What Makes Altair Engineering (ALTR) an Attractive Investment?
Mairs & Power, an investment advisor, released “Mairs & Power Small Cap Fund” first quarter 2023 investor letter. A copy of the same can be downloaded here. In the first quarter, the fund was up 0.83% compared to a 2.57% return for the S&P Small Cap 600 TR benchmark and the Morningstar U.S. Fund Small Blend’s 3.17% return. 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 first quarter 2023 investor letter. Altair Engineering Inc. (NASDAQ:ALTR) is a software and cloud solutions provider headquartered in Troy, Michigan. On June 13, 2023, Altair Engineering Inc. (NASDAQ:ALTR) stock closed at $77.58 per share. One-month return of Altair Engineering Inc. (NASDAQ:ALTR) was 14.17%, and its shares gained 57.14% of their value over the last 52 weeks. Altair Engineering Inc. (NASDAQ:ALTR) has a market capitalization of $6.261 billion.
Mairs & Power Small Cap Fund made the following comment about Altair Engineering Inc. (NASDAQ:ALTR) in its first quarter 2023 investor letter:
"Partially offsetting these areas of relative underperformance, was strength from Altair Engineering Inc. (NASDAQ:ALTR), a Michigan-based 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."
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 Harding Loevner Global Small Companies Equity 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.
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Disclosure: None. This article is originally published at Insider Monkey.
