Lisanti Capital Growth LLC Invests $1.86 Million in Altair Engineering Inc. (NASDAQ:ALTR)

Lisanti Capital Growth LLC acquired a new stake in Altair Engineering Inc. (NASDAQ:ALTR) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 22,105 shares of the software’s stock, valued at approximately $1,860,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. McGlone Suttner Wealth Management Inc. purchased a new position in Altair Engineering in the 4th quarter worth approximately $31,000. Harvest Fund Management Co. Ltd raised its holdings in shares of Altair Engineering by 1,157.7% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 981 shares of the software’s stock worth $83,000 after acquiring an additional 903 shares during the period. Allspring Global Investments Holdings LLC boosted its position in shares of Altair Engineering by 10.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,991 shares of the software’s stock valued at $125,000 after acquiring an additional 190 shares during the last quarter. SG Americas Securities LLC grew its holdings in shares of Altair Engineering by 31.3% in the third quarter. SG Americas Securities LLC now owns 2,171 shares of the software’s stock valued at $136,000 after purchasing an additional 518 shares during the period. Finally, Legato Capital Management LLC acquired a new stake in Altair Engineering during the fourth quarter worth about $217,000. Hedge funds and other institutional investors own 63.38% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Needham & Company LLC restated a “buy” rating and set a $100.00 price target on shares of Altair Engineering in a report on Friday. JPMorgan Chase & Co. lifted their target price on Altair Engineering from $86.00 to $95.00 and gave the company an “overweight” rating in a research report on Tuesday, March 26th. Rosenblatt Securities reiterated a “neutral” rating and set a $88.00 price target on shares of Altair Engineering in a report on Monday, April 29th. Oppenheimer boosted their price objective on shares of Altair Engineering from $95.00 to $100.00 and gave the company an “outperform” rating in a report on Friday, February 23rd. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $90.00 target price on shares of Altair Engineering in a research note on Thursday, March 21st. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $94.60.

Insider Buying and Selling at Altair Engineering

In related news, major shareholder Jrs Investments Llc sold 5,000 shares of the business’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $91.07, for a total transaction of $455,350.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO James Ralph Scapa sold 10,000 shares of Altair Engineering stock in a transaction on Monday, March 18th. The shares were sold at an average price of $80.74, for a total transaction of $807,400.00. Following the completion of the sale, the chief executive officer now directly owns 139,605 shares of the company’s stock, valued at approximately $11,271,707.70. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Jrs Investments Llc sold 5,000 shares of the stock in a transaction on Friday, February 16th. The shares were sold at an average price of $91.07, for a total value of $455,350.00. The disclosure for this sale can be found here. Insiders sold 161,830 shares of company stock valued at $13,876,320 in the last 90 days. Company insiders own 21.75% of the company’s stock.

Altair Engineering Trading Up 3.7 %

Shares of ALTR stock traded up $3.07 on Tuesday, hitting $86.09. The stock had a trading volume of 500,372 shares, compared to its average volume of 413,246. The company’s 50 day moving average price is $83.17 and its 200-day moving average price is $79.63. Altair Engineering Inc. has a 1 year low of $57.59 and a 1 year high of $92.92. The firm has a market capitalization of $7.10 billion, a P/E ratio of 956.56, a P/E/G ratio of 10.86 and a beta of 1.42. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.46 and a quick ratio of 2.46.

Altair Engineering (NASDAQ:ALTR) last issued its quarterly earnings results on Thursday, May 2nd. The software reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.06. The business had revenue of $172.91 million for the quarter, compared to analysts’ expectations of $169.29 million. Altair Engineering had a net margin of 1.55% and a return on equity of 5.60%. The business’s quarterly revenue was up 4.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.13 earnings per share. Analysts anticipate that Altair Engineering Inc. will post 0.63 earnings per share for the current year.

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.