S. Muoio & CO. LLC Has $5.77 Million Stock Position in Red Hat Inc (NYSE:RHT)

S. Muoio & CO. LLC boosted its stake in Red Hat Inc (NYSE:RHT) by 207.1% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 30,710 shares of the open-source software company’s stock after buying an additional 20,710 shares during the period. Red Hat accounts for 4.7% of S. Muoio & CO. LLC’s portfolio, making the stock its 2nd biggest holding. S. Muoio & CO. LLC’s holdings in Red Hat were worth $5,766,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in RHT. Advisory Alpha LLC bought a new position in Red Hat in the 1st quarter valued at about $32,000. Glassman Wealth Services boosted its position in shares of Red Hat by 58.0% during the 1st quarter. Glassman Wealth Services now owns 207 shares of the open-source software company’s stock valued at $38,000 after purchasing an additional 76 shares in the last quarter. Cornerstone Advisors Inc. boosted its position in shares of Red Hat by 26.4% during the 1st quarter. Cornerstone Advisors Inc. now owns 297 shares of the open-source software company’s stock valued at $54,000 after purchasing an additional 62 shares in the last quarter. Trustcore Financial Services LLC bought a new position in shares of Red Hat during the 1st quarter valued at about $73,000. Finally, Smithfield Trust Co. boosted its position in shares of Red Hat by 19.3% during the 1st quarter. Smithfield Trust Co. now owns 617 shares of the open-source software company’s stock valued at $113,000 after purchasing an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 85.75% of the company’s stock.

RHT stock remained flat at $$187.71 during mid-day trading on Friday. 999,351 shares of the company’s stock were exchanged, compared to its average volume of 1,591,676. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.23 and a current ratio of 1.23. Red Hat Inc has a 52 week low of $115.31 and a 52 week high of $189.14. The stock has a market capitalization of $33.43 billion, a P/E ratio of 67.28, a P/E/G ratio of 3.98 and a beta of 0.45. The stock has a 50-day moving average of $187.74 and a two-hundred day moving average of $184.27.

Red Hat (NYSE:RHT) last posted its quarterly earnings data on Thursday, June 20th. The open-source software company reported $1.00 EPS for the quarter, beating analysts’ consensus estimates of $0.86 by $0.14. Red Hat had a net margin of 13.26% and a return on equity of 36.67%. The company had revenue of $934.10 million during the quarter, compared to analyst estimates of $931.58 million. During the same period in the prior year, the firm earned $0.72 earnings per share. The business’s quarterly revenue was up 14.8% on a year-over-year basis. Research analysts forecast that Red Hat Inc will post 3.14 earnings per share for the current year.

Several equities analysts have recently weighed in on RHT shares. William Blair lowered shares of Red Hat from an “outperform” rating to a “market perform” rating and set a $188.30 price objective for the company. in a research report on Friday, June 21st. Robert W. Baird restated a “not rated” rating on shares of Red Hat in a research report on Thursday, July 11th. Eleven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $179.37.

Red Hat 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: Gross Domestic Product (GDP)

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.