Impax Asset Management Group plc Cuts Holdings in Altair Engineering Inc. (NASDAQ:ALTR)

Impax Asset Management Group plc reduced its position in Altair Engineering Inc. (NASDAQ:ALTR) by 12.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,196,098 shares of the software’s stock after selling 164,123 shares during the period. Impax Asset Management Group plc owned 1.41% of Altair Engineering worth $129,534,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its holdings in shares of 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 in the last quarter. New York State Teachers Retirement System raised its stake in Altair Engineering by 1.2% during the third quarter. New York State Teachers Retirement System now owns 8,500 shares of the software’s stock valued at $812,000 after purchasing an additional 100 shares in the last quarter. Louisiana State Employees Retirement System lifted its position in Altair Engineering by 0.6% during the fourth quarter. Louisiana State Employees Retirement System now owns 16,600 shares of the software’s stock valued at $1,811,000 after purchasing an additional 100 shares during the last quarter. UMB Bank n.a. grew its stake in shares of Altair Engineering by 77.0% in the 4th quarter. UMB Bank n.a. now owns 285 shares of the software’s stock worth $31,000 after buying an additional 124 shares in the last quarter. Finally, Ballentine Partners LLC grew its stake in shares of Altair Engineering by 8.5% in the 3rd quarter. Ballentine Partners LLC now owns 2,236 shares of the software’s stock worth $214,000 after buying an additional 175 shares in the last quarter. 63.38% of the stock is owned by institutional investors.

Altair Engineering Price Performance

NASDAQ:ALTR opened at $111.78 on Monday. The company has a market cap of $9.51 billion, a price-to-earnings ratio of 657.53, a price-to-earnings-growth ratio of 10.75 and a beta of 1.42. Altair Engineering Inc. has a twelve month low of $75.71 and a twelve month high of $113.12. The company has a current ratio of 3.27, a quick ratio of 3.27 and a debt-to-equity ratio of 0.27. The stock has a fifty day simple moving average of $109.90 and a 200-day simple moving average of $101.65.

Altair Engineering (NASDAQ:ALTR) last posted its quarterly earnings results on Thursday, February 20th. The software reported $0.36 EPS 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 analysts’ expectations of $182.98 million. Altair Engineering had a return on equity of 8.23% and a net margin of 2.13%. Analysts anticipate that Altair Engineering Inc. will post 0.87 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on ALTR shares. Rosenblatt Securities increased their price target on shares of Altair Engineering from $88.00 to $113.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Royal Bank of Canada boosted their target price on Altair Engineering from $90.00 to $113.00 and gave the company a “sector perform” rating in a research report on Thursday, October 31st. Wolfe Research downgraded Altair Engineering from a “strong-buy” rating to a “hold” rating in a research report on Sunday, November 3rd. Needham & Company LLC reiterated a “hold” rating on shares of Altair Engineering in a research report on Friday. Finally, William Blair reissued a “market perform” rating on shares of Altair Engineering in a research note on Thursday, October 31st. One research analyst has rated the stock with a sell rating and seven have issued a hold rating to the company. According to MarketBeat.com, Altair Engineering currently has a consensus rating of “Hold” and an average target price of $100.83.

Insider Transactions at Altair Engineering

In other Altair Engineering news, CEO James Ralph Scapa sold 16,095 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $105.65, for a total transaction of $1,700,436.75. Following the transaction, the chief executive officer now directly owns 117,950 shares in the company, valued at $12,461,417.50. This trade represents a 12.01 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Matthew Charles Brown sold 1,048 shares of the company’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $108.90, for a total value of $114,127.20. Following the completion of the sale, the chief financial officer now 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. Over the last three months, insiders have sold 59,143 shares of company stock valued at $6,265,694. 21.75% of the stock is currently owned by company insiders.

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.