Arrowstreet Capital Limited Partnership Has $257.57 Million Position in Red Hat Inc (RHT)

Arrowstreet Capital Limited Partnership boosted its stake in Red Hat Inc (NYSE:RHT) by 13.8% in the fourth quarter, Holdings Channel reports. The institutional investor owned 2,144,600 shares of the open-source software company’s stock after buying an additional 260,513 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Red Hat were worth $257,566,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Centaurus Financial Inc. purchased a new stake in Red Hat in the 4th quarter valued at $528,000. UBS Asset Management Americas Inc. raised its position in Red Hat by 1.6% in the 4th quarter. UBS Asset Management Americas Inc. now owns 697,492 shares of the open-source software company’s stock valued at $83,769,000 after buying an additional 10,699 shares during the last quarter. Schroder Investment Management Group raised its position in Red Hat by 9.6% in the 4th quarter. Schroder Investment Management Group now owns 47,414 shares of the open-source software company’s stock valued at $5,694,000 after buying an additional 4,156 shares during the last quarter. Advanced Asset Management Advisors Inc purchased a new stake in Red Hat in the 4th quarter valued at $841,000. Finally, Rhumbline Advisers raised its position in Red Hat by 1.5% in the 4th quarter. Rhumbline Advisers now owns 339,975 shares of the open-source software company’s stock valued at $40,831,000 after buying an additional 5,044 shares during the last quarter. 94.77% of the stock is owned by institutional investors and hedge funds.

In other Red Hat news, CEO James M. Whitehurst sold 5,593 shares of the firm’s stock in a transaction dated Wednesday, January 17th. The stock was sold at an average price of $124.87, for a total value of $698,397.91. Following the completion of the transaction, the chief executive officer now owns 373,506 shares in the company, valued at approximately $46,639,694.22. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Delisa Alexander sold 1,393 shares of the firm’s stock in a transaction dated Wednesday, January 17th. The stock was sold at an average price of $124.87, for a total value of $173,943.91. Following the completion of the transaction, the executive vice president now owns 36,420 shares of the company’s stock, valued at approximately $4,547,765.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 14,686 shares of company stock valued at $1,873,342. 0.66% of the stock is owned by corporate insiders.

Shares of Red Hat Inc (NYSE RHT) opened at $142.71 on Monday. Red Hat Inc has a twelve month low of $80.93 and a twelve month high of $143.67. The firm has a market capitalization of $25,260.00, a PE ratio of 77.56, a P/E/G ratio of 4.36 and a beta of 1.23. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.53.

Red Hat (NYSE:RHT) last announced its quarterly earnings data on Tuesday, December 19th. The open-source software company reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.03. Red Hat had a return on equity of 26.23% and a net margin of 12.14%. The company had revenue of $747.98 million during the quarter, compared to analyst estimates of $734.69 million. During the same quarter last year, the firm posted $0.61 EPS. The firm’s revenue for the quarter was up 21.6% on a year-over-year basis. analysts forecast that Red Hat Inc will post 2.08 earnings per share for the current year.

RHT has been the subject of a number of analyst reports. Zacks Investment Research lowered Red Hat from a “buy” rating to a “hold” rating in a research report on Wednesday, December 27th. Bank of America reaffirmed an “underperform” rating and set a $115.00 target price on shares of Red Hat in a research report on Tuesday, October 24th. Citigroup reaffirmed a “buy” rating and set a $148.00 target price on shares of Red Hat in a research report on Wednesday, December 13th. BMO Capital Markets raised their target price on Red Hat from $128.00 to $142.00 and gave the company a “market perform” rating in a research report on Wednesday, December 20th. Finally, Nomura began coverage on Red Hat in a research report on Tuesday, January 23rd. They set a “buy” rating and a $152.00 target price for the company. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and twenty-three have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $126.65.

WARNING: This report was published by The Ledger Gazette and is owned by of The Ledger Gazette. If you are reading this report on another domain, it was illegally copied and reposted in violation of U.S. and international copyright and trademark law. The legal version of this report can be read at https://ledgergazette.com/2018/02/19/arrowstreet-capital-limited-partnership-has-257-57-million-position-in-red-hat-inc-rht.html.

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

Leave a Reply