Red Hat Inc (NYSE:RHT) is One68 Global Capital LLC’s Largest Position

One68 Global Capital LLC boosted its position in Red Hat Inc (NYSE:RHT) by 45.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 111,905 shares of the open-source software company’s stock after purchasing an additional 34,828 shares during the period. Red Hat comprises 26.5% of One68 Global Capital LLC’s investment portfolio, making the stock its biggest position. One68 Global Capital LLC owned approximately 0.06% of Red Hat worth $21,011,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP boosted its stake in Red Hat by 2.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 473,429 shares of the open-source software company’s stock worth $83,153,000 after purchasing an additional 10,823 shares during the period. Mercer Global Advisors Inc. ADV bought a new position in Red Hat in the 1st quarter worth approximately $382,000. World Asset Management Inc boosted its stake in Red Hat by 1.0% in the 1st quarter. World Asset Management Inc now owns 11,749 shares of the open-source software company’s stock worth $2,147,000 after purchasing an additional 120 shares during the period. Daiwa Securities Group Inc. boosted its stake in Red Hat by 2.4% in the 1st quarter. Daiwa Securities Group Inc. now owns 6,897 shares of the open-source software company’s stock worth $1,260,000 after purchasing an additional 160 shares during the period. Finally, Arrow Financial Corp boosted its stake in Red Hat by 3.4% in the 1st quarter. Arrow Financial Corp now owns 4,110 shares of the open-source software company’s stock worth $750,000 after purchasing an additional 135 shares during the period. 85.75% of the stock is owned by hedge funds and other institutional investors.

Several research analysts have weighed in on RHT shares. Robert W. Baird restated a “not rated” rating on shares of Red Hat in a research note on Thursday, July 11th. William Blair downgraded Red Hat from an “outperform” rating to a “market perform” rating and set a $188.30 target price for the company. in a research report on Friday, June 21st. Eleven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $179.37.

RHT remained flat at $$187.71 during trading on Friday. The company had a trading volume of 999,351 shares, compared to its average volume of 1,591,676. The company has a market capitalization of $33.43 billion, a PE ratio of 67.28, a P/E/G ratio of 3.98 and a beta of 0.45. The business’s 50 day moving average is $187.71 and its 200 day moving average is $184.53. Red Hat Inc has a 12 month low of $115.31 and a 12 month 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 quarterly earnings results on Thursday, June 20th. The open-source software company reported $1.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.86 by $0.14. The company had revenue of $934.10 million during the quarter, compared to the consensus estimate of $931.58 million. Red Hat had a return on equity of 36.67% and a net margin of 13.26%. Red Hat’s revenue was up 14.8% on a year-over-year basis. During the same period last year, the company earned $0.72 earnings per share. On average, equities research analysts expect 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.

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

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