HRT Financial LLC Takes $105,000 Position in Rite Aid Co. (RAD)

HRT Financial LLC purchased a new stake in shares of Rite Aid Co. (NYSE:RAD) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 60,754 shares of the company’s stock, valued at approximately $105,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in RAD. GSA Capital Partners LLP bought a new position in shares of Rite Aid during the second quarter valued at about $105,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new stake in Rite Aid during the second quarter worth about $108,000. Destination Wealth Management increased its holdings in Rite Aid by 5,513.1% during the second quarter. Destination Wealth Management now owns 65,000 shares of the company’s stock worth $112,000 after buying an additional 63,842 shares during the last quarter. HighPoint Advisor Group LLC purchased a new stake in Rite Aid during the second quarter worth about $112,000. Finally, NEXT Financial Group Inc increased its holdings in Rite Aid by 62.5% during the first quarter. NEXT Financial Group Inc now owns 73,850 shares of the company’s stock worth $124,000 after buying an additional 28,400 shares during the last quarter. 55.58% of the stock is currently owned by institutional investors.

A number of analysts recently issued reports on RAD shares. Cowen restated a “buy” rating and set a $2.35 price objective on shares of Rite Aid in a report on Thursday, June 28th. TheStreet downgraded shares of Rite Aid from a “c-” rating to a “d” rating in a report on Wednesday, August 8th. Mizuho restated a “hold” rating and set a $2.00 price objective on shares of Rite Aid in a report on Thursday, August 9th. Zacks Investment Research downgraded shares of Rite Aid from a “buy” rating to a “hold” rating in a report on Tuesday, July 10th. Finally, Goldman Sachs Group started coverage on shares of Rite Aid in a report on Thursday, September 6th. They set a “sell” rating and a $1.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $2.37.

RAD opened at $1.25 on Monday. The stock has a market capitalization of $1.33 billion, a PE ratio of -62.50 and a beta of 1.83. The company has a debt-to-equity ratio of 1.75, a current ratio of 1.49 and a quick ratio of 0.85. Rite Aid Co. has a twelve month low of $1.23 and a twelve month high of $2.55.

Rite Aid (NYSE:RAD) last posted its earnings results on Wednesday, June 27th. The company reported ($0.01) earnings per share for the quarter, hitting the consensus estimate of ($0.01). The firm had revenue of $5.39 billion during the quarter, compared to the consensus estimate of $5.32 billion. Rite Aid had a net margin of 5.18% and a negative return on equity of 2.88%. The company’s revenue was down .9% on a year-over-year basis. During the same quarter last year, the company earned ($0.05) earnings per share. equities research analysts anticipate that Rite Aid Co. will post -0.02 EPS for the current fiscal year.

Rite Aid Profile

Rite Aid Corporation, through its subsidiaries, operates a chain of retail drugstores in the United States. It operates through two segments, Retail Pharmacy and Pharmacy Services. The Retail Pharmacy segment sells prescription drugs and a range of other merchandise, including over-the-counter medications, health and beauty aids, personal care items, cosmetics, household items, food and beverages, greeting cards, seasonal merchandise, and other every day and convenience products.

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Institutional Ownership by Quarter for Rite Aid (NYSE:RAD)

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