Altair Engineering (ALTR) Posted Better-Than-Expected Results in Q1

Soumya Eswaran
2 min read
0
In this article:

Harding Loevner, an asset management company, released its “Global Small Companies Equity Strategy” first-quarter 2023 investor letter. A copy of the same can be downloaded here. Global small-cap stocks rose in the quarter despite failures in the banking sector.  In the first quarter, the strategy returned 4.64% net of fees compared to a 4.37% return for the MSCI All Country World Small Cap Index. The strategy benefitted from positive stock selection and sector and regional allocation. In addition, please check the fund’s top five holdings to know its best picks in 2023.

HL Global Small Companies Equity Strategy highlighted stocks like Altair Engineering Inc. (NASDAQ:ALTR) in the first quarter 2023 investor letter. Altair Engineering Inc. (NASDAQ:ALTR) is a software and cloud solutions provider headquartered in Troy, Michigan. On June 12, 2023, Altair Engineering Inc. (NASDAQ:ALTR) stock closed at $76.40 per share. One-month return of Altair Engineering Inc. (NASDAQ:ALTR) was 12.44%, and its shares gained 54.75% of their value over the last 52 weeks. Altair Engineering Inc. (NASDAQ:ALTR) has a market capitalization of $6.166 billion.

HL Global Small Companies Equity Strategy made the following comment about Altair Engineering Inc. (NASDAQ:ALTR) in its first quarter 2023 investor letter:

"IT was our top sector, led by software and services, in which the portfolio has a large active weight. US design-software company Altair Engineering Inc. (NASDAQ:ALTR) reported earnings that were better than expected and offered a rosy outlook for the year due to robust demand from customers in the electric-vehicle market."

Top 10 High Growth Stocks To Buy abstract, background, blue, blur, blurred, blurry, bokeh, building, business, businessman, cell phone, cellphone, chart, city, cloud, cloud computing, computer, computing, concept, defocus, display, filter, filtered, flow, graphic, hand, icon, illustration, internet, laptop, light, mail, media, men, mobile, network, networking, night, pc, people, phone, point, pointing, positive, shiny, smart phone, tablet, tech, technology, touch

Copyright: melpomen / 123RF Stock Photo

Altair Engineering Inc. (NASDAQ:ALTR) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 21 hedge fund portfolios held Altair Engineering Inc. (NASDAQ:ALTR) at the end of first quarter 2023 which was 19 in the previous quarter.

We discussed Altair Engineering Inc. (NASDAQ:ALTR) in another article and shared Conestoga Small Cap Strategy's views on the company. In addition, please check out our hedge fund investor letters Q1 2023 page for more investor letters from hedge funds and other leading investors.

 

Suggested Articles:

Disclosure: None. This article is originally published at Insider Monkey.

Advertisement

Recommended Stories