Red Hat Target of Unusually Large Options Trading (NYSE:RHT)

Red Hat Inc (NYSE:RHT) was the target of some unusual options trading activity on Thursday. Traders bought 10,018 put options on the stock. This is an increase of 1,247% compared to the average volume of 744 put options.

Shares of Red Hat stock remained flat at $$187.71 during trading on Friday. 999,351 shares of the stock traded hands, compared to its average volume of 1,591,676. Red Hat has a one year low of $115.31 and a one year high of $189.14. The stock has a market capitalization of $33.43 billion, a price-to-earnings ratio of 67.28, a PEG ratio of 3.98 and a beta of 0.45. The firm’s fifty day moving average price is $186.50. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.11.

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

Several equities research analysts recently commented on the stock. ValuEngine raised shares of Zynerba Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Monday, April 1st. Robert W. Baird lowered their price target on shares of Bed Bath & Beyond from $18.00 to $13.00 and set a “neutral” rating on the stock in a research note on Thursday. Finally, William Blair reiterated a “buy” rating on shares of Dynavax Technologies in a research note on Friday, June 21st. Eleven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $179.37.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc boosted its holdings in Red Hat by 0.6% during the third quarter. Vanguard Group Inc now owns 18,703,926 shares of the open-source software company’s stock valued at $2,548,970,000 after acquiring an additional 103,057 shares during the period. Chicago Equity Partners LLC lifted its stake in shares of Red Hat by 22.1% in the fourth quarter. Chicago Equity Partners LLC now owns 2,815 shares of the open-source software company’s stock valued at $494,000 after buying an additional 510 shares during the period. Westpac Banking Corp lifted its stake in shares of Red Hat by 123.6% in the fourth quarter. Westpac Banking Corp now owns 27,800 shares of the open-source software company’s stock valued at $4,883,000 after buying an additional 15,369 shares during the period. Rational Advisors LLC lifted its stake in shares of Red Hat by 1,550.0% in the fourth quarter. Rational Advisors LLC now owns 1,089 shares of the open-source software company’s stock valued at $191,000 after buying an additional 1,023 shares during the period. Finally, Eaton Vance Management lifted its stake in shares of Red Hat by 15.0% in the fourth quarter. Eaton Vance Management now owns 135,532 shares of the open-source software company’s stock valued at $23,805,000 after buying an additional 17,687 shares during the period. Institutional investors and hedge funds own 85.75% of the company’s stock.

Red Hat Company 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.

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