Retirement Systems of Alabama boosted its holdings in shares of Red Hat, Inc. (NYSE:RHT) by 19.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 406,095 shares of the company’s stock after buying an additional 64,901 shares during the period. Retirement Systems of Alabama owned about 0.23% of Red Hat worth $45,020,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also bought and sold shares of RHT. Zweig DiMenna Associates LLC acquired a new stake in shares of Red Hat in the 3rd quarter valued at $466,000. FDx Advisors Inc. acquired a new stake in shares of Red Hat in the 3rd quarter valued at $249,000. Alps Advisors Inc. acquired a new stake in shares of Red Hat in the 3rd quarter valued at $485,000. Candriam Luxembourg S.C.A. boosted its stake in shares of Red Hat by 8.4% in the 3rd quarter. Candriam Luxembourg S.C.A. now owns 14,621 shares of the company’s stock valued at $1,621,000 after purchasing an additional 1,137 shares in the last quarter. Finally, Amerigo Asset Management acquired a new stake in shares of Red Hat in the 3rd quarter valued at $36,584,000. Hedge funds and other institutional investors own 95.42% of the company’s stock.
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RHT has been the topic of several recent analyst reports. Zacks Investment Research upgraded shares of Red Hat from a “hold” rating to a “buy” rating and set a $120.00 target price on the stock in a research note on Thursday, September 21st. Stifel Nicolaus restated a “buy” rating and issued a $115.00 target price on shares of Red Hat in a research note on Wednesday, September 20th. Drexel Hamilton restated a “buy” rating and issued a $127.00 target price on shares of Red Hat in a research note on Tuesday, September 19th. Moffett Nathanson started coverage on Red Hat in a report on Wednesday, September 6th. They issued a “buy” rating for the company. Finally, Mizuho reaffirmed a “buy” rating and issued a $125.00 price target (up from $109.00) on shares of Red Hat in a report on Tuesday, September 26th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and twenty-four have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of C$110.93.
In other Red Hat news, CEO James M. Whitehurst sold 12,000 shares of the stock in a transaction on Monday, October 2nd. The stock was sold at an average price of C$111.15, for a total transaction of C$1,333,800.00. Following the transaction, the chief executive officer now owns 392,979 shares in the company, valued at approximately C$43,679,615.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michael A. Kelly sold 2,888 shares of the stock in a transaction on Wednesday, October 18th. The stock was sold at an average price of C$121.03, for a total value of C$349,534.64. Following the sale, the insider now directly owns 8,751 shares in the company, valued at C$1,059,133.53. The disclosure for this sale can be found here. Insiders have sold a total of 234,172 shares of company stock worth $4,072,377 in the last quarter. Company insiders own 0.66% of the company’s stock.
Red Hat, Inc. (NYSE:RHT) traded up C$0.68 on Monday, reaching C$124.18. The company had a trading volume of 1,141,800 shares, compared to its average volume of 1,674,276. Red Hat, Inc. has a twelve month low of C$68.54 and a twelve month high of C$124.56. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.54. The company has a market cap of $21,970.00, a PE ratio of 68.23, a PEG ratio of 3.95 and a beta of 1.18.
Red Hat (NYSE:RHT) last posted its quarterly earnings results on Monday, September 25th. The company reported C$0.77 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.67 by C$0.10. Red Hat had a return on equity of 25.27% and a net margin of 11.49%. The business had revenue of C$723.60 million for the quarter, compared to analysts’ expectations of C$699.56 million. During the same quarter in the prior year, the business earned $0.55 EPS. The firm’s revenue for the quarter was up 20.6% on a year-over-year basis. analysts predict that Red Hat, Inc. will post 2 earnings per share for the current year.
Red Hat Profile
Red Hat, Inc (Red Hat) provides open source software solutions, using a community-powered approach to develop and offer operating system, virtualization, management, middleware, cloud, mobile and storage technologies. Red Hat operates through three geographical segments: the Americas, including the United States, Canada and Latin America; EMEA, including Europe, Middle East and Africa, and Asia Pacific.
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