Could Red Hat Inc Gain Strenght? Option Traders Don’t Think So

 Could Red Hat Inc Gain Strenght? Option Traders Don't Think So

In today’s session Red Hat Inc (RHT) recorded an unusually high (537) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the October, 2016 put, expecting serious RHT decrease. With 537 contracts traded and 1154 open interest for the Oct, 16 contract, it seems this is a quite bearish bet. The option with symbol: RHT161021P00077500 closed last at: $0.95 or 35.7% up. About 106,654 shares traded hands. Red Hat Inc (NYSE:RHT) has risen 16.24% since March 7, 2016 and is uptrending. It has outperformed by 8.65% the S&P500.

Red Hat Inc (NYSE:RHT) Ratings Coverage

Out of 20 analysts covering Red Hat (NYSE:RHT), 18 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 90% are positive. $98 is the highest target while $75 is the lowest. The $90.82 average target is 15.41% above today’s ($78.69) stock price. Red Hat has been the topic of 36 analyst reports since August 25, 2015 according to StockzIntelligence Inc. Stifel Nicolaus maintained Red Hat Inc (NYSE:RHT) on Friday, December 18 with “Buy” rating. The stock of Red Hat Inc (NYSE:RHT) earned “Buy” rating by Drexel Hamilton on Friday, October 9. On Friday, December 18 the stock rating was maintained by Needham with “Buy”. The stock of Red Hat Inc (NYSE:RHT) has “Outperform” rating given on Friday, December 18 by RBC Capital Markets. As per Tuesday, January 26, the company rating was downgraded by Bank of America. JP Morgan maintained the shares of RHT in a report on Tuesday, September 22 with “Overweight” rating. Deutsche Bank upgraded the shares of RHT in a report on Tuesday, November 3 to “Buy” rating. The stock of Red Hat Inc (NYSE:RHT) earned “Buy” rating by BTIG Research on Thursday, September 10. The stock has “Outperform” rating given by BMO Capital Markets on Friday, January 8. The stock of Red Hat Inc (NYSE:RHT) has “Outperform” rating given on Thursday, September 22 by BMO Capital Markets.

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.”

Insitutional Activity: The institutional sentiment decreased to 1.08 in Q2 2016. Its down 0.01, from 1.09 in 2016Q1. The ratio fall, as 32 funds sold all Red Hat Inc shares owned while 167 reduced positions. 59 funds bought stakes while 156 increased positions. They now own 162.52 million shares or 1.66% less from 165.27 million shares in 2016Q1.
Cadence Cap Mngmt Ltd Limited Liability Company has invested 0.27% of its portfolio in Red Hat Inc (NYSE:RHT). Bp Public Ltd Com holds 0.06% or 21,000 shares in its portfolio. Pine River Mgmt Lp accumulated 196,900 shares or 0.17% of the stock. Trust Comm Of Toledo Na Oh last reported 0.12% of its portfolio in the stock. Timber Hill Lc holds 0.01% of its portfolio in Red Hat Inc (NYSE:RHT) for 24,435 shares. Rhumbline Advisers reported 302,497 shares or 0.07% of all its holdings. Natl Bank Of New York Mellon Corp last reported 1.98M shares in the company. First Quadrant Limited Partnership Ca has invested 0% of its portfolio in Red Hat Inc (NYSE:RHT). Renaissance Techs Ltd Liability Co accumulated 0.06% or 434,665 shares. Pictet Asset Limited holds 92,552 shares or 0.03% of its portfolio. Texas Permanent School Fund owns 58,866 shares or 0.06% of their US portfolio. Qcm Cayman has 2,979 shares for 0.09% of their US portfolio. Balyasny Asset Limited Liability holds 3,381 shares or 0% of its portfolio. First Fincl In accumulated 11,488 shares or 0.48% of the stock. Gagnon accumulated 107,587 shares or 6.73% of the stock.

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 $14.11 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 66.08 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.

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 recent Red Hat Inc (NYSE:RHT) news were published by: Fool.com which released: “Why Red Hat, Inc. Gained 11% in September” on October 07, 2016. Also Fool.com published the news titled: “How Red Hat, Inc.’s Second Quarter Stunned the Street” on September 23, 2016. 247Wallst.com‘s news article titled: “Massive Tech and Energy Trades Highlight Insider Selling: Facebook, Oasis …” with publication date: October 09, 2016 was also an interesting one.

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