Quantitative Systematic Strategies LLC Raises Position in Rite Aid Corp. (RAD)
Quantitative Systematic Strategies LLC increased its position in Rite Aid Corp. (NYSE:RAD) by 30.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 25,722 shares of the company’s stock after buying an additional 6,030 shares during the period. Quantitative Systematic Strategies LLC’s holdings in Rite Aid Corp. were worth $197,000 as of its most recent SEC filing.
Other large investors also recently made changes to their positions in the company. Concorde Asset Management LLC acquired a new position in Rite Aid Corp. during the second quarter valued at $102,000. LS Investment Advisors LLC raised its position in Rite Aid Corp. by 28.1% in the second quarter. LS Investment Advisors LLC now owns 18,450 shares of the company’s stock valued at $138,000 after buying an additional 4,046 shares during the last quarter. Grimes & Company Inc. raised its position in Rite Aid Corp. by 36.8% in the second quarter. Grimes & Company Inc. now owns 18,600 shares of the company’s stock valued at $139,000 after buying an additional 5,000 shares during the last quarter. Capstone Asset Management Co. raised its position in Rite Aid Corp. by 1.4% in the second quarter. Capstone Asset Management Co. now owns 21,650 shares of the company’s stock valued at $162,000 after buying an additional 290 shares during the last quarter. Finally, Hartford Investment Management Co. raised its position in Rite Aid Corp. by 1.6% in the second quarter. Hartford Investment Management Co. now owns 22,090 shares of the company’s stock valued at $165,000 after buying an additional 347 shares during the last quarter. 62.97% of the stock is currently owned by institutional investors.
Rite Aid Corp. (NYSE:RAD) traded down 0.28% during mid-day trading on Monday, hitting $7.04. The stock had a trading volume of 9,271,368 shares. The stock’s 50-day moving average is $7.71 and its 200 day moving average is $7.65. Rite Aid Corp. has a 52 week low of $6.02 and a 52 week high of $8.74. The company has a market capitalization of $7.35 billion, a P/E ratio of 54.57 and a beta of 1.77.
Rite Aid Corp. (NYSE:RAD) last posted its quarterly earnings results on Thursday, September 22nd. The company reported $0.03 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.03. Rite Aid Corp. had a return on equity of 32.41% and a net margin of 0.41%. The business had revenue of $8 million for the quarter. During the same quarter in the prior year, the business earned $0.02 earnings per share. The firm’s revenue for the quarter was up 4.8% on a year-over-year basis. Equities analysts forecast that Rite Aid Corp. will post $0.14 earnings per share for the current fiscal year.
RAD has been the topic of several recent analyst reports. Zacks Investment Research lowered Rite Aid Corp. from a “hold” rating to a “sell” rating in a research report on Thursday, September 29th. Vetr raised Rite Aid Corp. from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 30th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $9.00.
About Rite Aid Corp.
Rite Aid Corporation is a retail drugstore chain. The Company’s segments include Retail Pharmacy and Pharmacy Services. The Company operates under The Rite Aid name. It operates approximately 4,560 stores in over 30 states across the country and in the District of Columbia. The Company’s Retail Pharmacy segment consists of Rite Aid stores, RediClinic and Health Dialog.
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