19,720 Shares in Altair Engineering Inc. (NASDAQ:ALTR) Purchased by Wolverine Asset Management LLC

Wolverine Asset Management LLC purchased a new stake in Altair Engineering Inc. (NASDAQ:ALTR) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 19,720 shares of the software’s stock, valued at approximately $2,152,000.

Several other large investors have also recently bought and sold shares of ALTR. UMB Bank n.a. grew its position 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 purchasing an additional 124 shares during the last quarter. Blue Trust Inc. boosted its stake in Altair Engineering by 572.1% in the 3rd quarter. Blue Trust Inc. now owns 289 shares of the software’s stock valued at $28,000 after purchasing an additional 246 shares during the period. GAMMA Investing LLC grew its holdings in Altair Engineering by 14.6% in the 4th quarter. GAMMA Investing LLC now owns 729 shares of the software’s stock valued at $80,000 after buying an additional 93 shares in the last quarter. Van ECK Associates Corp increased its position in Altair Engineering by 28.5% during the 3rd quarter. Van ECK Associates Corp now owns 1,358 shares of the software’s stock worth $130,000 after buying an additional 301 shares during the period. Finally, KBC Group NV lifted its holdings in shares of Altair Engineering by 17.9% during the third quarter. KBC Group NV now owns 1,640 shares of the software’s stock worth $157,000 after buying an additional 249 shares in the last quarter. 63.38% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on ALTR. Loop Capital restated a “hold” rating and issued a $113.00 price target on shares of Altair Engineering in a research note on Thursday, October 31st. Rosenblatt Securities increased their target price on shares of Altair Engineering from $88.00 to $113.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Wolfe Research downgraded shares of Altair Engineering from a “strong-buy” rating to a “hold” rating in a research report on Sunday, November 3rd. William Blair reissued a “market perform” rating on shares of Altair Engineering in a research report on Thursday, October 31st. Finally, Needham & Company LLC restated a “hold” rating on shares of Altair Engineering in a research note on Friday. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, Altair Engineering presently has an average rating of “Hold” and an average price target of $100.71.

Altair Engineering Price Performance

NASDAQ ALTR opened at $111.78 on Friday. The business has a fifty day moving average price of $109.90 and a two-hundred day moving average price of $101.40. The stock has a market capitalization of $9.51 billion, a PE ratio of 294.17, a PEG ratio of 10.70 and a beta of 1.42. Altair Engineering Inc. has a fifty-two week low of $75.71 and a fifty-two week high of $113.12. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.27 and a quick ratio of 3.27.

Altair Engineering (NASDAQ:ALTR) last posted its quarterly earnings results on Thursday, February 20th. The software reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.15). The business had revenue of $192.63 million for the quarter, compared to analyst estimates of $182.98 million. Altair Engineering had a return on equity of 7.49% and a net margin of 5.10%. Equities analysts expect that Altair Engineering Inc. will post 0.75 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Altair Engineering news, CEO James Ralph Scapa sold 16,095 shares of the business’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $105.65, for a total transaction of $1,700,436.75. Following the sale, the chief executive officer now owns 117,950 shares of the company’s stock, valued at approximately $12,461,417.50. The trade was a 12.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Jrs Investments Llc sold 6,500 shares of the stock in a transaction on Friday, November 29th. The shares were sold at an average price of $105.69, for a total value of $686,985.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 59,143 shares of company stock valued at $6,265,694. 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.