Columbus Circle Investors Acquires Shares of 317,114 Red Hat, Inc. (RHT)
Columbus Circle Investors acquired a new position in shares of Red Hat, Inc. (NYSE:RHT) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 317,114 shares of the open-source software company’s stock, valued at approximately $35,155,000. Columbus Circle Investors owned 0.18% of Red Hat as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of RHT. D.A. Davidson & CO. boosted its stake in Red Hat by 6.8% during the second quarter. D.A. Davidson & CO. now owns 1,071 shares of the open-source software company’s stock worth $102,000 after buying an additional 68 shares during the period. Clear Perspective Advisors LLC purchased a new position in Red Hat during the second quarter worth $112,000. Sun Life Financial INC boosted its stake in Red Hat by 14,837.5% during the second quarter. Sun Life Financial INC now owns 1,195 shares of the open-source software company’s stock worth $114,000 after buying an additional 1,187 shares during the period. Shine Investment Advisory Services Inc. purchased a new position in Red Hat during the second quarter worth $117,000. Finally, State of Alaska Department of Revenue purchased a new position in Red Hat during the second quarter worth $122,000. 95.42% of the stock is owned by institutional investors.
Shares of Red Hat, Inc. (NYSE RHT) traded up $2.81 during midday trading on Friday, reaching $126.63. The company had a trading volume of 2,357,600 shares, compared to its average volume of 1,669,364. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.54. Red Hat, Inc. has a 52-week low of $68.54 and a 52-week high of $126.67. The stock has a market capitalization of $22,240.00, a price-to-earnings ratio of 68.03, a P/E/G ratio of 3.93 and a beta of 1.18.
Red Hat (NYSE:RHT) last released its quarterly earnings data on Monday, September 25th. The open-source software company reported $0.77 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.10. Red Hat had a return on equity of 25.27% and a net margin of 11.49%. The business had revenue of $723.60 million for the quarter, compared to analyst estimates of $699.56 million. During the same quarter in the prior year, the firm posted $0.55 EPS. The business’s quarterly revenue was up 20.6% compared to the same quarter last year. sell-side analysts anticipate that Red Hat, Inc. will post 2 earnings per share for the current year.
A number of analysts have recently issued reports on the stock. Credit Suisse Group assumed coverage on shares of Red Hat in a research note on Tuesday, September 5th. They set a “neutral” rating and a $111.00 target price for the company. Bank of America Corporation reissued an “underperform” rating and set a $115.00 target price on shares of Red Hat in a research note on Tuesday, October 24th. Piper Jaffray Companies reissued a “hold” rating and set a $100.00 target price on shares of Red Hat in a research note on Sunday, August 27th. Moffett Nathanson assumed coverage on shares of Red Hat in a research note on Wednesday, September 6th. They set a “buy” rating for the company. Finally, KeyCorp reissued an “overweight” rating and set a $121.00 target price on shares of Red Hat in a research note on Friday, September 8th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and twenty-four have given a buy rating to the company’s stock. Red Hat presently has an average rating of “Buy” and a consensus target price of $110.93.
In other news, CEO James M. Whitehurst sold 12,000 shares of the stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $111.15, for a total transaction of $1,333,800.00. Following the transaction, the chief executive officer now owns 392,979 shares in the company, valued at approximately $43,679,615.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Eugene Beukman sold 100,000 shares of the stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $0.73, for a total value of $73,000.00. In the last 90 days, insiders sold 234,172 shares of company stock worth $4,072,377. Insiders own 0.66% of the company’s stock.
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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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