Bright Rock Capital Management LLC decreased its position in Red Hat Inc (NYSE:RHT) by 10.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 23,000 shares of the open-source software company’s stock after selling 2,800 shares during the quarter. Bright Rock Capital Management LLC’s holdings in Red Hat were worth $2,762,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in RHT. D.A. Davidson & CO. lifted its position in Red Hat by 6.8% during the second quarter. D.A. Davidson & CO. now owns 1,071 shares of the open-source software company’s stock valued at $102,000 after purchasing an additional 68 shares during the period. Clear Perspective Advisors LLC purchased a new stake in Red Hat during the second quarter valued at approximately $112,000. Sun Life Financial INC increased its holdings in Red Hat by 14,837.5% during the second quarter. Sun Life Financial INC now owns 1,195 shares of the open-source software company’s stock valued at $114,000 after buying an additional 1,187 shares during the last quarter. BB&T Investment Services Inc. purchased a new stake in Red Hat during the second quarter valued at approximately $135,000. Finally, Zions Bancorporation purchased a new stake in Red Hat during the third quarter valued at approximately $164,000. Institutional investors own 94.32% of the company’s stock.
Shares of Red Hat Inc (NYSE:RHT) traded up $2.01 during midday trading on Thursday, reaching $126.60. 1,081,300 shares of the company traded hands, compared to its average volume of 1,566,691. The stock has a market cap of $22,220.00, a price-to-earnings ratio of 68.80, a PEG ratio of 3.80 and a beta of 1.19. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.37 and a current ratio of 1.37. Red Hat Inc has a 12 month low of $72.78 and a 12 month high of $130.93.
Red Hat (NYSE:RHT) last released its earnings results on Tuesday, December 19th. The open-source software company reported $0.73 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.70 by $0.03. Red Hat had a net margin of 12.14% and a return on equity of 26.23%. The business had revenue of $747.98 million during the quarter, compared to analyst estimates of $734.69 million. During the same quarter in the prior year, the firm earned $0.61 earnings per share. The company’s revenue for the quarter was up 21.6% compared to the same quarter last year. research analysts predict that Red Hat Inc will post 2.08 EPS for the current fiscal year.
A number of brokerages have recently issued reports on RHT. Robert W. Baird reissued a “hold” rating on shares of Red Hat in a research note on Tuesday, September 26th. BTIG Research reaffirmed a “buy” rating and set a $120.00 target price on shares of Red Hat in a research note on Wednesday, September 27th. BMO Capital Markets reiterated a “market perform” rating and set a $128.00 price objective (up previously from $107.00) on shares of Red Hat in a research report on Tuesday, September 26th. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $117.00 price objective (up previously from $110.00) on shares of Red Hat in a research report on Tuesday, September 26th. Finally, Barclays increased their price objective on shares of Red Hat from $120.00 to $122.00 and gave the company an “overweight” rating in a research report on Tuesday, September 26th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and twenty-two have assigned a buy rating to the company. Red Hat has a consensus rating of “Buy” and a consensus price target of $124.25.
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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.
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