Havens Advisors adds Rackspace Hosting (RAX) to its portfolio

Rackspace Hosting (RAX) : Havens Advisors added new position in Rackspace Hosting during the most recent quarter end. The investment management firm now holds 59,750 shares of Rackspace Hosting which is valued at $1,900,648 , the company said in a statement filed on Oct 13, 2016 with the SEC.Rackspace Hosting makes up approximately 1.52% of Havens Advisors’s portfolio.

Other Hedge Funds, Including , Msi Financial Services Inc reduced its stake in RAX by selling 400 shares or 36.63% in the most recent quarter. The Hedge Fund company now holds 692 shares of RAX which is valued at $22,013. North Star Investment Management Corp. sold out all of its stake in RAX during the most recent quarter. The investment firm sold 890 shares of RAX which is valued $28,284. Fox Run Management L.l.c. sold out all of its stake in RAX during the most recent quarter. The investment firm sold 36,400 shares of RAX which is valued $1,156,792.Capstone Asset Management Co reduced its stake in RAX by selling 390 shares or 4.03% in the most recent quarter. The Hedge Fund company now holds 9,298 shares of RAX which is valued at $295,490. Rackspace Hosting makes up approx 0.01% of Capstone Asset Management Co’s portfolio.Advisory Services Network reduced its stake in RAX by selling 1,650 shares or 30.78% in the most recent quarter. The Hedge Fund company now holds 3,711 shares of RAX which is valued at $117,787. Rackspace Hosting makes up approx 0.02% of Advisory Services Network’s portfolio.

Rackspace Hosting (RAX) witnessed a volatile trading activity on Tuesday , and eventually ended flat at 0.00% or 0 points without letting the bulls or bears take much advantage. The trading began at $31.8 and reached the intraday high at $31.8. The bulls started the profit booking and pushed the shares to intraday low of $31.76. The trading session was marked by a volume range of 15,97,770 shares exchanging hands. The 52-week high of the shares is $32.14 and the 52-week low is $15.05. The market cap of the company stands at $3,998 M and there are 12,58,05,220 shares in public circulation.

On the company’s financial health, Rackspace Hosting reported $0.28 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on Aug 8, 2016. Analyst had a consensus of $0.22. The company had revenue of $523.60 million for the quarter, compared to analysts expectations of $521.08 million. The company’s revenue was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.20 EPS.

Many Wall Street Analysts have commented on Rackspace Hosting. Rackspace Hosting was Downgraded by Wells Fargo to ” Market Perform” on Aug 29, 2016. Company shares were Reiterated by RBC Capital Mkts on Aug 10, 2016 to “Outperform”, Firm has raised the Price Target to $ 33 from a previous price target of $26 .Company shares were Reiterated by FBN Securities on Aug 9, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 26 from a previous price target of $21 .

Rackspace Hosting Inc. (Rackspace) operates in the managed cloud segment of the business information technology (IT) market. The Company offers a portfolio of integrated IT solutions for common business needs including for e-commerce Web content management Website hosting data services office mail and collaboration and private clouds. It also offers advisory services for technology strategy security and compliance application assessment and migration and DevOps automation. The Company also offers its solutions across a variety of IT form factors including multi-tenant public cloud dedicated single-tenant servers private cloud and hybrid cloud. It also delivers managed services and Fanatical Support across its entire product portfolio. The Company sells its services to business customers in more than 120 countries. The Company has operations located across the United States as well as in London Amsterdam Zurich Hong Kong Sydney and Mexico City.

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