Salzhauer Michael Reduces Stake in Rite Aid Co. (RAD)
Salzhauer Michael reduced its position in Rite Aid Co. (NYSE:RAD) by 11.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 385,369 shares of the company’s stock after selling 52,004 shares during the period. Salzhauer Michael’s holdings in Rite Aid were worth $245,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also recently added to or reduced their stakes in the company. Leisure Capital Management boosted its stake in shares of Rite Aid by 4.5% in the 1st quarter. Leisure Capital Management now owns 170,443 shares of the company’s stock worth $108,000 after buying an additional 7,316 shares during the last quarter. Comerica Bank raised its holdings in Rite Aid by 12.9% in the 1st quarter. Comerica Bank now owns 73,784 shares of the company’s stock worth $42,000 after purchasing an additional 8,444 shares during the period. Paloma Partners Management Co raised its holdings in Rite Aid by 21.5% in the 4th quarter. Paloma Partners Management Co now owns 82,600 shares of the company’s stock worth $59,000 after purchasing an additional 14,600 shares during the period. Wedbush Securities Inc. raised its holdings in Rite Aid by 111.9% in the 4th quarter. Wedbush Securities Inc. now owns 37,875 shares of the company’s stock worth $27,000 after purchasing an additional 20,000 shares during the period. Finally, Brookstone Capital Management raised its holdings in Rite Aid by 111.8% in the 1st quarter. Brookstone Capital Management now owns 42,617 shares of the company’s stock worth $27,000 after purchasing an additional 22,500 shares during the period.
Rite Aid stock traded down $0.06 during trading on Monday, reaching $7.60. The company had a trading volume of 23,395 shares, compared to its average volume of 1,973,728. Rite Aid Co. has a 52 week low of $7.03 and a 52 week high of $42.40. The company has a quick ratio of 0.91, a current ratio of 1.68 and a debt-to-equity ratio of 2.93.
A number of equities analysts recently commented on RAD shares. Zacks Investment Research cut Rite Aid from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th. Guggenheim reaffirmed a “sell” rating on shares of Rite Aid in a report on Thursday, April 18th. Two investment analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $38.33.
TRADEMARK VIOLATION WARNING: “Salzhauer Michael Reduces Stake in Rite Aid Co. (RAD)” was reported by Watch List News and is owned by of Watch List News. If you are reading this news story on another publication, it was copied illegally and republished in violation of international copyright law. The original version of this news story can be viewed at https://www.watchlistnews.com/salzhauer-michael-reduces-stake-in-rite-aid-co-rad/3030398.html.
Rite Aid Company 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.
Want to see what other hedge funds are holding RAD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Rite Aid Co. (NYSE:RAD).
Receive News & Ratings for Rite Aid Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rite Aid and related companies with MarketBeat.com's FREE daily email newsletter.