Short Holding of Altair Engineering Inc. (NASDAQ:ALTR) Down 14.0%

Altair Engineering Inc. (NASDAQ:ALTR – Get Rating) saw a sharp drop in short interest in November. As of November 30, there were short sales totaling 2,090,000 shares, down 14.0% from the November 15 total of 2,430,000 shares. Based on an average daily volume of 350,600 shares, the days-to-cover ratio is currently 6.0 days.

Analysts set new price targets

Several analysts have issued reports on ALTR stocks. TheStreet downgraded shares of Altair Engineering from a “c-” rating to a “d+” rating in a research note on Monday, September 19. Needham & Company LLC began reporting on Altair Engineering stock in a research report on Wednesday, November 16th. They set a buy rating and a price target of $60.00 for the company. Finally, Rosenblatt Securities lowered its price target on Altair Engineering shares to $63.00 from $70.00 and issued a buy rating to the company in a research note on Monday, October 24. One equities research analyst has rated the stock with a sell rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $58.80.

Value for money from Altair Engineering

Altair Engineering stock opened at $44.97 on Friday. The company’s 50-day moving average price is $47.06 and its 200-day moving average price is $50.45. The company has a debt to equity ratio of 0.57, a quick ratio of 2.35 and a current ratio of 2.35. The stock has a market cap of $3.60 billion, a P/E of -60.77, a P/E of 197.88, and a beta of 1.48. Altair Engineering has a 1 year low of $43.17 and a 1 year high of $78.38.

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Altair Engineering (NASDAQ:ALTR – Get Rating) last announced its earnings results on Thursday, November 3rd. The software reported ($0.16) earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.03. The company had revenue of $119.35 million for the quarter, compared to the consensus estimate of $118.47 million. Altair Engineering had a negative return on equity of 0.13% and a negative net margin of 10.30%. As a group, equity analysts expect Altair Engineering to report earnings per share of 0.02 for the current fiscal year.

insider activity

In other news, CRO Nelson Dias sold 4,000 shares of the company’s shares in a transaction on Wednesday, November 23. The stock sold at an average price of $47.11 for a total value of $188,440.00. Upon closing of the transaction, the executive now owns 30,124 shares of the company, valued at approximately $1,419,141.64. The sale was disclosed in a filing with the Securities & Exchange Commission available at this hyperlink. Also on Tuesday, November 15, CEO James Ralph Scapa sold 57,915 shares of Altair Engineering in a transaction. The shares sold at an average price of $49.97 for a total transaction of $2,894,012.55. Following the transaction, the Chief Executive Officer now owns 103,224 shares of the Company, valued at $5,158,103.28. The sale was disclosed in a document filed with the SEC, which is available through the SEC’s website. In addition, CRO Nelson Dias sold 4,000 shares of the company’s shares in a transaction on Wednesday, November 23. The shares were sold at an average price of $47.11 for a total transaction of $188,440.00. Following the transaction, the executive now owns 30,124 shares of the company, valued at approximately $1,419,141.64. The disclosure for this sale can be found here. Insiders have sold a total of 62,278 shares of the company’s stock valued at $3,099,118 over the past 90 days. 22.65% of the shares are owned by company insiders.

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Institutional Trading by Altair Engineering

Several large investors have recently bought and sold shares of ALTR. Quadrant Capital Group LLC increased its stake in Altair Engineering by 750.8% during the second quarter. Quadrant Capital Group LLC now owns 553 shares of Software Stock valued at $29,000 after purchasing an additional 488 shares during the period. Ellevest Inc. increased its stake in Altair Engineering stock by 182.3% in the second quarter. Ellevest Inc. now owns 573 shares of the $30,000 software after purchasing an additional 370 shares last quarter. Meeder Asset Management Inc. purchased a new position in Altair Engineering stock valued at $41,000 during the first quarter. SeaCrest Wealth Management LLC acquired a $42,000 new equity interest in Altair Engineering during the second quarter. Finally, Castle Wealth Management LLC acquired a new position in Altair Engineering stock valued at approximately $53,000 during the second quarter. Institutional investors and hedge funds own 62.68% of the company’s shares.

Company Profile of Altair Engineering

(get rating)

Altair Engineering Inc, together with its subsidiaries, provides simulation, high-performance computing, data analysis and artificial intelligence software and cloud solutions worldwide. The Company operates through two segments, Software and Client Engineering Services. The Software segment includes solvers and optimization technology products, high-performance computing software applications and hardware products, modeling and visualization tools, data analysis and analysis products, and IoT platform and analysis tools, and support and the complementary software products.

See also

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