during the fourth quarter. UMB Bank n.a. now owns 285 shares of the software’s stock valued at $31,000 after purchasing an additional 124 shares during the last quarter. GAMMA Investing LLC boosted its position in Altair Engineering by 14.6% during the fourth quarter. GAMMA Investing LLC now owns 729 shares of the software’s stock worth $80,000 after purchasing an additional 93 shares during the period. Blue Trust Inc. increased its stake in shares of Altair Engineering by 185.5% in the fourth quarter. Blue Trust Inc. now owns 825 shares of the software’s stock worth $90,000 after purchasing an additional 536 shares in the last quarter. Finally, IFP Advisors Inc purchased a new stake in shares of Altair Engineering during the 4th quarter valued at approximately $185,000. 63.38% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Rosenblatt Securities reiterated a “neutral” rating and issued a $113.00 price objective on shares of Altair Engineering in a research note on Monday, February 24th. Needham & Company LLC reiterated a “hold” rating on shares of Altair Engineering in a research report on Friday, February 21st. One research analyst has rated the stock with a sell rating and seven have given a hold rating to the company. Based on data from MarketBeat.com, Altair Engineering has a consensus rating of “Hold” and an average price target of $100.83.

Insider Transactions at Altair Engineering

In other news, Director Teresa A. Harris sold 2,700 shares of the stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $111.61, for a total transaction of $301,347.00. Following the transaction, the director now directly owns 18,542 shares in the company, valued at approximately $2,069,472.62. This represents a 12.71 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Matthew Charles Brown sold 3,811 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $111.53, for a total value of $425,040.83. Following the transaction, the chief financial officer now directly owns 69,394 shares in the company, valued at approximately $7,739,512.82. This represents a 5.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 12,172 shares of company stock valued at $1,356,847. 21.75% of the stock is owned by corporate insiders.

Altair Engineering Price Performance

Shares of NASDAQ:ALTR opened at $111.85 on Friday. The firm has a fifty day moving average price of $111.22 and a two-hundred day moving average price of $106.36. The company has a market cap of $9.60 billion, a price-to-earnings ratio of 657.94, a PEG ratio of 10.75 and a beta of 1.45. Altair Engineering Inc. has a one year low of $75.71 and a one year high of $113.12.

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). The business had revenue of $192.63 million for the quarter, compared to the consensus estimate of $182.98 million. Altair Engineering had a net margin of 2.13% and a return on equity of 8.08%. Equities research analysts expect that Altair Engineering Inc. will post 0.87 EPS for the current fiscal year.

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.