Alpine Associates Management buys $85,123,985 stake in Rite Aid Corporation (RAD)

Rite Aid Corporation (RAD) : Alpine Associates Management scooped up 3,537,100 additional shares in Rite Aid Corporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 12, 2016. The investment management firm now holds a total of 11,274,700 shares of Rite Aid Corporation which is valued at $85,123,985.Rite Aid Corporation makes up approximately 3.69% of Alpine Associates Management’s portfolio.

Other Hedge Funds, Including , Parametric Portfolio Associates reduced its stake in RAD by selling 95,444 shares or 5.28% in the most recent quarter. The Hedge Fund company now holds 1,710,537 shares of RAD which is valued at $12,914,554. Rite Aid Corporation makes up approx 0.02% of Parametric Portfolio Associates’s portfolio.State Of New Jersey Common Pension Fund D boosted its stake in RAD in the latest quarter, The investment management firm added 1,400,000 additional shares and now holds a total of 2,200,000 shares of Rite Aid Corporation which is valued at $15,356,000. Rite Aid Corporation makes up approx 0.07% of State Of New Jersey Common Pension Fund D’s portfolio.Putnam Fl Investment Management Co reduced its stake in RAD by selling 102,033 shares or 50.99% in the most recent quarter. The Hedge Fund company now holds 98,062 shares of RAD which is valued at $684,473. Rite Aid Corporation makes up approx 0.08% of Putnam Fl Investment Management Co’s portfolio.Boston Advisors reduced its stake in RAD by selling 578,651 shares or 63.72% in the most recent quarter. The Hedge Fund company now holds 329,520 shares of RAD which is valued at $2,296,754. Rite Aid Corporation makes up approx 0.06% of Boston Advisors’s portfolio.

Rite Aid Corporation closed down -0.01 points or -0.13% at $7.42 with 83,65,463 shares getting traded on Monday. Post opening the session at $7.45, the shares hit an intraday low of $7.39 and an intraday high of $7.5 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, Rite Aid Corporation reported $0.01 EPS for the quarter, missing the analyst consensus estimate by $ -0.03 based on the information available during the earnings call on Jun 16, 2016. Analyst had a consensus of $0.04. The company had revenue of $8184.20 million for the quarter, compared to analysts expectations of $8200.56 million. The company’s revenue was up 23.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.04 EPS.

Rite Aid Corporation is a retail drugstore chain. The Company sells prescription drugs and a range of other merchandise which are referred to as front-end products. The Company’s drugstores’ primary business is pharmacy services. It operates approximately 4570 stores in 31 states across the country and in the District of Columbia. Its front-end products include over-the-counter medications health and beauty aids personal care items cosmetics household items food and beverages greeting cards seasonal merchandise and various other every day and convenience products. The Company offers a range of products through its portfolio of private brands. Its classes of products include prescription drugs over-the-counter medications and personal care health and beauty aids and general merchandise and other. It sells private brand and co-branded products. It operates under The Rite Aid name.

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