Red Hat, Inc. (RHT) Shares Bought by Comerica Bank

Comerica Bank increased its position in shares of Red Hat, Inc. (NYSE:RHT) by 1.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 105,234 shares of the open-source software company’s stock after buying an additional 1,321 shares during the period. Comerica Bank owned approximately 0.06% of Red Hat worth $10,465,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of RHT. Legal & General Group Plc increased its position in shares of Red Hat by 3.8% in the second quarter. Legal & General Group Plc now owns 841,773 shares of the open-source software company’s stock worth $80,600,000 after buying an additional 31,131 shares during the period. State of Wisconsin Investment Board increased its position in shares of Red Hat by 18.4% in the second quarter. State of Wisconsin Investment Board now owns 215,746 shares of the open-source software company’s stock worth $20,658,000 after buying an additional 33,542 shares during the period. WASHINGTON TRUST Co bought a new position in shares of Red Hat during the second quarter worth $16,681,000. Dupont Capital Management Corp increased its position in shares of Red Hat by 274.1% in the second quarter. Dupont Capital Management Corp now owns 54,850 shares of the open-source software company’s stock worth $5,252,000 after buying an additional 40,190 shares during the period. Finally, Outfitter Advisors LTD. increased its position in shares of Red Hat by 0.9% in the second quarter. Outfitter Advisors LTD. now owns 11,120 shares of the open-source software company’s stock worth $1,065,000 after buying an additional 100 shares during the period. Institutional investors own 93.23% of the company’s stock.

Red Hat, Inc. (RHT) opened at 100.66 on Friday. Red Hat, Inc. has a 52 week low of $68.54 and a 52 week high of $101.82. The stock has a market capitalization of $17.86 billion, a PE ratio of 68.95 and a beta of 1.26. The firm has a 50 day moving average of $98.27 and a 200-day moving average of $89.09.

Red Hat (NYSE:RHT) last released its earnings results on Tuesday, June 20th. The open-source software company reported $0.56 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.53 by $0.03. Red Hat had a net margin of 10.54% and a return on equity of 22.84%. The business had revenue of $677 million during the quarter, compared to analyst estimates of $647.42 million. During the same quarter in the prior year, the firm earned $0.50 earnings per share. The company’s revenue for the quarter was up 19.2% compared to the same quarter last year. On average, equities analysts predict that Red Hat, Inc. will post $2.66 EPS for the current year.

TRADEMARK VIOLATION NOTICE: “Red Hat, Inc. (RHT) Shares Bought by Comerica Bank” was first posted by Community Financial News and is the property of of Community Financial News. If you are viewing this news story on another publication, it was stolen and reposted in violation of United States and international trademark and copyright law. The original version of this news story can be viewed at https://www.com-unik.info/2017/08/18/red-hat-inc-rht-shares-bought-by-comerica-bank.html.

A number of research analysts recently weighed in on the stock. MKM Partners restated a “neutral” rating and set a $98.00 price objective (up previously from $82.00) on shares of Red Hat in a research report on Friday, June 23rd. Zacks Investment Research upgraded shares of Red Hat from a “hold” rating to a “buy” rating and set a $111.00 price target on the stock in a research report on Friday, June 23rd. Piper Jaffray Companies initiated coverage on shares of Red Hat in a research report on Friday, June 23rd. They issued a “neutral” rating and a $100.00 price target on the stock. Jefferies Group LLC reiterated a “hold” rating on shares of Red Hat in a research report on Thursday, June 22nd. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $112.00 price target (up from $95.00) on shares of Red Hat in a research report on Thursday, June 22nd. Nine research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $98.72.

In related news, Director William S. Kaiser sold 4,006 shares of the company’s stock in a transaction dated Friday, June 30th. The shares were sold at an average price of $96.43, for a total value of $386,298.58. Following the completion of the sale, the director now owns 91,808 shares of the company’s stock, valued at $8,853,045.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Eric Ryan Shander sold 1,521 shares of the company’s stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $99.98, for a total transaction of $152,069.58. Following the completion of the sale, the chief financial officer now directly owns 9,913 shares of the company’s stock, valued at approximately $991,101.74. The disclosure for this sale can be found here. Insiders sold 130,549 shares of company stock valued at $12,133,438 in the last three months. 0.66% of the stock is currently owned by insiders.

Red Hat Company 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.

Want to see what other hedge funds are holding RHT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Red Hat, Inc. (NYSE:RHT).

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

What are top analysts saying about Red Hat Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Red Hat Inc. and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit