Quinn Opportunity Partners LLC cut its position in Red Hat Inc (NYSE:RHT) by 38.5% during the first quarter, Holdings Channel reports. The institutional investor owned 22,500 shares of the open-source software company’s stock after selling 14,099 shares during the quarter. Red Hat makes up approximately 0.6% of Quinn Opportunity Partners LLC’s investment portfolio, making the stock its 29th largest holding. Quinn Opportunity Partners LLC’s holdings in Red Hat were worth $4,111,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of RHT. Alpha Omega Wealth Management LLC bought a new stake in shares of Red Hat during the fourth quarter valued at about $25,000. Athena Capital Advisors LLC bought a new stake in shares of Red Hat during the fourth quarter valued at about $27,000. Berman Capital Advisors LLC bought a new stake in shares of Red Hat during the fourth quarter valued at about $27,000. Liberty Wealth Management LLC bought a new stake in shares of Red Hat during the fourth quarter valued at about $30,000. Finally, Legacy Financial Advisors Inc. bought a new stake in shares of Red Hat during the fourth quarter valued at about $33,000. Institutional investors and hedge funds own 89.25% of the company’s stock.
Shares of Red Hat stock traded up $0.59 during midday trading on Thursday, reaching $185.54. 226,658 shares of the company’s stock traded hands, compared to its average volume of 1,485,420. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.14. The company has a market cap of $32.97 billion, a PE ratio of 66.50, a P/E/G ratio of 4.04 and a beta of 0.52. Red Hat Inc has a 12 month low of $115.31 and a 12 month high of $185.50.
Red Hat (NYSE:RHT) last posted its quarterly earnings data on Monday, March 25th. The open-source software company reported $1.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.01 by $0.15. The business had revenue of $879.00 million during the quarter, compared to the consensus estimate of $885.64 million. Red Hat had a return on equity of 35.35% and a net margin of 12.91%. The firm’s quarterly revenue was up 13.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.91 earnings per share. On average, research analysts anticipate that Red Hat Inc will post 3.04 earnings per share for the current year.
Separately, ValuEngine cut Red Hat from a “strong-buy” rating to a “buy” rating in a research report on Monday, April 1st. Thirteen analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $168.33.
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Red Hat Profile
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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