MetLife Investment Advisors LLC bought a new position in shares of Rite Aid Co. (NYSE:RAD) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 482,534 shares of the company’s stock, valued at approximately $835,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. GSA Capital Partners LLP acquired a new position in Rite Aid during the second quarter worth $105,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new position in Rite Aid during the second quarter worth $108,000. Destination Wealth Management boosted 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 purchasing an additional 63,842 shares during the last quarter. NEXT Financial Group Inc boosted 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 purchasing an additional 28,400 shares during the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new position in Rite Aid during the second quarter worth $133,000. Institutional investors and hedge funds own 55.58% of the company’s stock.

NYSE RAD opened at $1.25 on Friday. The company has a debt-to-equity ratio of 1.75, a quick ratio of 0.85 and a current ratio of 1.49. Rite Aid Co. has a 1 year low of $1.23 and a 1 year high of $2.55. The firm has a market cap of $1.31 billion, a price-to-earnings ratio of -64.00 and a beta of 1.81.

Rite Aid (NYSE:RAD) last posted its quarterly earnings results on Thursday, September 27th. The company reported ($0.01) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.01). Rite Aid had a net margin of 5.18% and a negative return on equity of 2.88%. The firm had revenue of $5.42 billion for the quarter, compared to analyst estimates of $5.36 billion. During the same period in the prior year, the firm posted ($0.01) earnings per share. The company’s quarterly revenue was up 1.4% compared to the same quarter last year. equities research analysts anticipate that Rite Aid Co. will post -0.02 EPS for the current year.

RAD has been the subject of several recent research reports. Zacks Investment Research cut shares of Rite Aid from a “hold” rating to a “sell” rating in a report on Friday, August 17th. Goldman Sachs Group initiated coverage on shares of Rite Aid in a report on Thursday, September 6th. They set a “sell” rating and a $1.00 target price for the company. Royal Bank of Canada set a $1.00 target price on shares of Rite Aid and gave the stock a “hold” rating in a report on Monday. Mizuho reaffirmed a “hold” rating and set a $2.00 price target on shares of Rite Aid in a research report on Thursday, August 9th. Finally, TheStreet lowered shares of Rite Aid from a “c-” rating to a “d” rating in a research report on Wednesday, August 8th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a strong buy rating to the company’s stock. Rite Aid has a consensus rating of “Hold” and a consensus target price of $2.25.

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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