Aristeia Capital adds Red Hat Inc (RHT) to its portfolio

Red Hat Inc (RHT) : Aristeia Capital added new position in Red Hat Inc during the most recent quarter end. The investment management firm now holds 120,300 shares of Red Hat Inc which is valued at $8,902,200 , the company said in a statement filed on Aug 15, 2016 with the SEC.Red Hat Inc makes up approximately 1.88% of Aristeia Capital’s portfolio.

Other Hedge Funds, Including , Qcm Cayman Ltd. added RHT to its portfolio by purchasing 2,979 company shares during the most recent quarter which is valued at $220,446. Red Hat Inc makes up approx 0.26% of Qcm Cayman Ltd.’s portfolio.Lord Abbett reduced its stake in RHT by selling 166,514 shares or 53.17% in the most recent quarter. The Hedge Fund company now holds 146,658 shares of RHT which is valued at $10,852,692. Red Hat Inc makes up approx 0.03% of Lord Abbett’s portfolio.Acrospire Investment Management reduced its stake in RHT by selling 2,400 shares or 68.57% in the most recent quarter. The Hedge Fund company now holds 1,100 shares of RHT which is valued at $82,775. Red Hat Inc makes up approx 0.06% of Acrospire Investment Management’s portfolio.Ridgeworth Capital Management reduced its stake in RHT by selling 2,490 shares or 1.87% in the most recent quarter. The Hedge Fund company now holds 130,978 shares of RHT which is valued at $9,932,062. Red Hat Inc makes up approx 0.09% of Ridgeworth Capital Management’s portfolio.Great West Life Assurance Co Can boosted its stake in RHT in the latest quarter, The investment management firm added 30,586 additional shares and now holds a total of 131,146 shares of Red Hat Inc which is valued at $9,780,869. Red Hat Inc makes up approx 0.03% of Great West Life Assurance Co Can’s portfolio.

Red Hat Inc closed down -0.04 points or -0.05% at $72.94 with 27,10,455 shares getting traded on Thursday. Post opening the session at $72.5, the shares hit an intraday low of $72.26 and an intraday high of $72.97 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

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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