MML Investors Services LLC decreased its stake in Rite Aid Co. (NYSE:RAD) by 22.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 52,525 shares of the company’s stock after selling 15,100 shares during the quarter. MML Investors Services LLC’s holdings in Rite Aid were worth $37,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Wedbush Securities Inc. boosted its stake in Rite Aid by 111.9% in the 4th quarter. Wedbush Securities Inc. now owns 37,875 shares of the company’s stock valued at $27,000 after buying an additional 20,000 shares in the last quarter. Lombard Odier Asset Management USA Corp acquired a new stake in Rite Aid in the 3rd quarter valued at $32,000. Capstone Financial Advisors Inc. acquired a new stake in Rite Aid in the 3rd quarter valued at $32,000. Raymond James & Associates boosted its stake in Rite Aid by 12.9% in the 4th quarter. Raymond James & Associates now owns 233,670 shares of the company’s stock valued at $166,000 after buying an additional 26,710 shares in the last quarter. Finally, Marshall Wace LLP acquired a new stake in Rite Aid in the 3rd quarter valued at $47,000. 45.76% of the stock is currently owned by institutional investors and hedge funds.

Shares of RAD stock opened at $0.57 on Thursday. The company has a current ratio of 1.59, a quick ratio of 0.90 and a debt-to-equity ratio of 2.35. The firm has a market capitalization of $602.26 million, a P/E ratio of -28.39 and a beta of 1.82. Rite Aid Co. has a one year low of $0.51 and a one year high of $2.12.

Several analysts recently commented on the company. Zacks Investment Research lowered Rite Aid from a “buy” rating to a “hold” rating in a research note on Wednesday, April 3rd. Loop Capital decreased their price target on Rite Aid from $1.35 to $1.00 and set a “hold” rating on the stock in a research note on Thursday, December 20th. One analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $1.96.

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About Rite Aid

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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