King Luther Capital Management Corp Has $17.28 Million Stock Holdings in Altair Engineering Inc. (NASDAQ:ALTR)

King Luther Capital Management Corp trimmed its stake in shares of Altair Engineering Inc. (NASDAQ:ALTR) by 9.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 158,402 shares of the software’s stock after selling 16,331 shares during the period. King Luther Capital Management Corp’s holdings in Altair Engineering were worth $17,283,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of ALTR. NBT Bank N A NY raised its holdings in Altair Engineering by 76.4% during the 4th quarter. NBT Bank N A NY now owns 247 shares of the software’s stock worth $27,000 after buying an additional 107 shares during the period. UMB Bank n.a. increased its position in shares of Altair Engineering by 77.0% in 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 in the last quarter. GAMMA Investing LLC raised its holdings in shares of Altair Engineering by 14.6% during the fourth quarter. GAMMA Investing LLC now owns 729 shares of the software’s stock valued at $80,000 after acquiring an additional 93 shares during the period. Blue Trust Inc. lifted its position in shares of 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 acquiring an additional 536 shares in the last quarter. Finally, Van ECK Associates Corp boosted its stake in Altair Engineering by 28.5% in the 3rd quarter. Van ECK Associates Corp now owns 1,358 shares of the software’s stock worth $130,000 after purchasing an additional 301 shares during the period. Institutional investors and hedge funds own 63.38% of the company’s stock.

Altair Engineering Stock Performance

Altair Engineering stock opened at $111.34 on Wednesday. Altair Engineering Inc. has a twelve month low of $75.71 and a twelve month high of $113.12. The firm has a market cap of $9.55 billion, a PE ratio of 654.94, a P/E/G ratio of 10.75 and a beta of 1.45. The firm’s 50 day moving average price is $110.66 and its two-hundred day moving average price is $103.49.

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

Insiders Place Their Bets

In other Altair Engineering news, CMO Amy Messano sold 235 shares of Altair Engineering stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $111.53, for a total value of $26,209.55. Following the completion of the sale, the chief marketing officer now directly owns 23,651 shares in the company, valued at $2,637,796.03. The trade was a 0.98 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Matthew Charles Brown sold 1,048 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $108.90, for a total transaction of $114,127.20. Following the completion of the sale, the chief financial officer now directly owns 55,519 shares of the company’s stock, valued at $6,046,019.10. This represents a 1.85 % 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 valued at $1,202,184 in the last three months. Insiders own 21.75% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on ALTR shares. Needham & Company LLC reissued 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 target on shares of Altair Engineering in a report on Monday, February 24th. One equities research analyst has rated the stock with a sell rating and seven have given a hold rating to the company. Based on data from MarketBeat.com, Altair Engineering has an average rating of “Hold” and an average price target of $100.83.

Altair Engineering 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.