First Manhattan Co. Invests $321,000 in Red Hat Inc (NYSE:RHT)

First Manhattan Co. acquired a new position in shares of Red Hat Inc (NYSE:RHT) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 1,759 shares of the open-source software company’s stock, valued at approximately $321,000.

Other institutional investors also recently made changes to their positions in the company. Dimensional Fund Advisors LP lifted its position in shares of Red Hat by 7.4% during the 3rd quarter. Dimensional Fund Advisors LP now owns 462,606 shares of the open-source software company’s stock worth $63,037,000 after buying an additional 31,904 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Red Hat by 127.9% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,672 shares of the open-source software company’s stock worth $501,000 after buying an additional 2,061 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Red Hat by 7.1% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 217,335 shares of the open-source software company’s stock worth $29,619,000 after buying an additional 14,482 shares during the last quarter. Pacer Advisors Inc. lifted its position in shares of Red Hat by 22.2% during the 3rd quarter. Pacer Advisors Inc. now owns 9,959 shares of the open-source software company’s stock worth $1,357,000 after buying an additional 1,807 shares during the last quarter. Finally, Vident Investment Advisory LLC lifted its position in shares of Red Hat by 18.9% during the 3rd quarter. Vident Investment Advisory LLC now owns 3,704 shares of the open-source software company’s stock worth $505,000 after buying an additional 589 shares during the last quarter. Institutional investors own 88.75% of the company’s stock.

Shares of RHT traded up $0.13 during mid-day trading on Friday, reaching $184.78. 1,086,147 shares of the company were exchanged, compared to its average volume of 1,286,519. Red Hat Inc has a 52 week low of $115.31 and a 52 week high of $185.13. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.27 and a quick ratio of 1.27. The company has a market capitalization of $32.85 billion, a price-to-earnings ratio of 66.23, a price-to-earnings-growth ratio of 4.05 and a beta of 0.52.

Red Hat (NYSE:RHT) last released its earnings results on Monday, March 25th. The open-source software company reported $1.16 EPS for the quarter, topping the 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 during the quarter, compared to analysts’ expectations of $885.64 million. During the same quarter last year, the firm posted $0.91 earnings per share. The firm’s revenue was up 13.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Red Hat Inc will post 3.04 EPS for the current year.

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