Carillon Tower Advisers Inc. raised its position in Red Hat Inc (NYSE:RHT) by 4.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 79,425 shares of the open-source software company’s stock after buying an additional 3,100 shares during the period. Carillon Tower Advisers Inc.’s holdings in Red Hat were worth $10,672,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of the stock. Mount Yale Investment Advisors LLC purchased a new stake in Red Hat in the first quarter valued at approximately $103,000. Migdal Insurance & Financial Holdings Ltd. increased its position in shares of Red Hat by 16,350.0% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 987 shares of the open-source software company’s stock worth $133,000 after acquiring an additional 981 shares during the period. Quad Cities Investment Group LLC purchased a new stake in shares of Red Hat during the second quarter worth $134,000. Summit Trail Advisors LLC increased its position in shares of Red Hat by 17,117.4% during the first quarter. Summit Trail Advisors LLC now owns 137,395 shares of the open-source software company’s stock worth $137,000 after acquiring an additional 136,597 shares during the period. Finally, Financial Architects Inc increased its position in shares of Red Hat by 95.2% during the second quarter. Financial Architects Inc now owns 1,025 shares of the open-source software company’s stock worth $137,000 after acquiring an additional 500 shares during the period. Institutional investors own 95.23% of the company’s stock.
A number of research firms have recently weighed in on RHT. Raymond James lowered Red Hat from an “outperform” rating to a “market perform” rating and set a $84.00 price objective on the stock. in a research report on Tuesday, June 19th. Barclays cut their price objective on Red Hat from $186.00 to $160.00 and set an “overweight” rating on the stock in a research report on Friday, June 22nd. Zacks Investment Research downgraded shares of Red Hat from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 30th. ValuEngine downgraded shares of Red Hat from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 22nd. Finally, UBS Group reiterated a “buy” rating and set a $170.00 target price on shares of Red Hat in a research note on Friday, June 22nd. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and nineteen have issued a buy rating to the company’s stock. Red Hat currently has an average rating of “Buy” and a consensus target price of $158.03.
In other news, insider Michael A. Kelly sold 636 shares of the stock in a transaction that occurred on Tuesday, July 17th. The shares were sold at an average price of $145.00, for a total value of $92,220.00. Following the sale, the insider now directly owns 5,965 shares in the company, valued at $864,925. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO James M. Whitehurst sold 44,472 shares of the stock in a transaction that occurred on Tuesday, August 7th. The shares were sold at an average price of $142.56, for a total transaction of $6,339,928.32. Following the completion of the sale, the chief executive officer now owns 445,557 shares in the company, valued at $63,518,605.92. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 56,926 shares of company stock valued at $8,145,758. 0.58% of the stock is currently owned by corporate insiders.
NYSE RHT opened at $150.89 on Wednesday. The stock has a market cap of $26.25 billion, a P/E ratio of 65.60, a PEG ratio of 3.47 and a beta of 1.07. Red Hat Inc has a 52-week low of $104.51 and a 52-week high of $177.70. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.28 and a quick ratio of 1.28.
Red Hat (NYSE:RHT) last posted its quarterly earnings results on Thursday, June 21st. The open-source software company reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.03. The firm had revenue of $813.53 million during the quarter, compared to analysts’ expectations of $807.48 million. Red Hat had a net margin of 9.77% and a return on equity of 30.40%. The firm’s revenue for the quarter was up 20.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.56 earnings per share. sell-side analysts predict that Red Hat Inc will post 2.56 EPS for the current fiscal year.
Red Hat announced that its board has approved a stock repurchase plan on Thursday, June 21st that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the open-source software company to purchase up to 4% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its shares are undervalued.
About Red Hat
Red Hat, Inc provides open source software solutions to develop and offer operating system, virtualization, management, middleware, cloud, mobile, and storage technologies to various enterprises worldwide. It offers infrastructure-related solutions, such as Red Hat Enterprise Linux, an operating system platform that runs on hardware for use in hybrid cloud environments; Red Hat Satellite, a system management offering that helps to deploy, scale, and manage in hybrid cloud environments; and Red Hat Enterprise Virtualization, a software solution that allows customers to utilize and manage a common hardware infrastructure to run multiple operating systems and applications.
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