Mutual of America Capital Management LLC Sells 1,689 Shares of Altair Engineering Inc. (NASDAQ:ALTR)

Mutual of America Capital Management LLC cut its holdings in Altair Engineering Inc. (NASDAQ:ALTR) by 4.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 36,975 shares of the software’s stock after selling 1,689 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Altair Engineering were worth $3,111,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. McGlone Suttner Wealth Management Inc. acquired a new stake in Altair Engineering in the fourth quarter worth $31,000. UBS Group AG raised its holdings in Altair Engineering by 48.7% in the fourth quarter. UBS Group AG now owns 938 shares of the software’s stock worth $43,000 after purchasing an additional 307 shares during the period. Tower Research Capital LLC TRC raised its holdings in Altair Engineering by 17.2% in the third quarter. Tower Research Capital LLC TRC now owns 1,481 shares of the software’s stock worth $93,000 after purchasing an additional 217 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in Altair Engineering by 10.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,991 shares of the software’s stock worth $125,000 after purchasing an additional 190 shares during the period. Finally, SG Americas Securities LLC raised its holdings in Altair Engineering by 31.3% in the third quarter. SG Americas Securities LLC now owns 2,171 shares of the software’s stock worth $136,000 after purchasing an additional 518 shares during the period. 63.38% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ALTR has been the topic of several analyst reports. 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. Royal Bank of Canada restated a “sector perform” rating and set a $90.00 price objective on shares of Altair Engineering in a report on Thursday, March 21st. JPMorgan Chase & Co. raised their price objective on shares of Altair Engineering from $86.00 to $95.00 and gave the stock an “overweight” rating in a report on Tuesday, March 26th. Oppenheimer raised their price objective on shares of Altair Engineering from $95.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, February 23rd. Finally, Rosenblatt Securities restated a “neutral” rating and set a $88.00 price objective (up from $74.00) on shares of Altair Engineering in a report on Friday, February 23rd. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $88.71.

Altair Engineering Stock Down 0.7 %

Shares of ALTR stock opened at $80.56 on Thursday. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 0.32. Altair Engineering Inc. has a 1 year low of $57.59 and a 1 year high of $92.92. The firm’s fifty day moving average price is $84.88 and its two-hundred day moving average price is $77.96. The firm has a market capitalization of $6.65 billion, a P/E ratio of -619.69, a PEG ratio of 10.80 and a beta of 1.42.

Altair Engineering (NASDAQ:ALTR) last issued its quarterly earnings results on Thursday, February 22nd. The software reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.07. Altair Engineering had a negative net margin of 1.46% and a positive return on equity of 3.77%. The firm had revenue of $171.50 million for the quarter, compared to analyst estimates of $172.48 million. On average, equities analysts predict that Altair Engineering Inc. will post 0.63 EPS for the current fiscal year.

Insider Buying and Selling at Altair Engineering

In other news, major shareholder Christ Revocable Trust sold 3,904 shares of Altair Engineering stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $85.42, for a total value of $333,479.68. Following the completion of the transaction, the insider now owns 283,336 shares of the company’s stock, valued at approximately $24,202,561.12. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, major shareholder George J. Christ sold 100,000 shares of Altair Engineering stock in a transaction dated Tuesday, January 23rd. The shares were sold at an average price of $87.32, for a total value of $8,732,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Christ Revocable Trust sold 3,904 shares of Altair Engineering stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $85.42, for a total transaction of $333,479.68. Following the sale, the insider now directly owns 283,336 shares of the company’s stock, valued at approximately $24,202,561.12. The disclosure for this sale can be found here. In the last three months, insiders have sold 261,830 shares of company stock worth $22,608,320. Insiders own 21.75% of the company’s stock.

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.