Chicago Equity Partners LLC increased its position in Red Hat Inc. (NYSE:RHT) by 16.8% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 25,525 shares of the open-source software company’s stock after buying an additional 3,680 shares during the period. Chicago Equity Partners LLC’s holdings in Red Hat were worth $1,853,000 at the end of the most recent quarter.
Other hedge funds also recently bought and sold shares of the company. Hills Bank & Trust Co. bought a new stake in Red Hat during the second quarter worth about $222,000. Creative Planning boosted its stake in Red Hat by 4.5% in the second quarter. Creative Planning now owns 4,019 shares of the open-source software company’s stock worth $292,000 after buying an additional 174 shares in the last quarter. YHB Investment Advisors Inc. bought a new stake in Red Hat during the second quarter worth about $302,000. Capital One National Association bought a new stake in Red Hat during the second quarter worth about $317,000. Finally, Lucus Advisors LLC boosted its stake in Red Hat by 22.0% in the second quarter. Lucus Advisors LLC now owns 4,701 shares of the open-source software company’s stock worth $341,000 after buying an additional 848 shares in the last quarter. Institutional investors own 94.83% of the company’s stock.
Red Hat Inc. (NYSE:RHT) traded up 1.72% on Tuesday, reaching $77.50. 1,194,756 shares of the company’s stock traded hands. The firm’s 50 day moving average price is $76.38 and its 200 day moving average price is $74.95. Red Hat Inc. has a 12 month low of $59.59 and a 12 month high of $84.44. The company has a market cap of $13.92 billion, a PE ratio of 65.18 and a beta of 1.52.
Red Hat (NYSE:RHT) last issued its earnings results on Wednesday, September 21st. The open-source software company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.01. Red Hat had a net margin of 9.84% and a return on equity of 18.93%. The firm had revenue of $599.80 million for the quarter. During the same quarter in the prior year, the business posted $0.47 EPS. The firm’s revenue for the quarter was up 19.0% on a year-over-year basis. On average, equities analysts expect that Red Hat Inc. will post $2.24 EPS for the current fiscal year.
A number of research firms have recently issued reports on RHT. Robert W. Baird restated a “buy” rating on shares of Red Hat in a research note on Thursday, June 23rd. Raymond James Financial Inc. restated a “buy” rating on shares of Red Hat in a research note on Thursday, June 23rd. Oppenheimer Holdings Inc. set a $88.00 price objective on shares of Red Hat and gave the stock a “buy” rating in a research note on Thursday, September 22nd. Mizuho reiterated a “buy” rating and issued a $88.00 price objective on shares of Red Hat in a research note on Thursday, June 23rd. Finally, Stifel Nicolaus reiterated a “buy” rating on shares of Red Hat in a research note on Thursday, June 23rd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-five have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $89.33.
In other news, EVP Michael Cunningham sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 26th. The shares were sold at an average price of $75.00, for a total value of $750,000.00. Following the transaction, the executive vice president now owns 52,484 shares in the company, valued at $3,936,300. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director General Henry Hugh Shelton sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, September 30th. The stock was sold at an average price of $80.70, for a total transaction of $1,210,500.00. Following the completion of the transaction, the director now owns 9,026 shares in the company, valued at approximately $728,398.20. The disclosure for this sale can be found here. 0.76% of the stock is currently owned by insiders.
About Red Hat
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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