Jrs Investments Llc Sells 14,571 Shares of Altair Engineering Inc. (NASDAQ:ALTR) Stock

Altair Engineering Inc. (NASDAQ:ALTR) major shareholder Jrs Investments Llc sold 14,571 shares of Altair Engineering stock in a transaction dated Friday, September 17th. The shares were sold at an average price of $74.69, for a total value of $1,088,307.99. Following the completion of the transaction, the insider now directly owns 14,571 shares of the company’s stock, valued at $1,088,307.99. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Jrs Investments Llc also recently made the following trade(s):

  • On Wednesday, September 15th, Jrs Investments Llc sold 7,564 shares of Altair Engineering stock. The shares were sold at an average price of $75.42, for a total value of $570,476.88.
  • On Tuesday, August 17th, Jrs Investments Llc sold 5,659 shares of Altair Engineering stock. The shares were sold at an average price of $71.12, for a total value of $402,468.08.
  • On Monday, July 19th, Jrs Investments Llc sold 4,742 shares of Altair Engineering stock. The shares were sold at an average price of $64.95, for a total value of $307,992.90.
  • On Thursday, July 15th, Jrs Investments Llc sold 12,177 shares of Altair Engineering stock. The shares were sold at an average price of $66.02, for a total value of $803,925.54.

ALTR stock opened at $73.31 on Thursday. The business has a 50 day moving average price of $71.82 and a 200 day moving average price of $67.42. The stock has a market cap of $5.54 billion, a price-to-earnings ratio of -814.56 and a beta of 1.50. Altair Engineering Inc. has a fifty-two week low of $39.37 and a fifty-two week high of $76.91.

Altair Engineering (NASDAQ:ALTR) last posted its earnings results on Thursday, August 5th. The software reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.11) by $0.07. The firm had revenue of $119.91 million during the quarter, compared to analysts’ expectations of $111.50 million. Altair Engineering had a positive return on equity of 4.74% and a negative net margin of 1.10%. Research analysts predict that Altair Engineering Inc. will post 0.13 EPS for the current fiscal year.

Several equities analysts have recently issued reports on the company. Guggenheim reiterated a “hold” rating on shares of Altair Engineering in a research note on Sunday, May 30th. Rosenblatt Securities lifted their price objective on Altair Engineering from $79.00 to $80.00 and gave the company a “buy” rating in a research note on Friday, August 6th. William Blair reiterated a “buy” rating on shares of Altair Engineering in a research note on Tuesday, September 7th. Royal Bank of Canada lifted their price objective on Altair Engineering from $64.00 to $74.00 and gave the company a “sector perform” rating in a research note on Friday, August 6th. Finally, Zacks Investment Research upgraded Altair Engineering from a “hold” rating to a “buy” rating and set a $79.00 target price for the company in a research note on Tuesday, August 10th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $71.00.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Quantbot Technologies LP increased its position in Altair Engineering by 1,620.0% during the first quarter. Quantbot Technologies LP now owns 516 shares of the software’s stock worth $32,000 after buying an additional 486 shares during the period. FORA Capital LLC acquired a new position in Altair Engineering during the first quarter worth approximately $79,000. Panagora Asset Management Inc. acquired a new position in Altair Engineering during the second quarter worth approximately $125,000. Great West Life Assurance Co. Can increased its position in Altair Engineering by 18.4% during the first quarter. Great West Life Assurance Co. Can now owns 2,733 shares of the software’s stock worth $169,000 after buying an additional 425 shares during the period. Finally, Advisor Group Holdings Inc. increased its position in Altair Engineering by 134.7% during the second quarter. Advisor Group Holdings Inc. now owns 2,891 shares of the software’s stock worth $201,000 after buying an additional 1,659 shares during the period. 58.53% of the stock is currently owned by institutional investors.

About Altair Engineering

Altair Engineering, Inc engages in the provision of software and cloud solutions for product design & development, high performance cloud computing and data intelligence. It operates through the following segments: Software and Client Engineering Services. The Software segment includes a portfolio of software products; as well as solvers and optimization technology products, modelling and visualization tools.

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Insider Buying and Selling by Quarter for Altair Engineering (NASDAQ:ALTR)

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