Fox Run Management L.l.c. adds Rackspace Hosting (RAX) to its portfolio

Rackspace Hosting (RAX) : Fox Run Management L.l.c. added new position in Rackspace Hosting during the most recent quarter end. The investment management firm now holds 36,400 shares of Rackspace Hosting which is valued at $869,960 , the company said in a statement filed on Jul 18, 2016 with the SEC.Rackspace Hosting makes up approximately 0.40% of Fox Run Management L.l.c.’s portfolio.

Other Hedge Funds, Including , Trust Co Of Vermont added RAX to its portfolio by purchasing 128 company shares during the most recent quarter which is valued at $3,059.Benjamin F. Edwards Company boosted its stake in RAX in the latest quarter, The investment management firm added 14,650 additional shares and now holds a total of 16,088 shares of Rackspace Hosting which is valued at $363,428. Rackspace Hosting makes up approx 0.07% of Benjamin F. Edwards Company’s portfolio.Lgt Capital Partners Ltd. boosted its stake in RAX in the latest quarter, The investment management firm added 57,610 additional shares and now holds a total of 449,790 shares of Rackspace Hosting which is valued at $10,160,756. Rackspace Hosting makes up approx 1.72% of Lgt Capital Partners Ltd.’s portfolio.

Rackspace Hosting opened for trading at $23.77 and hit $24.245 on the upside on Wednesday, eventually ending the session at $23.9, with a gain of 1.40% or 0.33 points. The heightened volatility saw the trading volume jump to 16,94,995 shares. Company has a market cap of $3,003 M.

On the company’s financial health, Rackspace Hosting reported $0.34 EPS for the quarter, beating the analyst consensus estimate by $ 0.12 according to the earnings call on May 9, 2016. Analyst had a consensus of $0.22. The company had revenue of $518.10 million for the quarter, compared to analysts expectations of $519.00 million. The company’s revenue was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.20 EPS.

Many Wall Street Analysts have commented on Rackspace Hosting. Rackspace Hosting was Downgraded by Raymond James to ” Outperform” on May 10, 2016.

Rackspace Hosting Inc. (Rackspace) operates in the managed cloud segment of the business information technology (IT) market. The Company offers a portfolio of integrated IT solutions for common business needs including for e-commerce Web content management Website hosting data services office mail and collaboration and private clouds. It also offers advisory services for technology strategy security and compliance application assessment and migration and DevOps automation. The Company also offers its solutions across a variety of IT form factors including multi-tenant public cloud dedicated single-tenant servers private cloud and hybrid cloud. It also delivers managed services and Fanatical Support across its entire product portfolio. The Company sells its services to business customers in more than 120 countries. The Company has operations located across the United States as well as in London Amsterdam Zurich Hong Kong Sydney and Mexico City.

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