Advisor Group Inc. lessened its holdings in Red Hat Inc (NYSE:RHT) by 30.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,111 shares of the open-source software company’s stock after selling 2,618 shares during the quarter. Advisor Group Inc.’s holdings in Red Hat were worth $1,117,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in RHT. Athena Capital Advisors LLC bought a new stake in shares of Red Hat in the 4th quarter worth about $27,000. Berman Capital Advisors LLC bought a new stake in shares of Red Hat in the 4th quarter worth about $27,000. Liberty Wealth Management LLC bought a new stake in shares of Red Hat in the 4th quarter worth about $30,000. Lindbrook Capital LLC bought a new stake in shares of Red Hat in the 4th quarter worth about $47,000. Finally, Cornerstone Advisors Inc. grew its holdings in shares of Red Hat by 26.4% in the 1st quarter. Cornerstone Advisors Inc. now owns 297 shares of the open-source software company’s stock worth $54,000 after purchasing an additional 62 shares during the last quarter. 85.94% of the stock is currently owned by hedge funds and other institutional investors.
Separately, ValuEngine lowered shares of Red Hat from a “strong-buy” rating to a “buy” rating in a report on Monday, April 1st. Thirteen investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $168.33.
Shares of NYSE RHT opened at $185.04 on Thursday. The stock has a market cap of $32.92 billion, a P/E ratio of 66.32, a P/E/G ratio of 4.07 and a beta of 0.49. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.27 and a current ratio of 1.27. Red Hat Inc has a 12-month low of $115.31 and a 12-month high of $186.36.
Red Hat (NYSE:RHT) last issued its quarterly earnings results on Monday, March 25th. The open-source software company reported $1.16 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.01 by $0.15. The business had revenue of $879.00 million for the quarter, compared to the consensus estimate of $885.64 million. Red Hat had a net margin of 12.91% and a return on equity of 35.35%. The firm’s quarterly revenue was up 13.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.91 EPS. On average, sell-side analysts forecast that Red Hat Inc will post 3.04 earnings per share for the current fiscal year.
Red Hat Profile
Red Hat, Inc provides open source software solutions to develop and offer operating system, virtualization, management, middleware, cloud, mobile, and storage technologies to various enterprises worldwide. It offers infrastructure-related solutions, such as Red Hat Enterprise Linux, an operating system platform that runs on hardware for use in hybrid cloud environments; Red Hat Satellite, a system management offering that helps to deploy, scale, and manage in hybrid cloud environments; and Red Hat Enterprise Virtualization, a software solution that allows customers to utilize and manage a common hardware infrastructure to run multiple operating systems and applications.
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