Stevens Capital Management LP reduced its stake in Red Hat Inc (NYSE:RHT) by 55.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,114 shares of the open-source software company’s stock after selling 25,888 shares during the quarter. Stevens Capital Management LP’s holdings in Red Hat were worth $3,964,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of the company. Municipal Employees Retirement System of Michigan lifted its position in Red Hat by 2.5% during the second quarter. Municipal Employees Retirement System of Michigan now owns 2,450 shares of the open-source software company’s stock worth $460,000 after buying an additional 60 shares during the period. Cornerstone Advisors Inc. lifted its position in Red Hat by 26.4% during the first quarter. Cornerstone Advisors Inc. now owns 297 shares of the open-source software company’s stock worth $54,000 after buying an additional 62 shares during the period. 6 Meridian lifted its position in Red Hat by 2.3% during the second quarter. 6 Meridian now owns 2,767 shares of the open-source software company’s stock worth $520,000 after buying an additional 62 shares during the period. Glassman Wealth Services lifted its position in Red Hat by 58.0% during the first quarter. Glassman Wealth Services now owns 207 shares of the open-source software company’s stock worth $38,000 after buying an additional 76 shares during the period. Finally, Signaturefd LLC lifted its position in Red Hat by 10.8% during the second quarter. Signaturefd LLC now owns 808 shares of the open-source software company’s stock worth $152,000 after buying an additional 79 shares during the period. Institutional investors and hedge funds own 85.75% of the company’s stock.
NYSE RHT remained flat at $$187.71 during mid-day trading on Wednesday. The company’s stock had a trading volume of 999,351 shares, compared to its average volume of 1,591,676. Red Hat Inc has a 12-month low of $115.31 and a 12-month high of $189.14. The firm’s fifty day moving average price is $187.74. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.23 and a quick ratio of 1.23. The firm has a market capitalization of $33.43 billion, a PE ratio of 67.28, a P/E/G ratio of 3.98 and a beta of 0.45.
Red Hat (NYSE:RHT) last issued its quarterly earnings data on Thursday, June 20th. The open-source software company reported $1.00 earnings per share for the quarter, beating analysts’ consensus estimates of $0.86 by $0.14. Red Hat had a return on equity of 36.67% and a net margin of 13.26%. The firm had revenue of $934.10 million during the quarter, compared to analyst estimates of $931.58 million. During the same quarter last year, the firm earned $0.72 EPS. Red Hat’s quarterly revenue was up 14.8% on a year-over-year basis. Equities research analysts predict that Red Hat Inc will post 3.14 earnings per share for the current year.
Several equities analysts recently weighed in on the company. Robert W. Baird reiterated a “not rated” rating on shares of Red Hat in a research report on Thursday, July 11th. William Blair downgraded Red Hat from an “outperform” rating to a “market perform” rating and set a $188.30 target price on the stock. in a research report on Friday, June 21st. Eleven analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $179.37.
About Red Hat
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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