Boltwood Capital Management decreased its position in Red Hat Inc (NYSE:RHT) by 27.7% during the second quarter, Holdings Channel reports. The fund owned 5,300 shares of the open-source software company’s stock after selling 2,030 shares during the period. Boltwood Capital Management’s holdings in Red Hat were worth $995,000 as of its most recent filing with the SEC.
Other hedge funds have also recently bought and sold shares of the company. Liberty Wealth Management LLC bought a new position in shares of Red Hat in the fourth quarter worth about $30,000. Advisory Alpha LLC bought a new position in shares of Red Hat in the first quarter worth about $32,000. Glassman Wealth Services raised its stake in shares of Red Hat by 58.0% in the first quarter. Glassman Wealth Services now owns 207 shares of the open-source software company’s stock worth $38,000 after buying an additional 76 shares during the period. Cornerstone Advisors Inc. raised its stake in shares of Red Hat by 26.4% in the first quarter. Cornerstone Advisors Inc. now owns 297 shares of the open-source software company’s stock worth $54,000 after buying an additional 62 shares during the period. Finally, Trustcore Financial Services LLC bought a new position in shares of Red Hat in the first quarter worth about $73,000. 85.75% of the stock is currently owned by institutional investors.
Several research firms have recently commented on RHT. Robert W. Baird decreased their price objective on Bed Bath & Beyond from $18.00 to $13.00 and set a “neutral” rating on the stock in a research note on Thursday, July 11th. ValuEngine upgraded Zynerba Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Monday, April 1st. Finally, William Blair reiterated a “buy” rating on shares of Dynavax Technologies in a research report on Friday, June 21st. Eleven research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $179.37.
NYSE RHT remained flat at $$187.71 during trading on Tuesday. The company’s stock had a trading volume of 999,351 shares, compared to its average volume of 1,591,676. The firm has a market capitalization of $33.43 billion, a price-to-earnings ratio of 67.28, a P/E/G ratio of 3.98 and a beta of 0.45. The firm’s 50-day moving average price is $187.00. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.23 and a quick ratio of 1.23. Red Hat Inc has a fifty-two week low of $115.31 and a fifty-two week high of $189.14.
Red Hat (NYSE:RHT) last released its quarterly earnings results on Thursday, June 20th. The open-source software company reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.14. The business had revenue of $934.10 million during the quarter, compared to analysts’ expectations of $931.58 million. Red Hat had a return on equity of 36.67% and a net margin of 13.26%. The firm’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.72 EPS. On average, equities analysts anticipate that Red Hat Inc will post 3.14 earnings per share for the current fiscal year.
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.
Recommended Story: How to track put option volume
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 MarketBeat.com's FREE daily email newsletter.