Hudson Bay Capital Management Lp Lowers stake in Red Hat Inc (RHT)

Red Hat Inc (RHT) : Hudson Bay Capital Management Lp reduced its stake in Red Hat Inc by 0.08% during the most recent quarter end. The investment management company now holds a total of 130,800 shares of Red Hat Inc which is valued at $9,679,200 after selling 100 shares in Red Hat Inc , the firm said in a disclosure report filed with the SEC on Aug 10, 2016.Red Hat Inc makes up approximately 0.95% of Hudson Bay Capital Management Lp’s portfolio.

Other Hedge Funds, Including , Mycio Wealth Partners added RHT to its portfolio by purchasing 25 company shares during the most recent quarter which is valued at $1,850.Bnp Paribas Investment Partners S.a. reduced its stake in RHT by selling 164,823 shares or 68.88% in the most recent quarter. The Hedge Fund company now holds 74,461 shares of RHT which is valued at $5,541,388. Red Hat Inc makes up approx 0.05% of Bnp Paribas Investment Partners S.a.’s portfolio.Stephens Investment Management Group boosted its stake in RHT in the latest quarter, The investment management firm added 315 additional shares and now holds a total of 137,565 shares of Red Hat Inc which is valued at $10,431,554. Red Hat Inc makes up approx 0.32% of Stephens Investment Management Group’s portfolio.Checchi Capital Advisers reduced its stake in RHT by selling 8 shares or 0.62% in the most recent quarter. The Hedge Fund company now holds 1,292 shares of RHT which is valued at $94,923. Red Hat Inc makes up approx 0.02% of Checchi Capital Advisers’s portfolio.Davis R M Inc boosted its stake in RHT in the latest quarter, The investment management firm added 38,418 additional shares and now holds a total of 383,649 shares of Red Hat Inc which is valued at $27,929,647. Red Hat Inc makes up approx 1.34% of Davis R M Inc’s portfolio.

Red Hat Inc opened for trading at $73.51 and hit $74.37 on the upside on Friday, eventually ending the session at $74.23, with a gain of 0.71% or 0.52 points. The heightened volatility saw the trading volume jump to 7,69,228 shares. Company has a market cap of $13,443 M.

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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