Rite Aid Corporation (RAD) Shares Bought by Verition Fund Management LLC, Report finds

Rite Aid Corporation (RAD) Shares Bought by Verition Fund Management LLC, Report finds

Verition Fund Management LLC raised its position in Rite Aid Corporation (NYSE:RAD) by 861.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 156,359 shares of the company’s stock after buying an additional 140,089 shares during the period. Verition Fund Management LLC’s holdings in Rite Aid Corporation were worth $1,202,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in the company. PNC Financial Services Group Inc. raised its position in shares of Rite Aid Corporation by 588.1% in the third quarter. PNC Financial Services Group Inc. now owns 570,352 shares of the company’s stock worth $4,385,000 after buying an additional 487,467 shares during the last quarter. Skandinaviska Enskilda Banken AB publ increased its position in Rite Aid Corporation by 7.3% in the third quarter. Skandinaviska Enskilda Banken AB publ now owns 143,300 shares of the company’s stock worth $1,102,000 after buying an additional 9,700 shares during the period. TIAA CREF Investment Management LLC increased its position in Rite Aid Corporation by 5.8% in the third quarter. TIAA CREF Investment Management LLC now owns 3,832,813 shares of the company’s stock worth $29,474,000 after buying an additional 210,579 shares during the period. BlackRock Japan Co. Ltd increased its position in Rite Aid Corporation by 1.0% in the third quarter. BlackRock Japan Co. Ltd now owns 1,368,290 shares of the company’s stock worth $10,522,000 after buying an additional 13,476 shares during the period. Finally, Perella Weinberg Partners Capital Management LP increased its position in Rite Aid Corporation by 250.0% in the third quarter. Perella Weinberg Partners Capital Management LP now owns 371,103 shares of the company’s stock worth $2,854,000 after buying an additional 265,078 shares during the period. Institutional investors and hedge funds own 60.69% of the company’s stock.

Shares of Rite Aid Corporation (NYSE:RAD) traded up 0.76% during mid-day trading on Wednesday, reaching $5.33. The company had a trading volume of 14,398,274 shares. The firm has a market capitalization of $5.57 billion, a price-to-earnings ratio of 67.47 and a beta of 1.89. Rite Aid Corporation has a one year low of $5.20 and a one year high of $8.77. The stock has a 50 day moving average of $7.42 and a 200-day moving average of $7.49.

Rite Aid Corporation (NYSE:RAD) last released its earnings results on Thursday, December 22nd. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by $0.02. The firm earned $8.60 billion during the quarter. Rite Aid Corporation had a net margin of 0.28% and a return on equity of 24.52%. The firm’s revenue for the quarter was down .8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.06 EPS. Equities analysts predict that Rite Aid Corporation will post $0.07 EPS for the current year.

RAD has been the topic of a number of analyst reports. Zacks Investment Research raised Rite Aid Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, November 15th. Mizuho reissued a “positive” rating and issued a $6.75 price target (down previously from $9.00) on shares of Rite Aid Corporation in a research note on Monday, January 30th. Four equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $8.56.

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.

Want to see what other hedge funds are holding RAD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Rite Aid Corporation (NYSE:RAD).

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Rite Aid Corporation (RAD) Shares Bought by Verition Fund Management LLC

Rite Aid Corporation (RAD) Shares Bought by Verition Fund Management LLC

Verition Fund Management LLC raised its position in Rite Aid Corporation (NYSE:RAD) by 861.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 156,359 shares of the company’s stock after buying an additional 140,089 shares during the period. Verition Fund Management LLC’s holdings in Rite Aid Corporation were worth $1,202,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in the company. PNC Financial Services Group Inc. raised its position in shares of Rite Aid Corporation by 588.1% in the third quarter. PNC Financial Services Group Inc. now owns 570,352 shares of the company’s stock worth $4,385,000 after buying an additional 487,467 shares during the last quarter. Skandinaviska Enskilda Banken AB publ increased its position in Rite Aid Corporation by 7.3% in the third quarter. Skandinaviska Enskilda Banken AB publ now owns 143,300 shares of the company’s stock worth $1,102,000 after buying an additional 9,700 shares during the period. TIAA CREF Investment Management LLC increased its position in Rite Aid Corporation by 5.8% in the third quarter. TIAA CREF Investment Management LLC now owns 3,832,813 shares of the company’s stock worth $29,474,000 after buying an additional 210,579 shares during the period. BlackRock Japan Co. Ltd increased its position in Rite Aid Corporation by 1.0% in the third quarter. BlackRock Japan Co. Ltd now owns 1,368,290 shares of the company’s stock worth $10,522,000 after buying an additional 13,476 shares during the period. Finally, Perella Weinberg Partners Capital Management LP increased its position in Rite Aid Corporation by 250.0% in the third quarter. Perella Weinberg Partners Capital Management LP now owns 371,103 shares of the company’s stock worth $2,854,000 after buying an additional 265,078 shares during the period. Institutional investors and hedge funds own 60.69% of the company’s stock.

Shares of Rite Aid Corporation (NYSE:RAD) traded up 0.76% during mid-day trading on Wednesday, reaching $5.33. The company had a trading volume of 14,398,274 shares. The firm has a market capitalization of $5.57 billion, a price-to-earnings ratio of 67.47 and a beta of 1.89. Rite Aid Corporation has a one year low of $5.20 and a one year high of $8.77. The stock has a 50 day moving average of $7.42 and a 200-day moving average of $7.49.

Rite Aid Corporation (NYSE:RAD) last released its earnings results on Thursday, December 22nd. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by $0.02. The firm earned $8.60 billion during the quarter. Rite Aid Corporation had a net margin of 0.28% and a return on equity of 24.52%. The firm’s revenue for the quarter was down .8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.06 EPS. Equities analysts predict that Rite Aid Corporation will post $0.07 EPS for the current year.

RAD has been the topic of a number of analyst reports. Zacks Investment Research raised Rite Aid Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, November 15th. Mizuho reissued a “positive” rating and issued a $6.75 price target (down previously from $9.00) on shares of Rite Aid Corporation in a research note on Monday, January 30th. Four equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $8.56.

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.

Want to see what other hedge funds are holding RAD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Rite Aid Corporation (NYSE:RAD).

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