Alyeska Investment Group L.P. Cuts Position in Red Hat Inc (RHT)
Alyeska Investment Group L.P. reduced its stake in Red Hat Inc (NYSE:RHT) by 88.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,147 shares of the open-source software company’s stock after selling 207,028 shares during the quarter. Alyeska Investment Group L.P.’s holdings in Red Hat were worth $3,010,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. D.A. Davidson & CO. lifted its position in Red Hat by 6.8% during the 2nd 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 in the last quarter. Clear Perspective Advisors LLC bought a new stake in Red Hat during the 2nd quarter worth about $112,000. Sun Life Financial INC lifted its position in Red Hat by 14,837.5% during the 2nd 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 in the last quarter. BB&T Investment Services Inc. bought a new stake in Red Hat during the 2nd quarter worth about $135,000. Finally, Global X Management Co. LLC lifted its position in Red Hat by 91.3% during the 2nd quarter. Global X Management Co. LLC now owns 1,542 shares of the open-source software company’s stock worth $148,000 after buying an additional 736 shares in the last quarter. 93.85% of the stock is currently owned by institutional investors and hedge funds.
Shares of Red Hat Inc (RHT) traded down $0.87 on Wednesday, reaching $125.75. 1,202,500 shares of the company were exchanged, compared to its average volume of 1,653,925. Red Hat Inc has a twelve month low of $68.54 and a twelve month high of $129.61. The firm has a market cap of $22,574.83, a price-to-earnings ratio of 69.57, a P/E/G ratio of 4.02 and a beta of 1.19. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.30 and a current ratio of 1.30.
Red Hat (NYSE:RHT) last announced its quarterly earnings results on Monday, September 25th. The open-source software company reported $0.77 EPS for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.10. Red Hat had a net margin of 11.49% and a return on equity of 25.27%. 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 business earned $0.55 EPS. Red Hat’s quarterly revenue was up 20.6% on a year-over-year basis. analysts anticipate that Red Hat Inc will post 2 earnings per share for the current year.
Several equities research analysts have commented on the stock. Barclays reissued an “overweight” rating and set a $145.00 price target on shares of Red Hat in a research report on Wednesday. Robert W. Baird reissued a “hold” rating on shares of Red Hat in a research report on Tuesday, September 26th. Mizuho boosted their price target on shares of Red Hat from $125.00 to $140.00 and gave the stock a “buy” rating in a research report on Wednesday. BTIG Research reissued a “buy” rating and set a $120.00 price target on shares of Red Hat in a research report on Wednesday, September 27th. Finally, Cowen reissued a “buy” rating and set a $136.00 price target on shares of Red Hat in a research report on Monday. One research 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 has an average rating of “Buy” and an average target price of $113.55.
In related news, insider Michael A. Kelly sold 2,888 shares of the company’s stock in a transaction dated Wednesday, October 18th. The shares were sold at an average price of $121.03, for a total value of $349,534.64. Following the transaction, the insider now owns 8,751 shares in the company, valued at approximately $1,059,133.53. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO James M. Whitehurst sold 12,000 shares of the company’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $111.15, for a total transaction of $1,333,800.00. Following the completion of the transaction, the chief executive officer now owns 392,979 shares in the company, valued at approximately $43,679,615.85. The disclosure for this sale can be found here. In the last quarter, insiders sold 34,172 shares of company stock worth $3,926,377. 0.66% of the stock is owned by company insiders.
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Red Hat 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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