Red Hat, Inc. (RHT) Shares Bought by Outfitter Advisors LTD.
Outfitter Advisors LTD. raised its stake in Red Hat, Inc. (NYSE:RHT) by 0.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,120 shares of the open-source software company’s stock after buying an additional 100 shares during the period. Outfitter Advisors LTD.’s holdings in Red Hat were worth $1,065,000 at the end of the most recent reporting period.
Several other institutional investors have also bought and sold shares of RHT. CENTRAL TRUST Co increased its position in Red Hat by 8.2% in the first quarter. CENTRAL TRUST Co now owns 1,839 shares of the open-source software company’s stock valued at $159,000 after buying an additional 139 shares in the last quarter. Gulf International Bank UK Ltd increased its position in Red Hat by 1.5% in the first quarter. Gulf International Bank UK Ltd now owns 55,005 shares of the open-source software company’s stock valued at $4,757,000 after buying an additional 800 shares in the last quarter. National Pension Service increased its position in Red Hat by 3.0% in the first quarter. National Pension Service now owns 161,028 shares of the open-source software company’s stock valued at $13,836,000 after buying an additional 4,692 shares in the last quarter. Bank of Montreal Can increased its position in Red Hat by 0.4% in the first quarter. Bank of Montreal Can now owns 194,562 shares of the open-source software company’s stock valued at $16,828,000 after buying an additional 807 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC acquired a new position in Red Hat during the first quarter valued at $1,011,000. 94.27% of the stock is currently owned by hedge funds and other institutional investors.
Red Hat, Inc. (NYSE RHT) opened at 98.34 on Friday. Red Hat, Inc. has a 12 month low of $68.54 and a 12 month high of $101.73. The stock has a market cap of $17.45 billion, a P/E ratio of 67.36 and a beta of 1.26. The firm’s 50-day moving average is $97.93 and its 200-day moving average is $88.38.
Red Hat (NYSE:RHT) last announced its quarterly earnings results on Tuesday, June 20th. The open-source software company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.03. Red Hat had a net margin of 10.54% and a return on equity of 22.84%. The company had revenue of $677 million during the quarter, compared to the consensus estimate of $647.42 million. During the same quarter in the previous year, the company posted $0.50 earnings per share. The company’s revenue for the quarter was up 19.2% compared to the same quarter last year. On average, equities analysts forecast that Red Hat, Inc. will post $2.66 earnings per share for the current fiscal year.
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Several equities analysts have recently weighed in on RHT shares. Zacks Investment Research raised shares of Red Hat from a “hold” rating to a “strong-buy” rating and set a $101.00 price target on the stock in a research note on Tuesday, May 2nd. Oppenheimer Holdings, Inc. reissued an “outperform” rating and issued a $96.00 price target (up from $94.00) on shares of Red Hat in a research note on Wednesday, May 10th. Sanford C. Bernstein started coverage on shares of Red Hat in a research note on Wednesday, May 24th. They issued a “market perform” rating and a $102.00 price target on the stock. Stifel Nicolaus raised shares of Red Hat from a “hold” rating to a “buy” rating and lifted their target price for the stock from $83.00 to $115.00 in a research note on Wednesday, June 21st. Finally, BMO Capital Markets lifted their target price on shares of Red Hat from $90.00 to $107.00 and gave the stock a “market perform” rating in a research note on Wednesday, June 21st. Nine research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. Red Hat currently has a consensus rating of “Buy” and a consensus price target of $98.72.
In related news, EVP Delisa Alexander sold 2,444 shares of Red Hat stock in a transaction dated Tuesday, July 18th. The shares were sold at an average price of $98.25, for a total transaction of $240,123.00. Following the sale, the executive vice president now directly owns 41,570 shares in the company, valued at $4,084,252.50. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Paul J. Cormier sold 30,000 shares of Red Hat stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $90.35, for a total transaction of $2,710,500.00. Following the sale, the executive vice president now owns 249,578 shares in the company, valued at $22,549,372.30. The disclosure for this sale can be found here. In the last three months, insiders have sold 130,549 shares of company stock valued at $12,133,438. Corporate insiders own 0.66% of the company’s stock.
Red Hat Company Profile
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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