Trading Report: Today, Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp Reduces Position in Rite Aid Corp. (RAD)

Today, Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp Reduces Position in Rite Aid Corp. (RAD)

Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp lowered its position in Rite Aid Corp. (NYSE:RAD) by 50.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 250,000 shares of the company’s stock after selling 250,000 shares during the period. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp’s holdings in Rite Aid Corp. were worth $1,923,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. LS Investment Advisors LLC increased 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 worth $138,000 after buying an additional 4,046 shares during the period. IBM Retirement Fund increased its position in Rite Aid Corp. by 3.9% in the second quarter. IBM Retirement Fund now owns 134,627 shares of the company’s stock worth $1,038,000 after buying an additional 5,113 shares during the period. Concorde Asset Management LLC purchased a new position in Rite Aid Corp. during the second quarter worth $102,000. Hartford Investment Management Co. increased 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 worth $165,000 after buying an additional 347 shares during the period. Finally, State of Alaska Department of Revenue increased its position in Rite Aid Corp. by 89.0% in the second quarter. State of Alaska Department of Revenue now owns 1,386,235 shares of the company’s stock worth $10,382,000 after buying an additional 652,938 shares during the period. Hedge funds and other institutional investors own 60.74% of the company’s stock.

Shares of Rite Aid Corp. (NYSE:RAD) traded down 1.15% during mid-day trading on Monday, hitting $7.76. The stock had a trading volume of 10,761,627 shares. The company’s 50 day moving average is $7.11 and its 200-day moving average is $7.44. The stock has a market cap of $8.10 billion, a P/E ratio of 60.16 and a beta of 1.89. Rite Aid Corp. has a 52-week low of $6.33 and a 52-week high of $8.30.

Rite Aid Corp. (NYSE:RAD) last released its quarterly earnings data on Thursday, September 22nd. The company reported $0.03 earnings per share for the quarter, meeting 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 last year, the firm earned $0.02 EPS. The company’s revenue for the quarter was up 4.8% on a year-over-year basis. On average, equities research analysts anticipate that Rite Aid Corp. will post $0.12 earnings per share for the current fiscal year.

A number of research analysts have weighed in on the company. Zacks Investment Research upgraded Rite Aid Corp. from a “sell” rating to a “hold” rating in a report on Friday, September 23rd. Vetr upgraded Rite Aid Corp. from a “buy” rating to a “strong-buy” rating in a report on Friday, September 30th. Five investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $9.01.

Rite Aid Corp. 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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