Perella Weinberg Partners Capital Management LP raised its stake in shares of Rite Aid Corp. (NYSE:RAD) by 250.0% during the third quarter, Holdings Channel reports. The fund owned 371,103 shares of the company’s stock after buying an additional 265,078 shares during the period. Rite Aid Corp. comprises about 0.8% of Perella Weinberg Partners Capital Management LP’s investment portfolio, making the stock its 22nd largest position. Perella Weinberg Partners Capital Management LP’s holdings in Rite Aid Corp. were worth $2,854,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of RAD. SevenBridge Financial Group LLC purchased a new position in shares of Rite Aid Corp. during the second quarter valued at $102,000. Atlas Brown Inc. raised its position in shares of Rite Aid Corp. by 16.7% in the third quarter. Atlas Brown Inc. now owns 14,000 shares of the company’s stock valued at $108,000 after buying an additional 2,000 shares during the last quarter. Koshinski Asset Management Inc. purchased a new position in shares of Rite Aid Corp. during the third quarter valued at $109,000. Wedbush Securities Inc. raised its position in shares of Rite Aid Corp. by 14.5% in the third quarter. Wedbush Securities Inc. now owns 14,125 shares of the company’s stock valued at $109,000 after buying an additional 1,789 shares during the last quarter. Finally, Mizuho Asset Management Co. Ltd. purchased a new position in shares of Rite Aid Corp. during the second quarter valued at $110,000. 60.67% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Rite Aid Corp. (NYSE:RAD) traded down 0.636% during mid-day trading on Thursday, reaching $8.595. The company had a trading volume of 10,578,565 shares. The company has a market capitalization of $8.98 billion, a price-to-earnings ratio of 108.797 and a beta of 1.94. The firm’s 50-day moving average is $8.32 and its 200 day moving average is $7.59. Rite Aid Corp. has a 12 month low of $6.33 and a 12 month high of $8.77.
Rite Aid Corp. (NYSE:RAD) last posted its earnings results on Thursday, December 22nd. The company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by $0.02. Rite Aid Corp. had a net margin of 0.28% and a return on equity of 24.52%. The business earned $8.60 billion during the quarter. During the same period last year, the firm posted $0.06 earnings per share. The company’s revenue for the quarter was down .8% on a year-over-year basis. On average, equities research analysts predict that Rite Aid Corp. will post $0.06 earnings per share for the current year.
Several analysts have recently issued reports on the company. Zacks Investment Research upgraded Rite Aid Corp. from a “sell” rating to a “hold” rating in a research note on Friday, September 23rd. Vetr upgraded Rite Aid Corp. from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 30th. Four analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. Rite Aid Corp. currently has an average rating of “Buy” 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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