New York State Common Retirement Fund Has $10.07 Million Stake in Altair Engineering Inc. (NASDAQ:ALTR)

New York State Common Retirement Fund increased its position in Altair Engineering Inc. (NASDAQ:ALTR) by 0.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 119,612 shares of the software’s stock after buying an additional 628 shares during the period. New York State Common Retirement Fund owned 0.15% of Altair Engineering worth $10,065,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. SG Americas Securities LLC increased its position in Altair Engineering by 31.3% during the third quarter. SG Americas Securities LLC now owns 2,171 shares of the software’s stock worth $136,000 after buying an additional 518 shares during the last quarter. Bank of New York Mellon Corp grew its stake in Altair Engineering by 6.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 269,932 shares of the software’s stock valued at $16,887,000 after buying an additional 16,768 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Altair Engineering by 9.1% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,438 shares of the software’s stock worth $653,000 after acquiring an additional 870 shares during the period. Strs Ohio lifted its position in Altair Engineering by 95.7% during the 3rd quarter. Strs Ohio now owns 9,000 shares of the software’s stock worth $563,000 after acquiring an additional 4,400 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in Altair Engineering by 8.0% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 27,535 shares of the software’s stock worth $1,723,000 after acquiring an additional 2,039 shares during the last quarter. Institutional investors own 63.38% of the company’s stock.

Altair Engineering Stock Up 1.2 %

ALTR opened at $81.41 on Thursday. The company has a market capitalization of $6.72 billion, a P/E ratio of -619.23, a P/E/G ratio of 10.99 and a beta of 1.42. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.16 and a quick ratio of 2.16. The firm’s fifty day moving average price is $83.57 and its two-hundred day moving average price is $79.12. Altair Engineering Inc. has a fifty-two week low of $57.59 and a fifty-two week high of $92.92.

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Needham & Company LLC reiterated a “buy” rating and issued a $100.00 price objective on shares of Altair Engineering in a research note on Monday, March 25th. Royal Bank of Canada reiterated a “sector perform” rating and set a $90.00 price target on shares of Altair Engineering in a report on Thursday, March 21st. Rosenblatt Securities restated a “neutral” rating and issued a $88.00 price objective on shares of Altair Engineering in a research note on Monday. Oppenheimer upped their target price on shares of Altair Engineering from $95.00 to $100.00 and gave the company an “outperform” rating in a research note on Friday, February 23rd. Finally, JPMorgan Chase & Co. boosted 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. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $90.00.

Insider Buying and Selling at Altair Engineering

In other news, major shareholder George J. Christ sold 83,336 shares of the stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $85.99, for a total value of $7,166,062.64. Following the completion of the transaction, the insider now directly owns 200,000 shares of the company’s stock, valued at approximately $17,198,000. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Altair Engineering news, major shareholder George J. Christ sold 83,336 shares of the company’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $85.99, for a total value of $7,166,062.64. Following the sale, the insider now directly owns 200,000 shares in the company, valued at $17,198,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Jrs Investments Llc sold 5,000 shares of Altair Engineering stock in a transaction on Friday, February 16th. The shares were sold at an average price of $91.07, for a total value of $455,350.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 161,830 shares of company stock valued at $13,876,320. 21.75% of the stock is currently owned by corporate insiders.

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.