NBT Bank N A NY Acquires 107 Shares of Altair Engineering Inc. (NASDAQ:ALTR)

NBT Bank N A NY increased its holdings in shares of Altair Engineering Inc. (NASDAQ:ALTR) by 76.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 247 shares of the software’s stock after acquiring an additional 107 shares during the quarter. NBT Bank N A NY’s holdings in Altair Engineering were worth $27,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of ALTR. UMB Bank n.a. increased its position in Altair Engineering by 77.0% during the fourth quarter. UMB Bank n.a. now owns 285 shares of the software’s stock worth $31,000 after acquiring an additional 124 shares during the period. GAMMA Investing LLC increased 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 during the period. Blue Trust Inc. increased its holdings in Altair Engineering by 185.5% in the 4th quarter. Blue Trust Inc. now owns 825 shares of the software’s stock valued at $90,000 after buying an additional 536 shares during the period. Van ECK Associates Corp increased its holdings in Altair Engineering by 28.5% in the 3rd quarter. Van ECK Associates Corp now owns 1,358 shares of the software’s stock valued at $130,000 after buying an additional 301 shares during the period. Finally, KBC Group NV increased its holdings in Altair Engineering by 17.9% in the 3rd quarter. KBC Group NV now owns 1,640 shares of the software’s stock valued at $157,000 after buying an additional 249 shares during the period. 63.38% of the stock is owned by institutional investors.

Altair Engineering Trading Up 0.2 %

Shares of Altair Engineering stock opened at $111.34 on Wednesday. The firm has a market capitalization of $9.55 billion, a PE ratio of 654.94, a price-to-earnings-growth ratio of 10.75 and a beta of 1.45. The firm’s 50 day moving average is $110.66 and its 200 day moving average is $103.49. Altair Engineering Inc. has a 1 year low of $75.71 and a 1 year high of $113.12.

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

Insider Buying and Selling

In related news, CFO Matthew Charles Brown sold 1,048 shares of Altair Engineering stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $108.90, for a total transaction of $114,127.20. Following the sale, the chief financial officer now directly owns 55,519 shares in the company, valued at $6,046,019.10. This trade represents a 1.85 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Teresa A. Harris sold 450 shares of Altair Engineering stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $111.08, for a total transaction of $49,986.00. Following the sale, the director now owns 18,092 shares in the company, valued at approximately $2,009,659.36. This represents a 2.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 10,805 shares of company stock worth $1,202,184 in the last ninety days. Company insiders own 21.75% of the company’s stock.

Wall Street Analyst Weigh In

ALTR has been the topic of several recent analyst reports. Rosenblatt Securities reissued a “neutral” rating and issued a $113.00 target price on shares of Altair Engineering in a report on Monday, February 24th. Needham & Company LLC reissued a “hold” rating on shares of Altair Engineering in a report on Friday, February 21st. One equities research analyst has rated the stock with a sell rating and seven have issued a hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $100.83.

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.