Altair Engineering Inc (NASDAQ:ALTR) Insider Sells $84,875.00 in Stock
Altair Engineering Inc (NASDAQ:ALTR) insider Martin E. Nichols sold 2,500 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $33.95, for a total transaction of $84,875.00. The transaction was disclosed in a filing with the SEC, which is available at this link.
NASDAQ:ALTR traded up $0.35 during midday trading on Monday, reaching $35.24. 5,153 shares of the stock traded hands, compared to its average volume of 491,188. The company has a fifty day moving average of $40.44 and a 200 day moving average of $37.53. Altair Engineering Inc has a 12 month low of $25.28 and a 12 month high of $43.99. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.06 and a current ratio of 2.58. The stock has a market capitalization of $2.50 billion, a P/E ratio of 94.95 and a beta of 1.40.
Altair Engineering (NASDAQ:ALTR) last issued its quarterly earnings data on Thursday, August 8th. The software reported $0.06 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.04 by $0.02. The business had revenue of $106.80 million for the quarter, compared to the consensus estimate of $108.69 million. Altair Engineering had a net margin of 1.48% and a return on equity of 9.71%. The company’s quarterly revenue was up 13.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.05 EPS. On average, analysts predict that Altair Engineering Inc will post 0.49 EPS for the current fiscal year.
A number of institutional investors have recently modified their holdings of ALTR. Captrust Financial Advisors purchased a new position in Altair Engineering during the 2nd quarter valued at $39,000. Advisor Group Inc. increased its position in Altair Engineering by 63.7% during the 2nd quarter. Advisor Group Inc. now owns 1,020 shares of the software’s stock valued at $41,000 after purchasing an additional 397 shares during the period. Hilton Capital Management LLC purchased a new position in Altair Engineering during the 1st quarter valued at $50,000. Tower Research Capital LLC TRC increased its position in Altair Engineering by 116.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,751 shares of the software’s stock valued at $71,000 after purchasing an additional 942 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in Altair Engineering during the 2nd quarter valued at $73,000. 45.84% of the stock is currently owned by institutional investors and hedge funds.
About Altair Engineering
Altair Engineering Inc, together with its subsidiaries, provides software and cloud solutions worldwide. The company operates through two segments, Software and Client Engineering Services. Its integrated suite of multi-disciplinary computer aided engineering software optimizes design performance across various disciplines, including structures, motion, fluids, thermal management, electromagnetics, system modeling and embedded systems.
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