Investors sold shares of Rite Aid Corp. (NYSE:RAD) on strength during trading hours on Wednesday. $21.07 million flowed into the stock on the tick-up and $102.15 million flowed out of the stock on the tick-down, for a money net flow of $81.08 million out of the stock. Of all stocks tracked, Rite Aid Corp. had the 0th highest net out-flow for the day. Rite Aid Corp. traded up $0.11 for the day and closed at $7.41

RAD has been the topic of several recent research reports. Credit Suisse Group AG reiterated an “outperform” rating and issued a $9.00 price objective on shares of Rite Aid Corp. in a research report on Tuesday, March 15th. Vetr lowered shares of Rite Aid Corp. from a “strong-buy” rating to a “buy” rating and set a $9.04 price objective on the stock. in a research report on Monday, April 4th. Deutsche Bank AG lowered shares of Rite Aid Corp. from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $8.09 to $9.00 in a research report on Friday, April 8th. Zacks Investment Research lowered shares of Rite Aid Corp. from a “hold” rating to a “sell” rating in a research report on Monday, April 11th. Finally, Evercore ISI lowered shares of Rite Aid Corp. from a “buy” rating to a “hold” rating in a research report on Wednesday, June 1st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $9.34.

The company has a market capitalization of $7.72 billion and a P/E ratio of 54.89. The company’s 50-day moving average price is $7.69 and its 200-day moving average price is $7.87.

Rite Aid Corp. (NYSE:RAD) last released its earnings results on Thursday, June 16th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by $0.04. During the same quarter last year, the company earned $0.02 EPS. The company earned $8.18 billion during the quarter. The company’s quarterly revenue was up 23.1% compared to the same quarter last year. On average, analysts forecast that Rite Aid Corp. will post $0.17 earnings per share for the current year.

In related news, SVP Douglas E. Donley sold 34,106 shares of Rite Aid Corp. stock in a transaction dated Wednesday, June 15th. The stock was sold at an average price of $7.77, for a total transaction of $265,003.62. Following the transaction, the senior vice president now directly owns 82,885 shares of the company’s stock, valued at $644,016.45. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Other hedge funds and institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Rite Aid Corp. by 6.7% in the fourth quarter. Vanguard Group Inc. now owns 70,299,320 shares of the company’s stock worth $551,146,000 after buying an additional 4,417,367 shares during the last quarter. Iridian Asset Management LLC CT raised its position in Rite Aid Corp. by 29.9% in the fourth quarter. Iridian Asset Management LLC CT now owns 29,603,960 shares of the company’s stock worth $232,095,000 after buying an additional 6,807,330 shares during the last quarter. Morgan Stanley raised its position in Rite Aid Corp. by 69.5% in the fourth quarter. Morgan Stanley now owns 11,706,349 shares of the company’s stock worth $91,778,000 after buying an additional 4,797,918 shares during the last quarter. CI Global Investments Inc. purchased a new position in Rite Aid Corp. during the fourth quarter worth about $59,325,000. Finally, New York State Common Retirement Fund raised its position in Rite Aid Corp. by 8.1% in the fourth quarter. New York State Common Retirement Fund now owns 3,320,915 shares of the company’s stock worth $26,036,000 after buying an additional 250,205 shares during the last quarter.

Rite Aid Corporation is a retail drugstore chain. The Company sells prescription drugs and a range of other merchandise, which are referred to as front-end products. The Company’s drugstores’ primary business is pharmacy services. It operates approximately 4,570 stores in 31 states across the country and in the District of Columbia.

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