Altair Engineering Inc (NASDAQ: ALTR) is 24.00% higher on its value in year-to-date trading and has touched a low of $68.87 and a high of $113.12 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The ALTR stock was last observed hovering at around $104.37 in the last trading session, with the day’s loss setting it -0.02%.
Currently trading at $104.35, the stock is -0.09% and 5.56% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 0.92 million and changing -0.02% at the moment leaves the stock 14.90% off its SMA200. ALTR registered 44.07% gain for a year compared to 6-month gain of 14.97%. The firm has a 50-day simple moving average (SMA 50) of $98.489 and a 200-day simple moving average (SMA200) of $90.7427.
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The stock witnessed a -2.16% loss in the last 1 month and extending the period to 3 months gives it a 15.42%, and is 0.61% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 0.47% over the week and 1.58% over the month.
Altair Engineering Inc (ALTR) has around 3200 employees, a market worth around $8.89B and $644.66M in sales. Current P/E ratio is 277.75 and Fwd P/E is 73.59. Profit margin for the company is 5.10%. Distance from 52-week low is 51.52% and -7.75% from its 52-week high. The company has generated returns on investments over the last 12 months (3.02%).
The EPS is expected to grow by 16.38% this year
363.0 institutions hold shares in Altair Engineering Inc (ALTR), with institutional investors hold 112.27% of the company’s shares. The shares outstanding are 85.18M, and float is at 58.65M with Short Float at 7.64%. Institutions hold 109.70% of the Float.
The top institutional shareholder in the company is MATRIX CAPITAL MANAGEMENT COMPANY, LP with over 12.43 million shares valued at $1.22 billion. The investor’s holdings represent 15.0508 of the ALTR Shares outstanding. As of 2024-06-30, the second largest holder is BLACKROCK INC. with 7.88 million shares valued at $772.59 million to account for 9.538 of the shares outstanding. The other top investors are VANGUARD GROUP INC which holds 6.3 million shares representing 7.6295 and valued at over $618.0 million, while CONESTOGA CAPITAL ADVISORS, LLC holds 3.0133 of the shares totaling 2.49 million with a market value of $244.08 million.
Altair Engineering Inc (ALTR) Insider Activity
The most recent transaction is an insider sale by Kunju Ravi, the company’s Chief Product Strategy Officer. SEC filings show that Kunju Ravi sold 360 shares of the company’s common stock on Nov 11 ’24 at a price of $103.65 per share for a total of $37314.0. Following the sale, the insider now owns 30305.0 shares.
Still, SEC filings show that on Nov 05 ’24, Marraccini Jeffrey (See Remarks) disposed off 1,824 shares at an average price of $104.10 for $0.19 million. The insider now directly holds 4,680 shares of Altair Engineering Inc (ALTR).
