Havens Advisors Lowers stake in Rite Aid Corporation (RAD)

Rite Aid Corporation (RAD) : Havens Advisors reduced its stake in Rite Aid Corporation by 0.31% during the most recent quarter end. The investment management company now holds a total of 1,510,000 shares of Rite Aid Corporation which is valued at $10,872,000 after selling 4,727 shares in Rite Aid Corporation , the firm said in a disclosure report filed with the SEC on Oct 13, 2016.Rite Aid Corporation makes up approximately 8.69% of Havens Advisors’s portfolio.

Other Hedge Funds, Including , Private Bank Trust Co boosted its stake in RAD in the latest quarter, The investment management firm added 3,250 additional shares and now holds a total of 56,500 shares of Rite Aid Corporation which is valued at $406,800. Rite Aid Corporation makes up approx 0.06% of Private Bank Trust Co’s portfolio.Creative Planning reduced its stake in RAD by selling 33,490 shares or 20.83% in the most recent quarter. The Hedge Fund company now holds 127,285 shares of RAD which is valued at $938,090. Rite Aid Corporation makes up approx 0.01% of Creative Planning’s portfolio.Bnp Paribas Arbitrage Sa boosted its stake in RAD in the latest quarter, The investment management firm added 386,502 additional shares and now holds a total of 513,467 shares of Rite Aid Corporation which is valued at $3,892,080. Rite Aid Corporation makes up approx 0.02% of Bnp Paribas Arbitrage Sa’s portfolio. Washington Trust Bank added RAD to its portfolio by purchasing 92 company shares during the most recent quarter which is valued at $697.

Rite Aid Corporation opened for trading at $7.3701 and hit $7.4299 on the upside on Tuesday, eventually ending the session at $7.37, with a gain of 0.41% or 0.03 points. The heightened volatility saw the trading volume jump to 1,16,42,518 shares. Company has a market cap of $7,754 M.

On the company’s financial health, Rite Aid Corporation reported $0.03 EPS for the quarter, based on the information available during the earnings call on Sep 22, 2016. Analyst had a consensus estimate of $0.03. The company had revenue of $8029.80 million for the quarter, compared to analysts expectations of $8165.07 million. The company’s revenue was up 4.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.02 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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