Red Hat Inc (RHT) Position Raised by ARP Americas LP

ARP Americas LP boosted its stake in Red Hat Inc (NYSE:RHT) by 175.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 181,381 shares of the open-source software company’s stock after purchasing an additional 115,428 shares during the quarter. Red Hat comprises about 3.2% of ARP Americas LP’s investment portfolio, making the stock its 13th largest holding. ARP Americas LP’s holdings in Red Hat were worth $33,138,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Athena Capital Advisors LLC bought a new stake in Red Hat in the fourth quarter valued at about $27,000. Berman Capital Advisors LLC bought a new stake in Red Hat in the fourth quarter valued at about $27,000. Liberty Wealth Management LLC bought a new stake in Red Hat in the fourth quarter valued at about $30,000. Lindbrook Capital LLC bought a new stake in Red Hat in the fourth quarter valued at about $47,000. Finally, Reilly Financial Advisors LLC increased its holdings in Red Hat by 40.8% in the fourth quarter. Reilly Financial Advisors LLC now owns 276 shares of the open-source software company’s stock valued at $48,000 after purchasing an additional 80 shares during the last quarter. Institutional investors and hedge funds own 93.92% of the company’s stock.

Separately, ValuEngine downgraded Red Hat from a “strong-buy” rating to a “buy” rating in a report on Monday, April 1st. Thirteen equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Red Hat has an average rating of “Hold” and an average price target of $168.33.

Shares of Red Hat stock opened at $186.01 on Friday. Red Hat Inc has a 1 year low of $115.31 and a 1 year high of $186.30. The stock has a market capitalization of $33.10 billion, a price-to-earnings ratio of 66.67, a price-to-earnings-growth ratio of 4.09 and a beta of 0.52. The company has a quick ratio of 1.27, a current 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 earnings per share (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 company had revenue of $879.00 million during the quarter, compared to the consensus estimate of $885.64 million. During the same period in the prior year, the company earned $0.91 earnings per share. The company’s revenue for the quarter was up 13.8% compared to the same quarter last year. On average, research analysts predict that Red Hat Inc will post 3.04 EPS for the current fiscal year.

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Red Hat Company 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.

Further Reading: Are sell-side analysts objective?

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

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