Trexquant Investment LP Lowers Stake in Rackspace Hosting, Inc. (RAX)
A number of other large investors also recently modified their holdings of the company. Globeflex Capital L P boosted its stake in shares of Rackspace Hosting by 31.2% in the fourth quarter. Globeflex Capital L P now owns 45,822 shares of the hosting company's stock valued at $1,160,000 after buying an additional 10,885 shares in the last quarter. Profund Advisors LLC boosted its stake in shares of Rackspace Hosting by 42.8% in the fourth quarter. Profund Advisors LLC now owns 59,364 shares of the hosting company's stock valued at $1,503,000 after buying an additional 17,798 shares in the last quarter. Liberty Mutual Group Asset Management Inc. boosted its stake in shares of Rackspace Hosting by 43.3% in the fourth quarter. Liberty Mutual Group Asset Management Inc. now owns 73,834 shares of the hosting company's stock valued at $1,871,000 after buying an additional 22,315 shares in the last quarter. Engineers Gate Manager LP boosted its stake in shares of Rackspace H osting by 43.9% in the fourth quarter. Engineers Gate Manager LP now owns 83,125 shares of the hosting company's stock valued at $2,105,000 after buying an additional 25,356 shares in the last quarter. Finally, Cornerstone Capital Management Holdings LLC. boosted its stake in shares of Rackspace Hosting by 170.7% in the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 107,429 shares of the hosting company's stock valued at $2,720,000 after buying an additional 67,737 shares in the last quarter.
Rackspace Hosting, Inc. (NYSE:RAX) traded up 2.16% during mid-day trading on Thursday, hitting $25.12. 1,439,653 shares of the stock were exchanged. Rackspace Hosting, Inc. has a 52-week low of $15.05 and a 52-week high of $56.20. The stock has a market cap of $3.29 billion and a PE ratio of 27.91. The stock's 50 day moving average is $22.07 and its 200 day moving average is $23.55.
Rackspace Hosting (NYSE:RAX) last released its earnings results on Tuesday, February 16th. The hosting company reported $0.24 EPS for the quarter, beating the Thomson Reuters' consensus estimate of $0.23 by $0.01. During the same quarter last year, the company posted $0.26 earnings per share. The business had revenue of $522.80 million for the quarter, compared to analysts' expectations of $521.53 million. The business's quarterly revenue was up 10.7% compared to the same quarter last year. Analysts forecast that Rackspace Hosting, Inc. will post $0.96 EPS for the current fiscal year.
Several brokerages recently issued reports on RAX. Bank of America restated a "buy" rating on shares of Rackspace Hosting in a report on Sunday, March 27th. RBC Capital dropped their price target on shares of Rackspace Hosting from $31.00 to $26.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 17th. Vetr cut shares of Rackspace Hosting from a "buy" rating to a "hold" rating and set a $24.45 price target on the stock. in a research note on Wednesday, April 6th. JPMorgan Chase & Co. dropped their price target on shares of Rackspace Hosting from $34.00 to $22.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 17th. Finally, Barclays cut shares of Rackspace Hosting from an "overweight" rating to an "equal weight" rating and dropped their price target for the stock from $35.00 to $21.00 in a research note on Wednesday, February 17th. Two investment analysts have rated the stock wi th a sell rating, twelve have assigned a hold rating, nine have given a buy rating and three have given a strong buy rating to the company's stock. The stock presently has a consensus rating of "Buy" and a consensus target price of $33.48.
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: Trexquant Investment LP Lowers Stake in Rackspace Hosting, Inc. (RAX)
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