One68 Global Capital LLC increased its stake in Red Hat Inc (NYSE:RHT) by 39.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 77,077 shares of the open-source software company’s stock after acquiring an additional 21,734 shares during the period. Red Hat comprises about 42.3% of One68 Global Capital LLC’s holdings, making the stock its largest holding. One68 Global Capital LLC’s holdings in Red Hat were worth $14,082,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in RHT. Vanguard Group Inc grew its stake in Red Hat by 0.6% during the third quarter. Vanguard Group Inc now owns 18,703,926 shares of the open-source software company’s stock worth $2,548,970,000 after purchasing an additional 103,057 shares during the period. Capital Investment Advisory Services LLC acquired a new stake in Red Hat during the fourth quarter worth approximately $86,000. Chicago Equity Partners LLC grew its stake in Red Hat by 22.1% during the fourth quarter. Chicago Equity Partners LLC now owns 2,815 shares of the open-source software company’s stock worth $494,000 after purchasing an additional 510 shares during the period. Daiwa Securities Group Inc. grew its stake in Red Hat by 3.1% during the fourth quarter. Daiwa Securities Group Inc. now owns 6,737 shares of the open-source software company’s stock worth $1,183,000 after purchasing an additional 200 shares during the period. Finally, Parallel Advisors LLC grew its stake in Red Hat by 34.1% during the fourth quarter. Parallel Advisors LLC now owns 609 shares of the open-source software company’s stock worth $106,000 after purchasing an additional 155 shares during the period. 85.94% of the stock is owned by institutional investors.
Separately, ValuEngine cut Red Hat from a “strong-buy” rating to a “buy” rating in a research note on Monday, April 1st. Thirteen equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Red Hat has an average rating of “Hold” and an average target price of $168.33.
Red Hat stock traded up $0.01 during mid-day trading on Friday, reaching $185.55. The stock had a trading volume of 8,611 shares, compared to its average volume of 1,428,071. 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 fifty-two week low of $115.31 and a fifty-two week high of $186.36. The stock has a market capitalization of $33.01 billion, a PE ratio of 66.51, a price-to-earnings-growth ratio of 4.06 and a beta of 0.49.
Red Hat (NYSE:RHT) last announced its earnings results on Monday, March 25th. The open-source software company reported $1.16 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.01 by $0.15. The company had revenue of $879.00 million for the quarter, compared to analysts’ expectations of $885.64 million. Red Hat had a return on equity of 35.35% and a net margin of 12.91%. Red Hat’s quarterly revenue was up 13.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.91 earnings per share. Research analysts forecast that Red Hat Inc will post 3.04 EPS for the current 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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