Wcg Management adds Red Hat Inc (RHT) to its portfolio

Red Hat Inc (RHT) : Wcg Management added new position in Red Hat Inc during the most recent quarter end. The investment management firm now holds 69,000 shares of Red Hat Inc which is valued at $5,146,020 , the company said in a statement filed on Aug 1, 2016 with the SEC.Red Hat Inc makes up approximately 6.01% of Wcg Management’s portfolio.

Other Hedge Funds, Including , Agf Investments reduced its stake in RHT by selling 301,454 shares or 41.61% in the most recent quarter. The Hedge Fund company now holds 422,991 shares of RHT which is valued at $31,546,669. Red Hat Inc makes up approx 0.35% of Agf Investments’s portfolio.Proficio Capital Partners boosted its stake in RHT in the latest quarter, The investment management firm added 19 additional shares and now holds a total of 469 shares of Red Hat Inc which is valued at $35,311. Red Hat Inc makes up approx 0.02% of Proficio Capital Partners’s portfolio.Candriam Luxembourg S.c.a. boosted its stake in RHT in the latest quarter, The investment management firm added 783 additional shares and now holds a total of 6,273 shares of Red Hat Inc which is valued at $461,944. Red Hat Inc makes up approx 0.01% of Candriam Luxembourg S.c.a.’s portfolio.Huntington National Bank reduced its stake in RHT by selling 259 shares or 12.76% in the most recent quarter. The Hedge Fund company now holds 1,770 shares of RHT which is valued at $130,343.Sumitomo Life Insurance Co reduced its stake in RHT by selling 547 shares or 3.29% in the most recent quarter. The Hedge Fund company now holds 16,084 shares of RHT which is valued at $1,170,915. Red Hat Inc makes up approx 0.16% of Sumitomo Life Insurance Co’s portfolio.

Red Hat Inc opened for trading at $74.58 and hit $75.09 on the upside on Thursday, eventually ending the session at $74.6, with a gain of 0.03% or 0.02 points. The heightened volatility saw the trading volume jump to 10,24,864 shares. Company has a market cap of $13,510 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.

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