SG Americas Securities LLC Cuts Position in Red Hat Inc (NYSE:RHT)

SG Americas Securities LLC lessened its holdings in Red Hat Inc (NYSE:RHT) by 32.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 123,612 shares of the open-source software company’s stock after selling 58,677 shares during the period. SG Americas Securities LLC owned about 0.07% of Red Hat worth $23,209,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Cornerstone Advisors Inc. boosted its holdings in Red Hat by 26.4% in the 1st 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 last quarter. 6 Meridian boosted its holdings in Red Hat by 2.3% in the 2nd quarter. 6 Meridian now owns 2,767 shares of the open-source software company’s stock worth $520,000 after buying an additional 62 shares during the last quarter. Glassman Wealth Services boosted its holdings in Red Hat by 58.0% in the 1st 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 last quarter. Smithfield Trust Co. boosted its holdings in Red Hat by 19.3% in the 1st quarter. Smithfield Trust Co. now owns 617 shares of the open-source software company’s stock worth $113,000 after buying an additional 100 shares during the last quarter. Finally, Greenleaf Trust boosted its holdings in Red Hat by 7.2% in the 1st quarter. Greenleaf Trust now owns 1,511 shares of the open-source software company’s stock worth $276,000 after buying an additional 101 shares during the last quarter. Hedge funds and other institutional investors own 85.75% of the company’s stock.

RHT has been the topic of several research analyst reports. Robert W. Baird reiterated a “not rated” rating on shares of Red Hat in a report on Thursday, July 11th. William Blair cut Red Hat from an “outperform” rating to a “market perform” rating and set a $188.30 price objective on the stock. in a report on Friday, June 21st. Eleven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $179.37.

Shares of Red Hat stock remained flat at $$187.71 on Thursday. The stock had a trading volume of 999,351 shares, compared to its average volume of 1,591,676. The stock has a market cap of $33.43 billion, a PE ratio of 67.28, a PEG ratio of 3.98 and a beta of 0.45. The firm’s fifty day moving average is $187.74. Red Hat Inc has a fifty-two week low of $115.31 and a fifty-two week high of $189.14. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.11.

Red Hat (NYSE:RHT) last issued its earnings results on Thursday, June 20th. The open-source software company reported $1.00 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.86 by $0.14. The business had revenue of $934.10 million for 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 business’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.72 EPS. As a group, research analysts anticipate that Red Hat Inc will post 3.14 EPS for the current year.

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

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