Private Advisor Group LLC Has $102,000 Position in Rite Aid Corporation (RAD)
Private Advisor Group LLC trimmed its stake in shares of Rite Aid Corporation (NYSE:RAD) by 11.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 43,705 shares of the company’s stock after selling 5,608 shares during the period. Private Advisor Group LLC’s holdings in Rite Aid Corporation were worth $102,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently bought and sold shares of RAD. Capstone Asset Management Co. grew its holdings in Rite Aid Corporation by 7.9% during the first quarter. Capstone Asset Management Co. now owns 25,870 shares of the company’s stock worth $110,000 after acquiring an additional 1,890 shares during the period. Great West Life Assurance Co. Can grew its holdings in Rite Aid Corporation by 2.6% during the first quarter. Great West Life Assurance Co. Can now owns 422,633 shares of the company’s stock worth $1,790,000 after acquiring an additional 10,651 shares during the period. World Asset Management Inc grew its holdings in Rite Aid Corporation by 27.1% during the first quarter. World Asset Management Inc now owns 46,781 shares of the company’s stock worth $199,000 after acquiring an additional 9,989 shares during the period. UBS Asset Management Americas Inc. grew its holdings in Rite Aid Corporation by 11.2% during the first quarter. UBS Asset Management Americas Inc. now owns 2,679,205 shares of the company’s stock worth $11,387,000 after acquiring an additional 269,545 shares during the period. Finally, Karp Capital Management Corp acquired a new stake in Rite Aid Corporation during the first quarter worth about $497,000. 52.62% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Rite Aid Corporation (NYSE:RAD) opened at 2.39 on Monday. The firm’s market capitalization is $2.50 billion. The firm has a 50-day moving average price of $2.38 and a 200 day moving average price of $3.36. Rite Aid Corporation has a one year low of $2.21 and a one year high of $8.77.
Rite Aid Corporation (NYSE:RAD) last released its earnings results on Thursday, June 29th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.01) by ($0.04). Rite Aid Corporation had a positive return on equity of 0.52% and a negative net margin of 0.21%. The business had revenue of $7.78 billion for the quarter, compared to analyst estimates of $8.29 billion. During the same quarter in the previous year, the firm posted $0.02 EPS. The business’s revenue for the quarter was down 4.9% on a year-over-year basis. Equities analysts forecast that Rite Aid Corporation will post ($0.10) earnings per share for the current fiscal year.
RAD has been the topic of several analyst reports. Zacks Investment Research raised Rite Aid Corporation from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 29th. Cowen and Company reaffirmed an “outperform” rating and set a $4.70 target price on shares of Rite Aid Corporation in a report on Monday, July 3rd. Mizuho lowered Rite Aid Corporation from a “buy” rating to a “neutral” rating and set a $2.95 target price on the stock. in a report on Thursday, July 20th. Guggenheim reaffirmed a “neutral” rating on shares of Rite Aid Corporation in a report on Monday, July 3rd. Finally, Bank of America Corporation reaffirmed an “underperform” rating and set a $2.00 target price on shares of Rite Aid Corporation in a report on Friday, June 30th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $4.08.
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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