Jrs Investments Llc Sells 5,000 Shares of Altair Engineering Inc. (NASDAQ:ALTR) Stock

Posted by Defense World Staff on May 19th, 2023

Altair Engineering Inc. (NASDAQ:ALTR – Get Rating) major shareholder Jrs Investments Llc sold 5,000 shares of the business’s stock in a transaction dated Tuesday, May 16th. The stock was sold at an average price of $67.94, for a total transaction of $339,700.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Jrs Investments Llc also recently made the following trade(s):

On Monday, April 17th, Jrs Investments Llc sold 5,000 shares of Altair Engineering stock. The shares were sold at an average price of $70.33, for a total transaction of $351,650.00.
On Wednesday, March 15th, Jrs Investments Llc sold 15,000 shares of Altair Engineering stock. The shares were sold at an average price of $66.16, for a total transaction of $992,400.00.

Altair Engineering Stock Up 2.0 %

Shares of NASDAQ ALTR opened at $69.82 on Friday. The stock has a market capitalization of $5.63 billion, a P/E ratio of -95.64, a P/E/G ratio of 22.35 and a beta of 1.50. The company has a 50-day moving average price of $69.15 and a 200-day moving average price of $57.55. Altair Engineering Inc. has a 1 year low of $43.17 and a 1 year high of $72.66. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.83 and a quick ratio of 1.83.

Altair Engineering (NASDAQ:ALTR – Get Rating) last released its quarterly earnings results on Thursday, February 23rd. The software reported $0.14 earnings per share for the quarter. Altair Engineering had a negative net margin of 9.84% and a negative return on equity of 0.23%. The business had revenue of $160.43 million for the quarter, compared to analysts’ expectations of $146.01 million. On average, equities research analysts forecast that Altair Engineering Inc. will post 0.25 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Needham & Company LLC upped their price target on shares of Altair Engineering from $70.00 to $77.00 in a research report on Monday, May 8th. Oppenheimer upped their price target on shares of Altair Engineering from $60.00 to $65.00 and gave the company an “outperform” rating in a research report on Friday, February 24th. Rosenblatt Securities increased their price objective on shares of Altair Engineering from $63.00 to $67.00 and gave the stock a “buy” rating in a research report on Friday, February 24th. TheStreet upgraded shares of Altair Engineering from a “d+” rating to a “c” rating in a research report on Friday, February 24th. Finally, The Goldman Sachs Group upgraded shares of Altair Engineering from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $44.00 to $67.00 in a research report on Friday, May 5th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $71.17.

Institutional Trading of Altair Engineering

Hedge funds and other institutional investors have recently bought and sold shares of the company. Quadrature Capital Ltd bought a new position in shares of Altair Engineering in the 3rd quarter worth $425,000. Fisher Asset Management LLC bought a new position in shares of Altair Engineering in the 4th quarter worth $2,733,000. ARK Investment Management LLC increased its holdings in shares of Altair Engineering by 1.2% in the 4th quarter. ARK Investment Management LLC now owns 140,201 shares of the software’s stock worth $6,375,000 after buying an additional 1,663 shares during the last quarter. Impax Asset Management Group plc increased its holdings in shares of Altair Engineering by 14.8% in the 3rd quarter. Impax Asset Management Group plc now owns 2,429,397 shares of the software’s stock worth $106,842,000 after buying an additional 312,662 shares during the last quarter. Finally, Great West Life Assurance Co. Can bought a new position in shares of Altair Engineering in the 3rd quarter worth $422,000. Institutional investors own 61.66% of the company’s stock.

About Altair Engineering

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Altair Engineering, Inc engages in the provision of software and cloud solutions for product design & development, high performance cloud computing, and data intelligence. It operates through the following segments: Software and Client Engineering Services. The Software segment includes a portfolio of software products, as well as solvers and optimization technology products, modelling and visualization tools.