Caldwell & Orkin Inc. Invests $687,000 in Red Hat, Inc. (RHT) Stock

Caldwell & Orkin Inc. acquired a new stake in Red Hat, Inc. (NYSE:RHT) during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 6,200 shares of the open-source software company’s stock, valued at approximately $687,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in Red Hat by 2.8% in the 2nd quarter. Vanguard Group Inc. now owns 17,627,522 shares of the open-source software company’s stock valued at $1,687,836,000 after acquiring an additional 479,615 shares in the last quarter. FMR LLC lifted its holdings in shares of Red Hat by 10.8% during the 2nd quarter. FMR LLC now owns 11,165,642 shares of the open-source software company’s stock valued at $1,069,110,000 after buying an additional 1,085,953 shares during the period. Northern Trust Corp lifted its holdings in shares of Red Hat by 28.8% during the 2nd quarter. Northern Trust Corp now owns 3,794,946 shares of the open-source software company’s stock valued at $363,365,000 after buying an additional 848,777 shares during the period. TIAA CREF Investment Management LLC lifted its holdings in shares of Red Hat by 34.4% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 1,302,954 shares of the open-source software company’s stock valued at $124,758,000 after buying an additional 333,408 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in shares of Red Hat by 282.6% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,177,208 shares of the open-source software company’s stock valued at $112,718,000 after buying an additional 869,550 shares during the period. 95.42% of the stock is currently owned by institutional investors and hedge funds.

In other Red Hat news, CEO James M. Whitehurst sold 12,000 shares of the firm’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $111.15, for a total value of $1,333,800.00. Following the completion of the sale, the chief executive officer now owns 392,979 shares of the company’s stock, valued at $43,679,615.85. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Eugene Beukman sold 100,000 shares of the firm’s stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $0.73, for a total transaction of $73,000.00. In the last ninety days, insiders sold 234,172 shares of company stock valued at $4,072,377. 0.66% of the stock is owned by insiders.

TRADEMARK VIOLATION NOTICE: This report was posted by The Ledger Gazette and is owned by of The Ledger Gazette. If you are reading this report on another publication, it was illegally copied and reposted in violation of US and international trademark & copyright laws. The original version of this report can be viewed at https://ledgergazette.com/2017/11/16/caldwell-orkin-inc-invests-687000-in-red-hat-inc-rht-stock.html.

Several research firms have recently weighed in on RHT. Robert W. Baird reissued a “hold” rating on shares of Red Hat in a report on Tuesday, September 26th. BTIG Research reissued a “buy” rating and set a $120.00 price target on shares of Red Hat in a report on Wednesday, September 27th. Barclays PLC increased their price target on Red Hat from $120.00 to $122.00 and gave the company an “overweight” rating in a report on Tuesday, September 26th. BMO Capital Markets reissued a “market perform” rating and set a $128.00 price target (up from $107.00) on shares of Red Hat in a report on Tuesday, September 26th. Finally, J P Morgan Chase & Co reissued an “overweight” rating and set a $117.00 price target (up from $110.00) on shares of Red Hat in a report on Tuesday, September 26th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and twenty-four have given a buy rating to the company’s stock. Red Hat has an average rating of “Buy” and an average target price of $110.93.

Shares of Red Hat, Inc. (RHT) traded up $2.36 during trading hours on Thursday, hitting $126.18. 535,163 shares of the company were exchanged, compared to its average volume of 1,666,249. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.54. Red Hat, Inc. has a 1 year low of $68.54 and a 1 year high of $124.56. The company has a market cap of $22,280.00, a P/E ratio of 68.40, a price-to-earnings-growth ratio of 3.96 and a beta of 1.18.

Red Hat (NYSE:RHT) last announced its quarterly earnings results on Monday, September 25th. The open-source software company reported $0.77 EPS for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.10. Red Hat had a net margin of 11.49% and a return on equity of 25.27%. The firm had revenue of $723.60 million during the quarter, compared to the consensus estimate of $699.56 million. During the same quarter last year, the firm earned $0.55 EPS. The firm’s revenue for the quarter was up 20.6% compared to the same quarter last year. equities research analysts predict that Red Hat, Inc. will post 2 earnings per share for the current fiscal year.

Red Hat Profile

Red Hat, Inc (Red Hat) provides open source software solutions, using a community-powered approach to develop and offer operating system, virtualization, management, middleware, cloud, mobile and storage technologies. Red Hat operates through three geographical segments: the Americas, including the United States, Canada and Latin America; EMEA, including Europe, Middle East and Africa, and Asia Pacific.

Want to see what other hedge funds are holding RHT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Red Hat, Inc. (NYSE:RHT).

Institutional Ownership by Quarter for Red Hat (NYSE:RHT)

Receive News & Ratings for Red Hat Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Red Hat Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply