Lindenwold Advisors INC Sells 723 Shares of Altair Engineering Inc. (NASDAQ:ALTR)

Lindenwold Advisors INC lowered its holdings in Altair Engineering Inc. (NASDAQ:ALTR) by 19.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,086 shares of the software’s stock after selling 723 shares during the period. Lindenwold Advisors INC’s holdings in Altair Engineering were worth $337,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. NBT Bank N A NY increased its position in Altair Engineering by 76.4% in the 4th quarter. NBT Bank N A NY now owns 247 shares of the software’s stock valued at $27,000 after acquiring an additional 107 shares during the period. UMB Bank n.a. lifted its stake in shares of Altair Engineering by 77.0% in the fourth quarter. UMB Bank n.a. now owns 285 shares of the software’s stock valued at $31,000 after buying an additional 124 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Altair Engineering by 14.6% in the fourth quarter. GAMMA Investing LLC now owns 729 shares of the software’s stock valued at $80,000 after purchasing an additional 93 shares during the last quarter. Blue Trust Inc. raised its holdings in shares of Altair Engineering by 185.5% in the fourth quarter. Blue Trust Inc. now owns 825 shares of the software’s stock valued at $90,000 after purchasing an additional 536 shares during the last quarter. Finally, KBC Group NV increased its stake in shares of Altair Engineering by 17.9% in the third quarter. KBC Group NV now owns 1,640 shares of the software’s stock worth $157,000 after purchasing an additional 249 shares in the last quarter. Institutional investors own 63.38% of the company’s stock.

Wall Street Analyst Weigh In

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

Insider Activity at Altair Engineering

In other Altair Engineering news, CFO Matthew Charles Brown sold 1,048 shares of the stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $108.90, for a total value of $114,127.20. Following the sale, the chief financial officer now owns 55,519 shares of the company’s stock, valued at $6,046,019.10. This trade represents a 1.85 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Teresa A. Harris sold 2,700 shares of the firm’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $111.61, for a total value of $301,347.00. Following the sale, the director now directly owns 18,542 shares in the company, valued at $2,069,472.62. This trade represents a 12.71 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 10,805 shares of company stock valued at $1,202,184. 21.75% of the stock is owned by insiders.

Altair Engineering Stock Up 0.0 %

ALTR stock opened at $111.44 on Wednesday. The business’s fifty day simple moving average is $110.83 and its two-hundred day simple moving average is $104.25. Altair Engineering Inc. has a twelve month low of $75.71 and a twelve month high of $113.12. The firm has a market cap of $9.56 billion, a price-to-earnings ratio of 655.53, a PEG ratio of 10.75 and a beta of 1.45.

Altair Engineering (NASDAQ:ALTR) last issued its quarterly earnings results on Thursday, February 20th. The software reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.15). Altair Engineering had a return on equity of 8.08% and a net margin of 2.13%. The business had revenue of $192.63 million during the quarter, compared to analyst estimates of $182.98 million. Research analysts expect that Altair Engineering Inc. will post 0.87 EPS for the current year.

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.