Israel Discount Bank of New York Lowers Position in Red Hat, Inc. (RHT)
Israel Discount Bank of New York trimmed its position in shares of Red Hat, Inc. (NYSE:RHT) by 9.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,772 shares of the open-source software company’s stock after selling 835 shares during the period. Israel Discount Bank of New York’s holdings in Red Hat were worth $745,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of RHT. Jericho Capital Asset Management L.P. bought a new position in Red Hat during the first quarter valued at about $92,816,000. MARSHALL WACE ASIA Ltd bought a new position in Red Hat during the first quarter valued at about $61,821,000. Marshall Wace North America L.P. bought a new position in Red Hat during the first quarter valued at about $61,821,000. TimesSquare Capital Management LLC bought a new position in Red Hat during the first quarter valued at about $58,586,000. Finally, Northwestern Mutual Investment Management Company LLC increased its stake in Red Hat by 1,271.7% during the second quarter. Northwestern Mutual Investment Management Company LLC now owns 494,347 shares of the open-source software company’s stock valued at $35,890,000 after acquiring an additional 458,307 shares during the period. Hedge funds and other institutional investors own 94.21% of the company’s stock.
Several equities analysts recently issued reports on RHT shares. Goldman Sachs Group, Inc. (The) lifted their price objective on Red Hat from $85.00 to $97.00 and gave the company a “buy” rating in a report on Wednesday, June 21st. BTIG Research decreased their price objective on Red Hat from $120.00 to $95.00 and set a “buy” rating on the stock in a report on Wednesday, June 21st. Mizuho decreased their price objective on Red Hat from $109.00 to $96.00 and set a “buy” rating on the stock in a report on Wednesday, June 21st. Deutsche Bank AG lifted their price objective on Red Hat from $100.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, June 21st. Finally, Stifel Nicolaus raised Red Hat from a “hold” rating to a “buy” rating and lifted their price objective for the company from $83.00 to $115.00 in a report on Wednesday, June 21st. Eleven analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $99.80.
Shares of Red Hat, Inc. (NYSE RHT) traded up 0.07% during mid-day trading on Friday, hitting $107.12. 1,111,518 shares of the company’s stock traded hands. The company has a market cap of $19.01 billion, a PE ratio of 73.37 and a beta of 1.24. Red Hat, Inc. has a 52 week low of $68.54 and a 52 week high of $108.09. The firm has a 50-day moving average of $101.79 and a 200 day moving average of $91.94.
Red Hat (NYSE:RHT) last issued its quarterly earnings results on Tuesday, June 20th. The open-source software company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.03. The company had revenue of $677 million for the quarter, compared to analyst estimates of $647.42 million. Red Hat had a net margin of 10.54% and a return on equity of 22.84%. Red Hat’s revenue was up 19.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.50 earnings per share. Equities research analysts predict that Red Hat, Inc. will post $2.69 EPS for the current year.
WARNING: “Israel Discount Bank of New York Lowers Position in Red Hat, Inc. (RHT)” was first posted by The Cerbat Gem and is owned by of The Cerbat Gem. If you are reading this piece on another publication, it was copied illegally and reposted in violation of U.S. & international copyright & trademark law. The original version of this piece can be viewed at https://www.thecerbatgem.com/2017/09/10/israel-discount-bank-of-new-york-lowers-position-in-red-hat-inc-rht.html.
In other news, Director William S. Kaiser sold 4,006 shares of Red Hat stock in a transaction on Friday, June 30th. The shares were sold at an average price of $96.43, for a total transaction of $386,298.58. Following the transaction, the director now owns 91,808 shares in the company, valued at $8,853,045.44. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Eric Ryan Shander sold 1,521 shares of Red Hat stock in a transaction on Wednesday, July 26th. The stock was sold at an average price of $99.98, for a total transaction of $152,069.58. Following the transaction, the chief financial officer now owns 9,913 shares in the company, valued at approximately $991,101.74. The disclosure for this sale can be found here. In the last quarter, insiders have sold 44,087 shares of company stock worth $4,265,012. 0.66% of the stock is owned by company insiders.
Red Hat Profile
Red Hat, Inc (Red Hat) provides open source software solutions, using a community-powered approach to develop and offer operating system, virtualization, management, middleware, cloud, mobile and storage technologies. Red Hat operates through three geographical segments: the Americas, including the United States, Canada and Latin America; EMEA, including Europe, Middle East and Africa, and Asia Pacific.
Receive News & Stock Ratings for Red Hat Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Red Hat Inc. and related stocks with our FREE daily email newsletter.