Sei Investments Co. Reduces Position in Red Hat Inc. (RHT)
Sei Investments Co. decreased its position in Red Hat Inc. (NYSE:RHT) by 7.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 218,923 shares of the open-source software company’s stock after selling 17,355 shares during the period. Sei Investments Co.’s holdings in Red Hat were worth $17,696,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of RHT. Emerald Acquisition Ltd. acquired a new position in shares of Red Hat during the second quarter worth $87,400,000. Smith Asset Management Group LP boosted its position in shares of Red Hat by 219.6% in the second quarter. Smith Asset Management Group LP now owns 972,049 shares of the open-source software company’s stock worth $70,571,000 after buying an additional 667,933 shares during the period. Bank of Montreal Can acquired a new position in shares of Red Hat during the second quarter worth $41,574,000. FMR LLC boosted its position in shares of Red Hat by 5.1% in the second quarter. FMR LLC now owns 11,463,375 shares of the open-source software company’s stock worth $832,240,000 after buying an additional 558,296 shares during the period. Finally, Old Mutual Global Investors UK Ltd. boosted its position in shares of Red Hat by 120.8% in the third quarter. Old Mutual Global Investors UK Ltd. now owns 713,216 shares of the open-source software company’s stock worth $57,649,000 after buying an additional 390,192 shares during the period. 94.49% of the stock is owned by institutional investors and hedge funds.
Red Hat Inc. (NYSE:RHT) traded down 1.02% on Wednesday, reaching $79.18. 526,517 shares of the company’s stock were exchanged. Red Hat Inc. has a 12 month low of $59.59 and a 12 month high of $84.44. The firm has a 50-day moving average of $77.31 and a 200-day moving average of $75.69. The firm has a market capitalization of $14.22 billion, a price-to-earnings ratio of 66.59 and a beta of 1.51.
Red Hat (NYSE:RHT) last released its earnings results on Wednesday, September 21st. The open-source software company reported $0.55 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.54 by $0.01. The firm earned $599.80 million during the quarter. Red Hat had a net margin of 9.84% and a return on equity of 18.93%. Red Hat’s revenue for the quarter was up 19.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.47 earnings per share. On average, equities analysts expect that Red Hat Inc. will post $2.24 earnings per share for the current year.
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A number of research analysts have recently weighed in on RHT shares. Zacks Investment Research cut shares of Red Hat from a “buy” rating to a “hold” rating in a research note on Tuesday, November 15th. Vetr raised shares of Red Hat from a “buy” rating to a “strong-buy” rating and set a $81.54 price objective for the company in a research note on Thursday, September 8th. Barclays PLC reissued a “buy” rating and set a $90.00 price objective on shares of Red Hat in a research note on Thursday, September 15th. Bank of America Corp. restated a “hold” rating and set a $90.00 target price on shares of Red Hat in a research report on Thursday, September 22nd. Finally, Citigroup Inc. raised their target price on shares of Red Hat from $90.00 to $92.00 and gave the stock a “buy” rating in a research report on Thursday, September 22nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-five have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $89.55.
In related news, Director General Henry Hugh Shelton sold 15,000 shares of the company’s stock in a transaction on Friday, September 30th. The shares were 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 directly owns 9,026 shares in the company, valued at approximately $728,398.20. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Delisa Alexander sold 1,121 shares of the company’s stock in a transaction on Tuesday, October 18th. The shares were sold at an average price of $77.00, for a total transaction of $86,317.00. Following the transaction, the executive vice president now owns 57,356 shares of the company’s stock, valued at $4,416,412. The disclosure for this sale can be found here. Corporate insiders own 0.76% of the company’s stock.
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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