National Planning Corp increased its stake in shares of Rite Aid Corporation (NYSE:RAD) by 18.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 123,725 shares of the company’s stock after buying an additional 19,657 shares during the period. National Planning Corp’s holdings in Rite Aid Corporation were worth $333,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in RAD. Clear Harbor Asset Management LLC raised its position in Rite Aid Corporation by 719.0% in the first quarter. Clear Harbor Asset Management LLC now owns 312,600 shares of the company’s stock valued at $1,329,000 after buying an additional 363,100 shares in the last quarter. Howard Hughes Medical Institute raised its position in Rite Aid Corporation by 65.1% in the first quarter. Howard Hughes Medical Institute now owns 147,626 shares of the company’s stock valued at $627,000 after buying an additional 58,224 shares in the last quarter. Canal Insurance CO raised its position in Rite Aid Corporation by 100.0% in the first quarter. Canal Insurance CO now owns 600,000 shares of the company’s stock valued at $2,550,000 after buying an additional 300,000 shares in the last quarter. DORCHESTER WEALTH MANAGEMENT Co raised its position in Rite Aid Corporation by 66.7% in the first quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 100,000 shares of the company’s stock valued at $425,000 after buying an additional 40,000 shares in the last quarter. Finally, Candriam Luxembourg S.C.A. raised its position in 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 valued at $332,000 after buying an additional 16,711 shares in the last quarter. Hedge funds and other institutional investors own 54.77% of the company’s stock.

Rite Aid Corporation (RAD) opened at 2.33 on Tuesday. The company has a 50-day moving average of $2.55 and a 200-day moving average of $3.96. Rite Aid Corporation has a 1-year low of $2.21 and a 1-year high of $8.77. The firm’s market capitalization is $2.44 billion.

Rite Aid Corporation (NYSE:RAD) last issued its earnings results on Thursday, June 29th. The company reported ($0.05) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.01) by $0.04. The firm had revenue of $7.78 billion for the quarter, compared to analyst estimates of $8.29 billion. Rite Aid Corporation had a positive return on equity of 0.52% and a negative net margin of 0.21%. Rite Aid Corporation’s quarterly revenue was down 4.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.02 earnings per share. On average, equities analysts predict that Rite Aid Corporation will post ($0.09) earnings per share for the current year.

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Several brokerages have recently commented on RAD. Zacks Investment Research upgraded shares of Rite Aid Corporation from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 16th. Guggenheim lowered shares of Rite Aid Corporation from a “buy” rating to a “neutral” rating in a research note on Tuesday, April 25th. Cowen and Company restated an “outperform” rating and set a $4.70 price target on shares of Rite Aid Corporation in a research note on Monday, June 12th. Bank of America Corporation restated an “underperform” rating and set a $2.00 price target on shares of Rite Aid Corporation in a research note on Friday, June 30th. Finally, Evercore ISI began coverage on shares of Rite Aid Corporation in a research note on Friday, June 30th. They set an “underperform” rating and a $2.50 price target on the stock. Three analysts have rated the stock with a sell rating, three have given a hold rating, two have given a buy 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 price target 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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