Wunderlich Capital Managemnt Has $1.09 Million Position in Red Hat Inc (RHT)
Wunderlich Capital Managemnt increased its holdings in Red Hat Inc (NYSE:RHT) by 330.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 9,831 shares of the open-source software company’s stock after acquiring an additional 7,548 shares during the period. Wunderlich Capital Managemnt’s holdings in Red Hat were worth $1,090,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. grew its position in Red Hat by 2.8% in the second quarter. Vanguard Group Inc. now owns 17,627,522 shares of the open-source software company’s stock worth $1,687,836,000 after acquiring an additional 479,615 shares during the period. FMR LLC grew its position in Red Hat by 10.8% in the second quarter. FMR LLC now owns 11,165,642 shares of the open-source software company’s stock worth $1,069,110,000 after acquiring an additional 1,085,953 shares during the period. Northern Trust Corp grew its position in Red Hat by 28.8% in the second quarter. Northern Trust Corp now owns 3,794,946 shares of the open-source software company’s stock worth $363,365,000 after acquiring an additional 848,777 shares during the period. TIAA CREF Investment Management LLC grew its position in Red Hat by 34.4% in the second quarter. TIAA CREF Investment Management LLC now owns 1,302,954 shares of the open-source software company’s stock worth $124,758,000 after acquiring an additional 333,408 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its position in Red Hat by 282.6% in the second quarter. Arrowstreet Capital Limited Partnership now owns 1,177,208 shares of the open-source software company’s stock worth $112,718,000 after acquiring an additional 869,550 shares during the period. Institutional investors own 93.85% of the company’s stock.
In other Red Hat news, insider Michael A. Kelly sold 2,888 shares of the firm’s stock in a transaction on Wednesday, October 18th. The stock was sold at an average price of $121.03, for a total value of $349,534.64. Following the sale, the insider now directly owns 8,751 shares in the company, valued at $1,059,133.53. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director William S. Kaiser sold 14,000 shares of the firm’s stock in a transaction on Thursday, October 5th. The shares were sold at an average price of $114.79, for a total value of $1,607,060.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 34,172 shares of company stock worth $3,926,377. 0.66% of the stock is owned by insiders.
Red Hat Inc (RHT) traded up $1.33 during trading on Tuesday, reaching $126.62. The company’s stock had a trading volume of 1,654,200 shares, compared to its average volume of 1,655,821. Red Hat Inc has a one year low of $68.54 and a one year high of $129.61. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.30 and a current ratio of 1.30. The firm has a market capitalization of $22,337.71, a PE ratio of 68.84, a PEG ratio of 3.98 and a beta of 1.19.
Red Hat (NYSE:RHT) last posted its quarterly earnings results on Monday, September 25th. The open-source software company reported $0.77 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.10. Red Hat had a return on equity of 25.27% and a net margin of 11.49%. The company had revenue of $723.60 million for the quarter, compared to analysts’ expectations of $699.56 million. During the same period last year, the firm earned $0.55 earnings per share. Red Hat’s quarterly revenue was up 20.6% on a year-over-year basis. analysts anticipate that Red Hat Inc will post 2 earnings per share for the current year.
Several research analysts recently weighed in on RHT shares. Zacks Investment Research lowered Red Hat from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 22nd. Piper Jaffray Companies reiterated a “hold” rating and issued a $100.00 price objective on shares of Red Hat in a research report on Sunday, August 27th. Credit Suisse Group started coverage on Red Hat in a research report on Tuesday, September 5th. They issued a “neutral” rating and a $111.00 price objective for the company. Moffett Nathanson started coverage on Red Hat in a research report on Wednesday, September 6th. They issued a “buy” rating for the company. Finally, KeyCorp reiterated an “overweight” rating and issued a $121.00 price objective on shares of Red Hat in a research report on Friday, September 8th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and twenty-four have given a buy rating to the stock. Red Hat currently has a consensus rating of “Buy” and a consensus price target of $112.36.
ILLEGAL ACTIVITY NOTICE: “Wunderlich Capital Managemnt Has $1.09 Million Position in Red Hat Inc (RHT)” was reported by Watch List News and is the sole property of of Watch List News. If you are accessing this piece on another domain, it was illegally copied and reposted in violation of United States and international copyright law. The original version of this piece can be viewed at https://www.watchlistnews.com/wunderlich-capital-managemnt-has-1-09-million-position-in-red-hat-inc-rht/1759820.html.
Red Hat Profile
Red Hat, Inc (Red Hat) provides open source software solutions, using a community-powered approach to develop and offer operating system, virtualization, management, middleware, cloud, mobile and storage technologies. Red Hat operates through three geographical segments: the Americas, including the United States, Canada and Latin America; EMEA, including Europe, Middle East and Africa, and Asia Pacific.
Want to see what other hedge funds are holding RHT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Red Hat Inc (NYSE:RHT).
Receive News & Ratings for Red Hat Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Red Hat and related companies with Analyst Ratings Network's FREE daily email newsletter.