P Schoenfeld Asset Management LP bought a new position in shares of Red Hat Inc (NYSE:RHT) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 152,519 shares of the open-source software company’s stock, valued at approximately $26,788,000. Red Hat makes up 2.9% of P Schoenfeld Asset Management LP’s holdings, making the stock its 11th largest position.

Several other hedge funds have also modified their holdings of the company. Nicholas Company Inc. grew its holdings in Red Hat by 4.3% during the 4th quarter. Nicholas Company Inc. now owns 48,830 shares of the open-source software company’s stock valued at $8,576,000 after buying an additional 2,000 shares during the last quarter. Telemetry Investments L.L.C. acquired a new stake in Red Hat during the 4th quarter valued at $2,493,000. MUFG Securities EMEA plc grew its holdings in Red Hat by 2,769.6% during the 4th quarter. MUFG Securities EMEA plc now owns 138,000 shares of the open-source software company’s stock valued at $24,238,000 after buying an additional 133,191 shares during the last quarter. Maven Securities LTD acquired a new stake in Red Hat during the 4th quarter valued at $16,526,000. Finally, LMR Partners LLP acquired a new stake in Red Hat during the 4th quarter valued at $24,797,000. 88.56% of the stock is owned by institutional investors and hedge funds.

Shares of RHT opened at $181.78 on Friday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.26 and a current ratio of 1.26. The firm has a market capitalization of $32.13 billion, a P/E ratio of 79.03, a PEG ratio of 4.02 and a beta of 0.55. Red Hat Inc has a twelve month low of $115.31 and a twelve month high of $183.54.

Red Hat (NYSE:RHT) last issued its earnings results on Monday, December 17th. The open-source software company reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.09. The business had revenue of $847.00 million for the quarter, compared to analyst estimates of $852.79 million. Red Hat had a return on equity of 33.96% and a net margin of 8.66%. The business’s quarterly revenue was up 13.2% on a year-over-year basis. During the same period last year, the company posted $0.73 EPS. Equities research analysts expect that Red Hat Inc will post 2.63 EPS for the current year.

Several research firms have recently issued reports on RHT. Zacks Investment Research upgraded Red Hat from a “hold” rating to a “buy” rating and set a $194.00 price objective on the stock in a report on Monday, December 31st. Monness Crespi & Hardt restated a “buy” rating and set a $190.00 price objective (up previously from $186.00) on shares of Red Hat in a report on Monday, December 10th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $166.54.

In related news, EVP Michael Cunningham sold 25,000 shares of the stock in a transaction on Thursday, February 7th. The stock was sold at an average price of $178.79, for a total value of $4,469,750.00. Following the transaction, the executive vice president now directly owns 25,071 shares of the company’s stock, valued at approximately $4,482,444.09. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.58% of the company’s stock.

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About Red Hat

Red Hat, Inc provides open source software solutions to develop and offer operating system, virtualization, management, middleware, cloud, mobile, and storage technologies to various enterprises worldwide. It offers infrastructure-related solutions, such as Red Hat Enterprise Linux, an operating system platform that runs on hardware for use in hybrid cloud environments; Red Hat Satellite, a system management offering that helps to deploy, scale, and manage in hybrid cloud environments; and Red Hat Enterprise Virtualization, a software solution that allows customers to utilize and manage a common hardware infrastructure to run multiple operating systems and applications.

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Institutional Ownership by Quarter for Red Hat (NYSE:RHT)

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