FNY Investment Advisers LLC Decreases Holdings in Red Hat Inc (RHT)

FNY Investment Advisers LLC decreased its position in shares of Red Hat Inc (NYSE:RHT) by 7.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 87,278 shares of the open-source software company’s stock after selling 7,398 shares during the quarter. Red Hat accounts for approximately 5.5% of FNY Investment Advisers LLC’s investment portfolio, making the stock its 5th largest holding. FNY Investment Advisers LLC’s holdings in Red Hat were worth $15,945,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Alpha Omega Wealth Management LLC purchased a new stake in shares of Red Hat during the fourth quarter worth approximately $25,000. Athena Capital Advisors LLC purchased a new stake in shares of Red Hat during the fourth quarter worth approximately $27,000. Berman Capital Advisors LLC purchased a new stake in shares of Red Hat during the fourth quarter worth approximately $27,000. Liberty Wealth Management LLC purchased a new stake in shares of Red Hat during the fourth quarter worth approximately $30,000. Finally, Legacy Financial Advisors Inc. purchased a new stake in shares of Red Hat during the fourth quarter worth approximately $33,000. 88.75% of the stock is owned by hedge funds and other institutional investors.

Shares of Red Hat stock opened at $184.65 on Friday. Red Hat Inc has a 52 week low of $115.31 and a 52 week high of $184.66. The firm has a market capitalization of $32.74 billion, a PE ratio of 66.18, a price-to-earnings-growth ratio of 4.01 and a beta of 0.52. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.14.

Red Hat (NYSE:RHT) last announced its quarterly earnings results on Monday, March 25th. The open-source software company reported $1.16 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.01 by $0.15. Red Hat had a return on equity of 35.35% and a net margin of 12.91%. The business had revenue of $879.00 million for the quarter, compared to analyst estimates of $885.64 million. During the same quarter in the prior year, the company posted $0.91 EPS. The company’s quarterly revenue was up 13.8% on a year-over-year basis. Equities analysts forecast that Red Hat Inc will post 3.04 earnings per share for the current fiscal year.

Separately, ValuEngine cut Red Hat from a “strong-buy” rating to a “buy” rating in a research report on Monday, April 1st. Thirteen investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $168.33.

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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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