Rackspace Hosting, Inc. (RAX) Shares Bought by Acadian Asset Management
Acadian Asset Management increased its position in shares of Rackspace Hosting, Inc. (NYSE:RAX) by 3,208,917.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,989,591 shares of the hosting company's stock after buying an additional 1,989,529 shares during the period. Acadian Asset Management owned approximately 1.41% of Rackspace Hosting worth $50,375,000 as of its most recent SEC filing.
Separately, Janus Capital Management raised its position in shares of Rackspace Hosting by 1.6% in the third quarter. Janus Capital Management now owns 825,700 shares of the hosting company's stock worth $20,378,000 after buying an additional 12,732 shares in the last quarter.
Rackspace Hosting, Inc. (NYSE:RAX) traded down 1.27% during midday trading on Wednesday, reaching $19.42. 2,941,500 shares of the company's stock traded hands. The firm has a market cap of $2.59 billion and a price-to-earnings ratio of 21.58. Rackspace Hosting, Inc. has a 1-year low of $15.05 and a 1-year high of $56.20. The stock's 50 day moving average price is $19.82 and its 200 day moving average price is $25.74.
Rackspace Hosting (NYSE:RAX) last posted its earnings results on Tuesday, February 16th. The hosting company reported $0.24 earnings per share for the quarter, topping the Zacks' consensus estimate of $0.23 by $0.01. The business had revenue of $522.80 million for the quarter, compared to the consensus estimate of $521.53 million. The company's revenue was up 10.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.26 earnings per share. Equities research analysts anticipate that Rackspace Hosting, Inc. will post $0.97 EPS for the current year.
A number of brokerages have recently commented on RAX. RBC Capital reaffirmed a "buy" rating on shares of Rackspace Hosting in a research report on Saturday, January 16th. Vetr raised shares of Rackspace Hosting from a "hold" rating to a "buy" rating and set a $20.76 price target for the company in a research report on Wednesday. Evercore ISI reissued a "hold" rating on shares of Rackspace Hosting in a research report on Tuesday, November 10th. Credit Suisse reissued a "buy" rating on shares of Rackspace Hosting in a research report on Tuesday, November 10th. Finally, Cowen and Company reissued a "buy" rating and issued a $52.00 price target (up previously from $48.00) on shares of Rackspace Hosting in a research report on Tuesday, November 10th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the stock. The stock currently ha s a consensus rating of "Buy" and a consensus price target of $33.44.
Rackspace Hosting, Inc (NYSE:RAX) operates in the managed cloud segment of the business information technology (IT) market. The Company offers a portfolio of integrated IT solutions for common business needs, including for e-commerce, Web content management, Website hosting, data services, office mail and collaboration, and private clouds.
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Source: Rackspace Hosting, Inc. (RAX) Shares Bought by Acadian Asset Management
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