Candriam S.C.A. Trims Stock Holdings in Altair Engineering Inc. (NASDAQ:ALTR)

Candriam S.C.A. trimmed its holdings in Altair Engineering Inc. (NASDAQ:ALTR) by 12.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 614,335 shares of the software’s stock after selling 86,363 shares during the quarter. Candriam S.C.A. owned approximately 0.72% of Altair Engineering worth $67,030,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. UMB Bank n.a. increased its holdings in Altair Engineering by 77.0% during the 4th quarter. UMB Bank n.a. now owns 285 shares of the software’s stock worth $31,000 after purchasing an additional 124 shares during the period. GAMMA Investing LLC lifted its position in Altair Engineering by 14.6% during the 4th quarter. GAMMA Investing LLC now owns 729 shares of the software’s stock worth $80,000 after acquiring an additional 93 shares during the period. Blue Trust Inc. raised its stake in shares of Altair Engineering by 185.5% during 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 last quarter. Van ECK Associates Corp raised its stake in shares of Altair Engineering by 28.5% during 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 last quarter. Finally, KBC Group NV raised its stake in shares of Altair Engineering by 17.9% during 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 last quarter. 63.38% of the stock is currently owned by hedge funds and other institutional investors.

Altair Engineering Stock Down 0.0 %

Shares of ALTR opened at $111.32 on Thursday. The firm has a market cap of $9.55 billion, a PE ratio of 654.82, a price-to-earnings-growth ratio of 10.75 and a beta of 1.45. The company’s fifty day moving average is $110.49 and its two-hundred day moving average is $102.79. Altair Engineering Inc. has a fifty-two week low of $75.71 and a fifty-two week high of $113.12.

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

Wall Street Analyst Weigh In

ALTR has been the subject of several recent analyst reports. Needham & Company LLC restated a “hold” rating on shares of Altair Engineering in a research note on Friday, February 21st. Rosenblatt Securities reiterated a “neutral” rating and set a $113.00 price objective on shares of Altair Engineering in a research note on Monday, February 24th. One investment analyst has rated the stock with a sell rating and seven have issued a hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $100.83.

Insider Activity at Altair Engineering

In other news, CRO Nelson Dias sold 22,500 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $106.23, for a total transaction of $2,390,175.00. Following the completion of the transaction, the executive now directly owns 48,437 shares of the company’s stock, valued at approximately $5,145,462.51. This trade represents a 31.72 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CMO Amy Messano sold 235 shares of Altair Engineering stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $111.53, for a total transaction of $26,209.55. Following the transaction, the chief marketing officer now directly owns 23,651 shares of the company’s stock, valued at $2,637,796.03. This represents a 0.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 32,855 shares of company stock worth $3,542,373. 21.75% of the stock is owned by corporate insiders.

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.