Rail-splitter Capital Management buys $16,434,747 stake in Red Hat Inc (RHT)

Red Hat Inc (RHT) : Rail-splitter Capital Management scooped up 35,270 additional shares in Red Hat Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 2, 2016. The investment management firm now holds a total of 220,364 shares of Red Hat Inc which is valued at $16,434,747.Red Hat Inc makes up approximately 3.81% of Rail-splitter Capital Management’s portfolio.

Other Hedge Funds, Including , Nippon Life Insurance Co reduced its stake in RHT by selling 4,001 shares or 17.65% in the most recent quarter. The Hedge Fund company now holds 18,663 shares of RHT which is valued at $1,391,887. Red Hat Inc makes up approx 0.03% of Nippon Life Insurance Co’s portfolio.California State Teachers Retirement System reduced its stake in RHT by selling 6,193 shares or 1.59% in the most recent quarter. The Hedge Fund company now holds 383,293 shares of RHT which is valued at $28,585,992. Red Hat Inc makes up approx 0.06% of California State Teachers Retirement System’s portfolio.Oakbrook Investments boosted its stake in RHT in the latest quarter, The investment management firm added 7,350 additional shares and now holds a total of 17,200 shares of Red Hat Inc which is valued at $1,263,684. Red Hat Inc makes up approx 0.07% of Oakbrook Investments’s portfolio.

Red Hat Inc closed down -0.58 points or -0.76% at $75.25 with 7,72,974 shares getting traded on Monday. Post opening the session at $75.72, the shares hit an intraday low of $75.01 and an intraday high of $76.09 and the price fluctuated in this range throughout the day.Shares ended Monday 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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