Rite Aid Corporation (RAD) Holdings Reduced by SG Americas Securities LLC
SG Americas Securities LLC cut its position in Rite Aid Corporation (NYSE:RAD) by 55.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 101,512 shares of the company’s stock after selling 124,397 shares during the period. SG Americas Securities LLC’s holdings in Rite Aid Corporation were worth $299,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in RAD. DUPONT CAPITAL MANAGEMENT Corp bought a new position in shares of Rite Aid Corporation in the first quarter worth about $322,000. Commerzbank Aktiengesellschaft FI raised its stake in shares of Rite Aid Corporation by 8.6% in the first quarter. Commerzbank Aktiengesellschaft FI now owns 58,242 shares of the company’s stock worth $248,000 after acquiring an additional 4,601 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Rite Aid Corporation by 4.2% in the first quarter. Vanguard Group Inc. now owns 84,435,016 shares of the company’s stock worth $358,848,000 after acquiring an additional 3,420,318 shares during the last quarter. Atlas Brown Inc. raised its stake in shares of Rite Aid Corporation by 43.1% in the second quarter. Atlas Brown Inc. now owns 103,000 shares of the company’s stock worth $304,000 after acquiring an additional 31,000 shares during the last quarter. Finally, Pinnacle Associates Ltd. raised its stake in shares of Rite Aid Corporation by 28.6% in the first quarter. Pinnacle Associates Ltd. now owns 36,000 shares of the company’s stock worth $153,000 after acquiring an additional 8,000 shares during the last quarter. Hedge funds and other institutional investors own 52.63% of the company’s stock.
Shares of Rite Aid Corporation (NYSE RAD) opened at 2.63 on Friday. The company’s 50 day moving average is $2.36 and its 200-day moving average is $3.44. Rite Aid Corporation has a 1-year low of $2.21 and a 1-year high of $8.77. The company’s market capitalization is $2.75 billion.
Rite Aid Corporation (NYSE:RAD) last posted its quarterly earnings results on Thursday, June 29th. The company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.04). Rite Aid Corporation had a negative net margin of 0.21% and a positive return on equity of 0.52%. The company had revenue of $7.78 billion during the quarter, compared to analyst estimates of $8.29 billion. During the same quarter in the previous year, the business posted $0.02 earnings per share. The company’s revenue for the quarter was down 4.9% on a year-over-year basis. On average, equities research analysts forecast that Rite Aid Corporation will post ($0.10) EPS for the current year.
A number of equities analysts have weighed in on the stock. Guggenheim reaffirmed a “neutral” rating on shares of Rite Aid Corporation in a research note on Monday, July 3rd. Cowen and Company reaffirmed an “outperform” rating and issued a $4.70 target price on shares of Rite Aid Corporation in a research note on Monday, July 3rd. Evercore ISI assumed coverage on shares of Rite Aid Corporation in a research note on Friday, June 30th. They issued an “underperform” rating and a $2.50 target price for the company. Zacks Investment Research raised shares of Rite Aid Corporation from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 29th. Finally, Loop Capital assumed coverage on shares of Rite Aid Corporation in a research note on Monday, September 11th. They issued a “hold” rating and a $2.50 target price for the company. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. Rite Aid Corporation currently has a consensus rating of “Hold” and a consensus target price of $4.28.
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Rite Aid Corporation Company Profile
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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