Today’s Market Runner: Red Hat Inc (NYSE:RHT) Institutional Investors Sentiment

November 28, 2016 - By Vivian Park   ·   0 Comments

Today's Market Runner: Red Hat Inc (NYSE:RHT) Institutional Investors Sentiment

Sentiment for Red Hat Inc (NYSE:RHT)

Red Hat Inc (NYSE:RHT) institutional sentiment decreased to 1.04 in 2016 Q2. Its down -0.04, from 1.08 in 2016Q1. The ratio worsened, as 215 hedge funds increased and opened new stock positions, while 199 cut down and sold holdings in Red Hat Inc. The hedge funds in our partner’s database reported: 162.52 million shares, down from 165.27 million shares in 2016Q1. Also, the number of hedge funds holding Red Hat Inc in their top 10 stock positions was flat from 8 to 8 for the same number . Sold All: 32 Reduced: 167 Increased: 156 New Position: 59.

Red Hat, Inc. provides open source software solutions, using a community-powered approach to develop and offer operating system, virtualization, management, middleware, cloud, mobile and storage technologies. The company has a market cap of $14.08 billion. Red Hat operates through three geographical divisions: the Americas, including the United States, Canada and Latin America; EMEA, including Europe, Middle East and Africa, and Asia Pacific. It has a 65.81 P/E ratio. The Company’s services and products include infrastructure-related offerings, application development-related and other technology offerings, and consulting, support and training services.

About 1.05 million shares traded hands or 3.96% up from the average. Red Hat Inc (NYSE:RHT) has risen 5.83% since April 25, 2016 and is uptrending. It has underperformed by 0.19% the S&P500.

Analysts await Red Hat Inc (NYSE:RHT) to report earnings on December, 15. They expect $0.37 EPS, up 19.35% or $0.06 from last year’s $0.31 per share. RHT’s profit will be $66.48M for 52.95 P/E if the $0.37 EPS becomes a reality. After $0.37 actual EPS reported by Red Hat Inc for the previous quarter, Wall Street now forecasts 0.00% EPS growth.

According to Zacks Investment Research, “Red Hat Inc. is a leading developer and provider of open source software and services, including the Red Hat Linux operating system. Unlike proprietary software, open source software has publicly available source code and can be copied, modified and distributed with minimal restrictions. The web site, REDHAT.COM, is a leading online source of information and news about open source software and one of the largest online communities of open source software users and developers.”

Gagnon Advisors Llc holds 6.73% of its portfolio in Red Hat Inc for 107,587 shares. Gagnon Securities Llc owns 148,578 shares or 5.16% of their US portfolio. Moreover, Df Dent & Co Inc has 3.93% invested in the company for 1.93 million shares. The Connecticut-based Sustainable Growth Advisers Lp has invested 3.93% in the stock. Rail, a Alabama-based fund reported 220,364 shares.#img1#

Red Hat Inc (NYSE:RHT) Ratings Coverage

Ratings analysis reveals 90% of Red Hat’s analysts are positive. Out of 20 Wall Street analysts rating Red Hat, 18 give it “Buy”, 0 “Sell” rating, while 2 recommend “Hold”. The lowest target is $75 while the high is $98. The stock’s average target of $90.82 is 15.90% above today’s ($78.36) share price. RHT was included in 36 notes of analysts from August 25, 2015. As per Friday, January 8, the company rating was initiated by BMO Capital Markets. The firm has “Overweight” rating by JP Morgan given on Tuesday, September 22. The stock of Red Hat Inc (NYSE:RHT) has “Neutral” rating given on Wednesday, March 23 by Bank of America. Jefferies maintained Red Hat Inc (NYSE:RHT) on Thursday, September 22 with “Hold” rating. On Tuesday, December 8 the stock rating was maintained by RBC Capital Markets with “Outperform”. On Friday, December 18 the stock rating was maintained by Stifel Nicolaus with “Buy”. On Thursday, September 22 the stock rating was maintained by UBS with “Buy”. The rating was downgraded by Cowen & Co on Thursday, October 22 to “Market Perform”. Citigroup maintained the stock with “Buy” rating in Thursday, September 22 report. The stock of Red Hat Inc (NYSE:RHT) earned “Buy” rating by Drexel Hamilton on Friday, October 9.

RHT Company Profile

Red Hat, Inc. (Red Hat), incorporated on October 17, 1998, is a well-known provider of open source software solutions, using a community-powered approach to develop and offer operating system, virtualization, management, middleware, cloud, mobile and storage technologies. The Firm operates through three geographical divisions: the Americas (the United States, Canada and Latin America); Europe, Middle East and Africa (EMEA), and Asia Pacific. The Company’s services and products include infrastructure-related offerings, application development-related and other technology offerings, and consulting, support and training services.

More notable recent Red Hat Inc (NYSE:RHT) news were published by: Fool.com which released: “How Red Hat, Inc.’s Second Quarter Stunned the Street” on September 23, 2016, also Profitconfidential.com with their article: “Red Hat Inc: Why RHT Stock Can Pop 40%” published on October 16, 2016, Forbes.com published: “Red Hat Stock Sees Short Interest Make 21% Move” on October 26, 2016. More interesting news about Red Hat Inc (NYSE:RHT) were released by: Fool.com and their article: “3 Things Red Hat Inc.’s Management Wants You to Know” published on June 27, 2016 as well as Fool.com‘s news article titled: “Is Red Hat Inc. Stock on Your Buy List? It Should Be” with publication date: July 08, 2016.

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By Vivian Park

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