Coastland Capital buys $41,494,332 stake in Rite Aid Corporation (RAD)

Rite Aid Corporation (RAD) : Coastland Capital scooped up 1,971,950 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 15, 2016. The investment management firm now holds a total of 5,495,938 shares of Rite Aid Corporation which is valued at $41,494,332.Rite Aid Corporation makes up approximately 5.10% of Coastland Capital’s portfolio.

Other Hedge Funds, Including , Westchester Capital Management added RAD to its portfolio by purchasing 3,132,163 company shares during the most recent quarter which is valued at $23,647,831. Rite Aid Corporation makes up approx 0.73% of Westchester Capital Management’s portfolio.Nomura Asset Management Co Ltd reduced its stake in RAD by selling 800 shares or 0.59% in the most recent quarter. The Hedge Fund company now holds 135,400 shares of RAD which is valued at $1,022,270. Rite Aid Corporation makes up approx 0.02% of Nomura Asset Management Co Ltd’s portfolio.Profund Advisors reduced its stake in RAD by selling 1,207 shares or 5.51% in the most recent quarter. The Hedge Fund company now holds 20,706 shares of RAD which is valued at $156,330. Rite Aid Corporation makes up approx 0.01% of Profund Advisors’s portfolio.Sii Investments Incwi reduced its stake in RAD by selling 19,885 shares or 7.89% in the most recent quarter. The Hedge Fund company now holds 232,040 shares of RAD which is valued at $1,628,921. Rite Aid Corporation makes up approx 0.13% of Sii Investments Incwi’s portfolio. Gsa Capital Partners Llp added RAD to its portfolio by purchasing 110,671 company shares during the most recent quarter which is valued at $772,484. Rite Aid Corporation makes up approx 0.04% of Gsa Capital Partners Llp’s portfolio.

Rite Aid Corporation opened for trading at $7.61 and hit $7.78 on the upside on Wednesday, eventually ending the session at $7.75, with a gain of 2.51% or 0.19 points. The heightened volatility saw the trading volume jump to 11,922,407 shares. Company has a market cap of $8,129 M.

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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