Impax Asset Management Group plc Sells 230,700 Shares of Altair Engineering Inc. (NASDAQ:ALTR)

Impax Asset Management Group plc lessened its holdings in shares of Altair Engineering Inc. (NASDAQ:ALTR - Free Report) by 10.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,899,850 shares of the software's stock after selling 230,700 shares during the quarter. Impax Asset Management Group plc owned about 2.33% of Altair Engineering worth $158,973,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. McGlone Suttner Wealth Management Inc. purchased a new position in Altair Engineering during the 4th quarter valued at approximately $31,000. UBS Group AG grew its holdings in Altair Engineering by 48.7% during the 4th quarter. UBS Group AG now owns 938 shares of the software's stock valued at $43,000 after buying an additional 307 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in Altair Engineering by 17.2% during the 3rd quarter. Tower Research Capital LLC TRC now owns 1,481 shares of the software's stock valued at $93,000 after buying an additional 217 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Altair Engineering by 10.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,991 shares of the software's stock valued at $125,000 after buying an additional 190 shares in the last quarter. Finally, SG Americas Securities LLC grew its holdings in Altair Engineering by 31.3% during the 3rd quarter. SG Americas Securities LLC now owns 2,171 shares of the software's stock valued at $136,000 after buying an additional 518 shares in the last quarter. Institutional investors own 63.38% of the company's stock.

Insider Buying and Selling at Altair Engineering

In other news, CEO James Ralph Scapa sold 10,000 shares of the business's stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $83.73, for a total value of $837,300.00. Following the completion of the transaction, the chief executive officer now directly owns 103,591 shares of the company's stock, valued at approximately $8,673,674.43. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, major shareholder George J. Christ sold 100,000 shares of the business's stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $87.32, for a total value of $8,732,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO James Ralph Scapa sold 10,000 shares of the business's stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $83.73, for a total value of $837,300.00. Following the completion of the transaction, the chief executive officer now directly owns 103,591 shares of the company's stock, valued at $8,673,674.43. The disclosure for this sale can be found here. Insiders sold a total of 264,047 shares of company stock valued at $22,766,850 in the last ninety days. Corporate insiders own 22.17% of the company's stock.

Altair Engineering Stock Down 0.9 %

NASDAQ ALTR traded down $0.79 on Tuesday, reaching $85.14. 523,076 shares of the stock traded hands, compared to its average volume of 421,625. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.16 and a current ratio of 2.16. The company has a fifty day moving average price of $85.57 and a 200-day moving average price of $77.05. The company has a market cap of $7.02 billion, a price-to-earnings ratio of -661.00, a PEG ratio of 11.28 and a beta of 1.42. Altair Engineering Inc. has a 12 month low of $57.59 and a 12 month high of $92.92.

Altair Engineering (NASDAQ:ALTR - Get Free Report) last issued its earnings results on Thursday, February 22nd. The software reported $0.29 earnings per share for the quarter, beating analysts' consensus estimates of $0.22 by $0.07. The business had revenue of $171.50 million during the quarter, compared to analyst estimates of $172.48 million. Altair Engineering had a positive return on equity of 3.77% and a negative net margin of 1.46%. As a group, research analysts forecast that Altair Engineering Inc. will post 0.63 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on ALTR. JPMorgan Chase & Co. lifted their target price on Altair Engineering from $86.00 to $95.00 and gave the stock an "overweight" rating in a report on Tuesday, March 26th. Needham & Company LLC reiterated a "buy" rating and issued a $100.00 target price on shares of Altair Engineering in a report on Monday, March 25th. Rosenblatt Securities reiterated a "neutral" rating and issued a $88.00 target price (up previously from $74.00) on shares of Altair Engineering in a report on Friday, February 23rd. Oppenheimer lifted their target price on Altair Engineering from $95.00 to $100.00 and gave the stock an "outperform" rating in a report on Friday, February 23rd. Finally, Royal Bank of Canada reiterated a "sector perform" rating and issued a $90.00 target price on shares of Altair Engineering in a report on Thursday, March 21st. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Altair Engineering currently has an average rating of "Moderate Buy" and an average price target of $88.71.

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.

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