Private Advisor Group LLC cut its stake in shares of Rite Aid Corp. (NYSE:RAD) by 3.3% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 59,547 shares of the company’s stock after selling 2,006 shares during the period. Private Advisor Group LLC’s holdings in Rite Aid Corp. were worth $441,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the stock. Pioneer Investment Management Inc. bought a new stake in shares of Rite Aid Corp. during the fourth quarter valued at about $7,230,000. Nomura Asset Management Co. Ltd. boosted its stake in shares of Rite Aid Corp. by 4.0% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 130,700 shares of the company’s stock valued at $1,024,000 after buying an additional 5,000 shares during the last quarter. Norges Bank bought a new stake in shares of Rite Aid Corp. during the fourth quarter valued at about $56,562,000. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its stake in shares of Rite Aid Corp. by 13.2% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 324,578 shares of the company’s stock valued at $2,645,000 after buying an additional 37,913 shares during the last quarter. Finally, Glenmede Trust Co. NA boosted its stake in shares of Rite Aid Corp. by 19.1% in the first quarter. Glenmede Trust Co. NA now owns 71,997 shares of the company’s stock valued at $586,000 after buying an additional 11,564 shares during the last quarter. Institutional investors and hedge funds own 63.13% of the company’s stock.

Rite Aid Corp. (NYSE:RAD) traded up 0.5081% during trading on Tuesday, hitting $8.0507. The company had a trading volume of 1,218,493 shares. The company has a market cap of $8.39 billion, a PE ratio of 59.6348 and a beta of 1.78. The company’s 50 day moving average price is $7.58 and its 200-day moving average price is $7.70. Rite Aid Corp. has a 12 month low of $5.88 and a 12 month high of $8.74.

A number of research firms have weighed in on RAD. Evercore ISI cut Rite Aid Corp. from a “buy” rating to a “hold” rating in a research note on Wednesday, June 1st. Zacks Investment Research upgraded Rite Aid Corp. from a “sell” rating to a “hold” rating in a research note on Wednesday, June 8th. Finally, JPMorgan Chase & Co. restated a “hold” rating on shares of Rite Aid Corp. in a research note on Friday, June 17th. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $9.11.

Rite Aid Corp. Company Profile

Rite Aid Corporation is a retail drugstore chain. The Company sells prescription drugs and a range of other merchandise, which are referred to as front-end products. The Company’s drugstores’ primary business is pharmacy services. It operates approximately 4,570 stores in 31 states across the country and in the District of Columbia.

5 Day Chart for NYSE:RAD

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