James Dagg Sells 8,000 Shares of Altair Engineering Inc (NASDAQ:ALTR) Stock

Altair Engineering Inc (NASDAQ:ALTR) insider James Dagg sold 8,000 shares of the business’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $35.09, for a total value of $280,720.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

James Dagg also recently made the following trade(s):

  • On Monday, May 13th, James Dagg sold 100 shares of Altair Engineering stock. The stock was sold at an average price of $35.12, for a total value of $3,512.00.
  • On Thursday, April 11th, James Dagg sold 8,000 shares of Altair Engineering stock. The stock was sold at an average price of $36.70, for a total value of $293,600.00.

NASDAQ ALTR traded up $1.21 on Friday, reaching $36.96. The company had a trading volume of 23,240 shares, compared to its average volume of 529,261. The company has a market capitalization of $2.55 billion, a PE ratio of 99.76 and a beta of 1.52. The company has a current ratio of 1.09, a quick ratio of 1.06 and a debt-to-equity ratio of 0.12. Altair Engineering Inc has a 52 week low of $25.28 and a 52 week high of $43.99.

Altair Engineering (NASDAQ:ALTR) last released its quarterly earnings data on Thursday, May 9th. The software reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.04. The business had revenue of $127.86 million during the quarter, compared to the consensus estimate of $125.82 million. Altair Engineering had a return on equity of 11.56% and a net margin of 2.62%. The firm’s revenue was up 12.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.35 earnings per share. As a group, sell-side analysts predict that Altair Engineering Inc will post 0.52 earnings per share for the current fiscal year.

A number of equities research analysts have recently weighed in on the company. Zacks Investment Research upgraded Altair Engineering from a “hold” rating to a “buy” rating and set a $40.00 target price for the company in a research report on Monday, May 20th. ValuEngine downgraded Altair Engineering from a “buy” rating to a “hold” rating in a research report on Saturday, May 18th. Guggenheim assumed coverage on Altair Engineering in a research report on Tuesday, March 19th. They set a “neutral” rating and a $37.70 target price for the company. Finally, Needham & Company LLC boosted their target price on Altair Engineering from $40.00 to $42.00 and gave the stock a “buy” rating in a research report on Thursday, March 14th. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $39.81.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Marshall Wace North America L.P. increased its stake in Altair Engineering by 187.5% during the 1st quarter. Marshall Wace North America L.P. now owns 10,584 shares of the software’s stock worth $389,000 after acquiring an additional 6,902 shares during the period. Marshall Wace LLP increased its stake in Altair Engineering by 169.6% during the 1st quarter. Marshall Wace LLP now owns 17,096 shares of the software’s stock worth $629,000 after acquiring an additional 10,754 shares during the period. Lombard Odier Asset Management USA Corp bought a new position in Altair Engineering during the 1st quarter worth $2,209,000. Morgan Stanley increased its stake in Altair Engineering by 1.0% during the 1st quarter. Morgan Stanley now owns 70,805 shares of the software’s stock worth $2,606,000 after acquiring an additional 704 shares during the period. Finally, Man Group plc increased its stake in Altair Engineering by 20.1% during the 1st quarter. Man Group plc now owns 32,800 shares of the software’s stock worth $1,207,000 after acquiring an additional 5,500 shares during the period. Institutional investors and hedge funds own 38.76% of the company’s stock.

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About Altair Engineering

Altair Engineering Inc, together with its subsidiaries, provides software and cloud solutions worldwide. The company operates through two segments, Software and Client Engineering Services. Its integrated suite of multi-disciplinary computer aided engineering software optimizes design performance across various disciplines, including structures, motion, fluids, thermal management, electromagnetics, system modeling and embedded systems.

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