Should You Invest in Altair Engineering (ALTR)?

Mairs & Power, an investment advisor, released “Mairs & Power Small Cap Fund” second quarter 2023 investor letter. A copy of the same can be downloaded here. The Mairs & Power Small Cap Fund has gained 6.43% for year-to-date 2023, while the S&P Small Cap 600 TR benchmark has gained 6.03% and the Morningstar U.S. Fund Small Blend has gained 7.42% for the same period. In addition, please check the fund’s top five holdings to know its best picks in 2023.

Mairs & Power Small Cap Fund highlighted stocks like Altair Engineering Inc. (NASDAQ:ALTR) in the second quarter 2023 investor letter. Altair Engineering Inc. (NASDAQ:ALTR) is a software and cloud solutions provider headquartered in Troy, Michigan. On August 24, 2023, Altair Engineering Inc. (NASDAQ:ALTR) stock closed at $62.91 per share. One-month return of Altair Engineering Inc. (NASDAQ:ALTR) was -14.05%, and its shares gained 13.60% of their value over the last 52 weeks. Altair Engineering Inc. (NASDAQ:ALTR) has a market capitalization of $5.111 billion.

Mairs & Power Small Cap Fund made the following comment about Altair Engineering Inc. (NASDAQ:ALTR) in its second quarter 2023 investor letter:

"Looking at individual stocks, year-to-date relative outperformance came from Altair Engineering Inc. (NASDAQ:ALTR) in Technology, a provider of software used in design, simulation, and data analysis that is showing growth and margin expansion as their software helps companies accelerate product development while reducing labor and materials costs."

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Altair Engineering Inc. (NASDAQ:ALTR) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 16 hedge fund portfolios held Altair Engineering Inc. (NASDAQ:ALTR) at the end of second quarter which was 21 in the previous quarter.

We discussed Altair Engineering Inc. (NASDAQ:ALTR) in another article and shared Mairs & Power Small Cap Fund’s views on the company in the previous quarter. In addition, please check out our hedge fund investor letters Q2 2023 page for more investor letters from hedge funds and other leading investors.

 

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