Steamboat Capital Partners adds Rite Aid Corporation (RAD) to its portfolio

Rite Aid Corporation (RAD) : Steamboat Capital Partners added new position in Rite Aid Corporation during the most recent quarter end. The investment management firm now holds 509,083 shares of Rite Aid Corporation which is valued at $3,843,577 , the company said in a statement filed on Aug 15, 2016 with the SEC.Rite Aid Corporation makes up approximately 3.08% of Steamboat Capital Partners’s portfolio.

Other Hedge Funds, Including , United Capital Financial Advisers reduced its stake in RAD by selling 143,219 shares or 39.23% in the most recent quarter. The Hedge Fund company now holds 221,886 shares of RAD which is valued at $1,675,239. Rite Aid Corporation makes up approx 0.02% of United Capital Financial Advisers’s portfolio.Korea Investment Corp boosted its stake in RAD in the latest quarter, The investment management firm added 245,800 additional shares and now holds a total of 909,500 shares of Rite Aid Corporation which is valued at $6,866,725. Rite Aid Corporation makes up approx 0.04% of Korea Investment Corp’s portfolio. Citadel Advisors sold out all of its stake in RAD during the most recent quarter. The investment firm sold 571,310 shares of RAD which is valued $4,313,391.State Board Of Administration Of Florida Retirement System boosted its stake in RAD in the latest quarter, The investment management firm added 244,853 additional shares and now holds a total of 1,484,090 shares of Rite Aid Corporation which is valued at $10,358,948. Rite Aid Corporation makes up approx 0.03% of State Board Of Administration Of Florida Retirement System’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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