Athos Capital Ltd purchased a new position in Rite Aid Corporation (NYSE:RAD) during the second quarter, Holdings Channel reports. The firm purchased 112,391 shares of the company’s stock, valued at approximately $332,000.

Other large investors have also added to or reduced their stakes in the company. Howard Hughes Medical Institute raised its position in shares of Rite Aid Corporation by 65.1% in the first quarter. Howard Hughes Medical Institute now owns 147,626 shares of the company’s stock worth $627,000 after buying an additional 58,224 shares during the last quarter. Canal Insurance CO raised its position in shares of Rite Aid Corporation by 100.0% in the first quarter. Canal Insurance CO now owns 600,000 shares of the company’s stock worth $2,550,000 after buying an additional 300,000 shares during the last quarter. DORCHESTER WEALTH MANAGEMENT Co raised its position in shares of Rite Aid Corporation by 66.7% in the first quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 100,000 shares of the company’s stock worth $425,000 after buying an additional 40,000 shares during the last quarter. Candriam Luxembourg S.C.A. raised its position in shares of Rite Aid Corporation by 27.2% in the first quarter. Candriam Luxembourg S.C.A. now owns 78,184 shares of the company’s stock worth $332,000 after buying an additional 16,711 shares during the last quarter. Finally, Gemmer Asset Management LLC purchased a new position in shares of Rite Aid Corporation during the first quarter worth approximately $140,000. Institutional investors and hedge funds own 56.38% of the company’s stock.

Rite Aid Corporation (RAD) opened at 2.35 on Thursday. The firm’s market cap is $2.46 billion. Rite Aid Corporation has a 1-year low of $2.21 and a 1-year high of $8.77. The stock has a 50 day moving average price of $2.62 and a 200-day moving average price of $4.08. Rite Aid Corporation also was the recipient of unusually large options trading activity on Wednesday. Traders acquired 24,321 call options on the company. This is an increase of approximately 239% compared to the average volume of 7,173 call options.

Rite Aid Corporation (NYSE:RAD) last issued its quarterly earnings data on Thursday, June 29th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of ($0.01) by $0.04. Rite Aid Corporation had a positive return on equity of 0.52% and a negative net margin of 0.21%. The business had revenue of $7.78 billion during the quarter, compared to the consensus estimate of $8.29 billion. During the same period in the prior year, the firm earned $0.02 EPS. The business’s revenue for the quarter was down 4.9% compared to the same quarter last year. Equities research analysts forecast that Rite Aid Corporation will post ($0.09) EPS for the current year.

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A number of research analysts have commented on RAD shares. Guggenheim lowered Rite Aid Corporation from a “buy” rating to a “neutral” rating in a research report on Tuesday, April 25th. Zacks Investment Research lowered Rite Aid Corporation from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 4th. Bank of America Corporation reiterated an “underperform” rating and issued a $2.00 price objective on shares of Rite Aid Corporation in a research report on Friday, June 30th. Cowen and Company reiterated an “outperform” rating and issued a $4.70 price objective on shares of Rite Aid Corporation in a research report on Monday, June 12th. Finally, Mizuho lowered Rite Aid Corporation from a “buy” rating to a “neutral” rating and set a $2.95 price objective on the stock. in a research report on Thursday, July 20th. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. Rite Aid Corporation presently has a consensus rating of “Hold” and an average target price of $4.53.

About Rite Aid Corporation

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

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