Today: Rite Aid Corp. (RAD) Stake Decreased by Havens Advisors LLC

Today: Rite Aid Corp. (RAD) Stake Decreased by Havens Advisors LLC

Havens Advisors LLC cut its position in shares of Rite Aid Corp. (NYSE:RAD) by 0.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,510,000 shares of the company’s stock after selling 4,727 shares during the period. Rite Aid Corp. accounts for approximately 9.0% of Havens Advisors LLC’s portfolio, making the stock its 3rd largest position. Havens Advisors LLC’s holdings in Rite Aid Corp. were worth $11,612,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in the stock. Cohen Capital Management Inc. increased its position in shares of Rite Aid Corp. by 95.2% in the third quarter. Cohen Capital Management Inc. now owns 26,103 shares of the company’s stock worth $201,000 after buying an additional 12,732 shares in the last quarter. Private Bank & Trust Co. increased its position in shares of Rite Aid Corp. by 6.1% in the third quarter. Private Bank & Trust Co. now owns 56,500 shares of the company’s stock worth $434,000 after buying an additional 3,250 shares in the last quarter. MSI Financial Services Inc increased its position in shares of Rite Aid Corp. by 38.9% in the third quarter. MSI Financial Services Inc now owns 44,156 shares of the company’s stock worth $339,000 after buying an additional 12,370 shares in the last quarter. Gulf International Bank UK Ltd increased its position in shares of Rite Aid Corp. by 10.6% in the third quarter. Gulf International Bank UK Ltd now owns 310,100 shares of the company’s stock worth $2,384,000 after buying an additional 29,600 shares in the last quarter. Finally, Capstone Asset Management Co. increased its position in shares of Rite Aid Corp. by 10.2% in the third quarter. Capstone Asset Management Co. now owns 23,850 shares of the company’s stock worth $183,000 after buying an additional 2,200 shares in the last quarter. Institutional investors and hedge funds own 60.74% of the company’s stock.

Rite Aid Corp. (NYSE:RAD) traded down 1.15% during midday trading on Monday, hitting $7.76. 10,705,604 shares of the company’s stock traded hands. The company has a market capitalization of $8.10 billion, a PE ratio of 60.16 and a beta of 1.89. The company has a 50 day moving average of $7.10 and a 200-day moving average of $7.45. 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 announced its quarterly earnings results on Thursday, September 22nd. The company reported $0.03 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.03. Rite Aid Corp. had a net margin of 0.41% and a return on equity of 32.41%. The company earned $8 million during the quarter. During the same period last year, the firm posted $0.02 EPS. The business’s revenue was up 4.8% compared to the same quarter last year. Equities research analysts predict that Rite Aid Corp. will post $0.12 earnings per share for the current year.

A number of brokerages have recently issued reports on RAD. Zacks Investment Research upgraded shares of Rite Aid Corp. from a “sell” rating to a “hold” rating in a report on Wednesday, November 23rd. Vetr upgraded shares of Rite Aid Corp. from a “buy” rating to a “strong-buy” rating in a report on Friday, September 30th. Five 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 has an average rating of “Hold” and an average target price 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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