Seven Eight Capital LP Has $6.32 Million Position in Red Hat, Inc. (RHT)

Seven Eight Capital LP boosted its position in Red Hat, Inc. (NYSE:RHT) by 22.7% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 66,000 shares of the open-source software company’s stock after buying an additional 12,200 shares during the period. Red Hat makes up about 0.9% of Seven Eight Capital LP’s holdings, making the stock its 16th biggest position. Seven Eight Capital LP’s holdings in Red Hat were worth $6,320,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Shine Investment Advisory Services Inc. purchased a new stake in shares of Red Hat during the 2nd quarter worth $117,000. State of Alaska Department of Revenue purchased a new stake in shares of Red Hat during the 2nd quarter worth $122,000. Bronfman E.L. Rothschild L.P. boosted its position in shares of Red Hat by 1.4% during the 1st quarter. Bronfman E.L. Rothschild L.P. now owns 1,521 shares of the open-source software company’s stock worth $132,000 after purchasing an additional 21 shares in the last quarter. Global X Management Co. LLC boosted its position in shares of Red Hat by 91.3% during the 2nd quarter. Global X Management Co. LLC now owns 1,542 shares of the open-source software company’s stock worth $148,000 after purchasing an additional 736 shares in the last quarter. Finally, Point72 Asia Hong Kong Ltd purchased a new stake in shares of Red Hat during the 1st quarter worth $170,000. Hedge funds and other institutional investors own 94.21% of the company’s stock.

WARNING: “Seven Eight Capital LP Has $6.32 Million Position in Red Hat, Inc. (RHT)” was originally posted by Ticker Report and is the sole property of of Ticker Report. If you are reading this piece on another domain, it was stolen and reposted in violation of US and international trademark and copyright laws. The original version of this piece can be read at https://www.tickerreport.com/banking-finance/2886771/seven-eight-capital-lp-has-6-32-million-position-in-red-hat-inc-rht.html.

Several brokerages have commented on RHT. Robert W. Baird boosted their target price on shares of Red Hat from $90.00 to $100.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 21st. Mizuho decreased their target price on shares of Red Hat from $109.00 to $96.00 and set a “buy” rating on the stock in a research report on Wednesday, June 21st. Morgan Stanley reiterated an “equal weight” rating and issued a $98.00 price objective (up from $90.00) on shares of Red Hat in a research report on Wednesday, June 21st. BTIG Research decreased their price objective on shares of Red Hat from $120.00 to $95.00 and set a “buy” rating on the stock in a research report on Wednesday, June 21st. Finally, Jefferies Group LLC reiterated a “hold” rating on shares of Red Hat in a research report on Thursday, June 22nd. Eleven analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. Red Hat presently has a consensus rating of “Buy” and a consensus price target of $99.80.

In other Red Hat news, CEO James M. Whitehurst sold 12,000 shares of Red Hat stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $95.70, for a total value of $1,148,400.00. Following the completion of the transaction, the chief executive officer now owns 422,873 shares in the company, valued at approximately $40,468,946.10. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Delisa Alexander sold 2,444 shares of Red Hat stock in a transaction on Tuesday, July 18th. The shares were sold at an average price of $98.25, for a total value of $240,123.00. Following the completion of the transaction, the executive vice president now owns 41,570 shares of the company’s stock, valued at approximately $4,084,252.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 44,087 shares of company stock worth $4,265,012. 0.66% of the stock is owned by insiders.

Shares of Red Hat, Inc. (NYSE:RHT) traded down 0.36% during midday trading on Tuesday, reaching $107.23. The company’s stock had a trading volume of 402,441 shares. Red Hat, Inc. has a 52-week low of $68.54 and a 52-week high of $108.09. The stock has a 50 day moving average price of $101.88 and a 200-day moving average price of $92.11. The company has a market capitalization of $19.03 billion, a price-to-earnings ratio of 73.45 and a beta of 1.24.

Red Hat (NYSE:RHT) last announced its quarterly earnings results on Tuesday, June 20th. The open-source software company reported $0.56 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.03. The business had revenue of $677.00 million for the quarter, compared to analyst estimates of $647.42 million. Red Hat had a return on equity of 22.84% and a net margin of 10.54%. Red Hat’s quarterly revenue was up 19.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.50 EPS. Equities research analysts expect that Red Hat, Inc. will post $2.69 EPS for the current year.

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.

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.

Latest News

How to Trade on Forex – 8 Steps for Beginners
How to Trade on Forex – 8 Steps for Beginners
Super Nintendo World Theme Park Officially Starts Construction
Super Nintendo World Theme Park Officially Starts Construction
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Camera Zooms In and Can Recognize Faces
Camera Zooms In and Can Recognize Faces
Netflix Could See 150 Million Worldwide Subscribers
Netflix Could See 150 Million Worldwide Subscribers
LeEco Cutting Over 70% of Staff in U.S. Amidst Pull Back
LeEco Cutting Over 70% of Staff in U.S. Amidst Pull Back


Leave a Reply

© 2006-2017 Ticker Report. Google+.