6,877 Shares in Altair Engineering Inc. (NASDAQ:ALTR) Acquired by Blackstone Inc.

Blackstone Inc. acquired a new position in shares of Altair Engineering Inc. (NASDAQ:ALTR) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 6,877 shares of the software’s stock, valued at approximately $750,000.

Other large investors also recently added to or reduced their stakes in the company. FIL Ltd acquired a new position in Altair Engineering during the fourth quarter valued at $12,329,000. Principal Financial Group Inc. increased its holdings in shares of Altair Engineering by 1.7% in the 4th quarter. Principal Financial Group Inc. now owns 168,665 shares of the software’s stock valued at $18,403,000 after purchasing an additional 2,872 shares during the period. UMB Bank n.a. increased its holdings in shares of Altair Engineering by 77.0% in the 4th 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 period. Blue Trust Inc. lifted its position 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, KBC Group NV boosted its holdings in shares of Altair Engineering by 62.4% during the fourth quarter. KBC Group NV now owns 2,663 shares of the software’s stock worth $291,000 after purchasing an additional 1,023 shares during the period. 63.38% of the stock is owned by institutional investors and hedge funds.

Altair Engineering Stock Performance

Shares of NASDAQ:ALTR opened at $111.85 on Tuesday. The stock has a market capitalization of $9.60 billion, a PE ratio of 657.94, a P/E/G ratio of 10.75 and a beta of 1.45. Altair Engineering Inc. has a 1 year low of $75.71 and a 1 year high of $113.12. The firm has a fifty day moving average price of $111.71 and a 200 day moving average price of $109.14.

Altair Engineering (NASDAQ:ALTR) last issued its quarterly earnings data on Thursday, February 20th. The software reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.15). Altair Engineering had a net margin of 2.13% and a return on equity of 8.08%. The company had revenue of $192.63 million for the quarter, compared to analyst estimates of $182.98 million. On average, sell-side analysts forecast that Altair Engineering Inc. will post 0.87 earnings per share for the current fiscal year.

Insider Activity

In related news, CMO Amy Messano sold 416 shares of the business’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $111.30, for a total transaction of $46,300.80. Following the transaction, the chief marketing officer now owns 22,980 shares of the company’s stock, valued at approximately $2,557,674. The trade was a 1.78 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CRO Nelson Dias sold 1,671 shares of the company’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $111.30, for a total transaction of $185,982.30. Following the transaction, the executive now owns 55,411 shares of the company’s stock, valued at approximately $6,167,244.30. The trade was a 2.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 12,172 shares of company stock valued at $1,356,847 over the last 90 days. 21.75% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

ALTR has been the subject of a number of research analyst reports. Needham & Company LLC reiterated a “hold” rating on shares of Altair Engineering in a research report on Friday, February 21st. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $113.00 price target on shares of Altair Engineering in a research note on Monday, February 24th. One investment analyst has rated the stock with a sell rating and seven have given a hold rating to the stock. According to MarketBeat.com, Altair Engineering currently has an average rating of “Hold” and a consensus target price of $100.83.

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.