Red Hat Inc (RHT) Stake Lowered by Rhumbline Advisers

Rhumbline Advisers lowered its position in shares of Red Hat Inc (NYSE:RHT) by 2.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 310,589 shares of the open-source software company’s stock after selling 8,282 shares during the period. Rhumbline Advisers owned 0.17% of Red Hat worth $56,745,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Parallel Advisors LLC raised its position in Red Hat by 27.6% during the 1st quarter. Parallel Advisors LLC now owns 777 shares of the open-source software company’s stock worth $142,000 after purchasing an additional 168 shares during the last quarter. Alps Advisors Inc. raised its position in shares of Red Hat by 17.9% in the 1st quarter. Alps Advisors Inc. now owns 2,898 shares of the open-source software company’s stock worth $529,000 after acquiring an additional 440 shares in the last quarter. Boussard & Gavaudan Investment Management LLP bought a new position in shares of Red Hat in the 1st quarter worth about $99,599,000. Migdal Insurance & Financial Holdings Ltd. raised its position in shares of Red Hat by 18.7% in the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,852 shares of the open-source software company’s stock worth $704,000 after acquiring an additional 608 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado grew its stake in shares of Red Hat by 4.6% in the 1st quarter. Public Employees Retirement Association of Colorado now owns 34,135 shares of the open-source software company’s stock valued at $6,236,000 after buying an additional 1,516 shares during the period. Institutional investors own 85.94% of the company’s stock.

Shares of NYSE:RHT traded down $0.15 during mid-day trading on Wednesday, reaching $185.30. The company had a trading volume of 1,505,847 shares, compared to its average volume of 1,327,277. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $33.01 billion, a PE ratio of 66.42, a price-to-earnings-growth ratio of 4.08 and a beta of 0.52. Red Hat Inc has a one year low of $115.31 and a one year high of $186.36.

Red Hat (NYSE:RHT) last posted its quarterly earnings results on Monday, March 25th. The open-source software company reported $1.16 EPS for the quarter, topping analysts’ consensus estimates of $1.01 by $0.15. Red Hat had a net margin of 12.91% and a return on equity of 35.35%. The company had revenue of $879.00 million for the quarter, compared to analysts’ expectations of $885.64 million. During the same quarter in the previous year, the firm posted $0.91 EPS. Red Hat’s revenue was up 13.8% on a year-over-year basis. Research analysts predict that Red Hat Inc will post 3.04 earnings per share for the current year.

Separately, ValuEngine downgraded Red Hat from a “strong-buy” rating to a “buy” rating in a research note on Monday, April 1st. Thirteen investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $168.33.

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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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Institutional Ownership by Quarter for Red Hat (NYSE:RHT)

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