Red Hat Inc (RHT) : Quantres Asset Management Ltd added new position in Red Hat Inc during the most recent quarter end. The investment management firm now holds 35,100 shares of Red Hat Inc which is valued at $2,578,797 , the company said in a statement filed on Jul 20, 2016 with the SEC.Red Hat Inc makes up approximately 1.53% of Quantres Asset Management Ltd’s portfolio.
Other Hedge Funds, Including , Hills Bank Trust Co added RHT to its portfolio by purchasing 3,070 company shares during the most recent quarter which is valued at $225,706. Red Hat Inc makes up approx 0.08% of Hills Bank Trust Co’s portfolio.Fox Run Management L.l.c. reduced its stake in RHT by selling 1,400 shares or 20.29% in the most recent quarter. The Hedge Fund company now holds 5,500 shares of RHT which is valued at $404,360. Red Hat Inc makes up approx 0.19% of Fox Run Management L.l.c.’s portfolio. First Western Capital Management Co added RHT to its portfolio by purchasing 12,910 company shares during the most recent quarter which is valued at $950,951. Red Hat Inc makes up approx 0.34% of First Western Capital Management Co’s portfolio.
Red Hat Inc opened for trading at $72.73 and hit $73.925 on the upside on Wednesday, eventually ending the session at $73.52, with a gain of 1.60% or 1.16 points. The heightened volatility saw the trading volume jump to 9,78,463 shares. Company has a market cap of $13,314 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.