Sterling Capital Management LLC Sells 11,573 Shares of Red Hat Inc (RHT)

Sterling Capital Management LLC cut its holdings in Red Hat Inc (NYSE:RHT) by 2.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 548,504 shares of the open-source software company’s stock after selling 11,573 shares during the period. Sterling Capital Management LLC owned 0.31% of Red Hat worth $65,875,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. MetLife Investment Advisors LLC bought a new position in Red Hat in the fourth quarter worth approximately $6,575,000. Gotham Asset Management LLC raised its position in shares of Red Hat by 95.2% during the 4th quarter. Gotham Asset Management LLC now owns 83,979 shares of the open-source software company’s stock valued at $10,086,000 after purchasing an additional 40,950 shares during the period. Jump Trading LLC bought a new stake in shares of Red Hat during the 4th quarter valued at $445,000. Municipal Employees Retirement System of Michigan raised its position in shares of Red Hat by 81.7% during the 4th quarter. Municipal Employees Retirement System of Michigan now owns 8,320 shares of the open-source software company’s stock valued at $999,000 after purchasing an additional 3,740 shares during the period. Finally, Castleark Management LLC raised its position in shares of Red Hat by 16.4% during the 4th quarter. Castleark Management LLC now owns 244,787 shares of the open-source software company’s stock valued at $29,399,000 after purchasing an additional 34,577 shares during the period. Institutional investors and hedge funds own 95.71% of the company’s stock.

How to Become a New Pot Stock Millionaire

Several analysts have recently commented on RHT shares. Citigroup restated a “buy” rating and set a $148.00 price objective on shares of Red Hat in a research report on Wednesday, December 13th. Barclays restated a “buy” rating and set a $145.00 price objective on shares of Red Hat in a research report on Wednesday, December 13th. Mizuho raised their price objective on shares of Red Hat from $125.00 to $140.00 and gave the company a “buy” rating in a research report on Wednesday, December 13th. Cowen restated a “buy” rating and set a $136.00 price objective on shares of Red Hat in a research report on Monday, December 11th. Finally, Zacks Investment Research upgraded shares of Red Hat from a “hold” rating to a “buy” rating and set a $140.00 price objective on the stock in a research report on Tuesday, December 5th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and twenty-two have given a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $127.94.

Red Hat Inc (NYSE RHT) opened at $152.11 on Tuesday. Red Hat Inc has a 52 week low of $81.06 and a 52 week high of $157.22. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.53. The company has a market cap of $27,288.75, a PE ratio of 83.12, a P/E/G ratio of 4.09 and a beta of 1.06.

Red Hat (NYSE:RHT) last released its quarterly earnings results on Tuesday, December 19th. The open-source software company reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.03. The firm had revenue of $747.98 million during the quarter, compared to analysts’ expectations of $734.69 million. Red Hat had a net margin of 12.14% and a return on equity of 26.23%. The firm’s revenue for the quarter was up 21.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.61 EPS. analysts predict that Red Hat Inc will post 2.08 earnings per share for the current year.

In other Red Hat news, Director William S. Kaiser sold 7,700 shares of the business’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $130.00, for a total value of $1,001,000.00. Following the completion of the sale, the director now directly owns 61,652 shares of the company’s stock, valued at approximately $8,014,760. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO James M. Whitehurst sold 5,593 shares of the business’s stock in a transaction dated Wednesday, January 17th. The shares were sold at an average price of $124.87, for a total transaction of $698,397.91. Following the completion of the sale, the chief executive officer now directly owns 373,506 shares of the company’s stock, valued at $46,639,694.22. The disclosure for this sale can be found here. Over the last three months, insiders sold 14,686 shares of company stock valued at $1,873,342. 0.66% of the stock is owned by corporate insiders.

ILLEGAL ACTIVITY WARNING: This report was published by Stock Observer and is the sole property of of Stock Observer. If you are viewing this report on another publication, it was copied illegally and reposted in violation of international copyright & trademark legislation. The original version of this report can be read at https://www.thestockobserver.com/2018/03/20/sterling-capital-management-llc-sells-11573-shares-of-red-hat-inc-rht.html.

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.

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

Receive News & Ratings for Red Hat Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Red Hat and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply