Red Hat Inc (RHT) : Smith Asset Management Group Lp scooped up 667,933 additional shares in Red Hat Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Jul 26, 2016. The investment management firm now holds a total of 972,049 shares of Red Hat Inc which is valued at $71,581,688.Red Hat Inc makes up approximately 2.07% of Smith Asset Management Group Lp’s portfolio.
Other Hedge Funds, Including , Calamos Advisors reduced its stake in RHT by selling 240,393 shares or 59.21% in the most recent quarter. The Hedge Fund company now holds 165,584 shares of RHT which is valued at $12,193,606. Red Hat Inc makes up approx 0.11% of Calamos Advisors’s portfolio. Yhb Investment Advisors added RHT to its portfolio by purchasing 4,166 company shares during the most recent quarter which is valued at $306,076. Red Hat Inc makes up approx 0.07% of Yhb Investment Advisors’s portfolio.Nn Investment Partners Holdings N.v. reduced its stake in RHT by selling 22,043 shares or 53.31% in the most recent quarter. The Hedge Fund company now holds 19,307 shares of RHT which is valued at $1,422,154. Red Hat Inc makes up approx 0.01% of Nn Investment Partners Holdings N.v.’s portfolio.Cutler Group Lp boosted its stake in RHT in the latest quarter, The investment management firm added 20,636 additional shares and now holds a total of 25,372 shares of Red Hat Inc which is valued at $1,868,902. Red Hat Inc makes up approx 0.13% of Cutler Group Lp’s portfolio.
Red Hat Inc opened for trading at $74.38 and hit $75.39 on the upside on Friday, eventually ending the session at $75.29, with a gain of 1.16% or 0.86 points. The heightened volatility saw the trading volume jump to 14,72,067 shares. Company has a market cap of $13,635 M.
On the company’s financial health, Red Hat Inc reported $0.50 EPS for the quarter, based on the information available during the earnings call on Jun 22, 2016. Analyst had a consensus estimate of $0.50. The company had revenue of $567.90 million for the quarter, compared to analysts expectations of $562.61 million. The company’s revenue was up 18.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.44 EPS.
Many Wall Street Analysts have commented on Red Hat Inc. Red Hat Inc was Downgraded by Morgan Stanley to ” Equal-Weight” on Jul 7, 2016. Shares were Reiterated by BMO Capital Markets on Jun 23, 2016 to “Outperform” and Lowered the Price Target to $ 85 from a previous price target of $88 .
Red Hat Inc. is a provider of open source software solutions using a community-powered approach to develop and offer operating system virtualization middleware storage and cloud technologies. The Company employs an open source development model. The open source development model allows it to use the collective input resources and knowledge of a global community of contributors who can collaborate to develop maintain and enhance software because the human-readable source code for that software is publicly available and licenses permit modification. The Company distributes its software offerings under open source licenses that permit access to the software’s human-readable source code. The Company provides its software offerings primarily under annual or multi-year subscriptions as well as on-demand through cloud service providers.