Arrowgrass Capital Partners (us) Lp Lowers stake in Rite Aid Corporation (RAD)

Rite Aid Corporation (RAD) : Arrowgrass Capital Partners (us) Lp reduced its stake in Rite Aid Corporation by 35.16% during the most recent quarter end. The investment management company now holds a total of 24,108,911 shares of Rite Aid Corporation which is valued at $175,030,694 after selling 13,072,960 shares in Rite Aid Corporation , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.Rite Aid Corporation makes up approximately 4.98% of Arrowgrass Capital Partners (us) Lp’s portfolio.

Other Hedge Funds, Including , Pictet Asset Management Ltd reduced its stake in RAD by selling 13,800 shares or 3.74% in the most recent quarter. The Hedge Fund company now holds 355,100 shares of RAD which is valued at $2,578,026. Rite Aid Corporation makes up approx 0.01% of Pictet Asset Management Ltd’s portfolio.Bronfman E.l. Rothschild reduced its stake in RAD by selling 30 shares or 35.29% in the most recent quarter. The Hedge Fund company now holds 55 shares of RAD which is valued at $355.Mitsubishi Ufj Kokusai Asset Management Ltd. reduced its stake in RAD by selling 3,080 shares or 2.0% in the most recent quarter. The Hedge Fund company now holds 150,938 shares of RAD which is valued at $1,012,794. Rite Aid Corporation makes up approx 0.03% of Mitsubishi Ufj Kokusai Asset Management Ltd.’s portfolio.

Rite Aid Corporation opened for trading at $7.68 and hit $7.74 on the upside on Monday, eventually ending the session at $7.67, with a gain of 0.79% or 0.06 points. The heightened volatility saw the trading volume jump to 82,42,450 shares. Company has a market cap of $8,070 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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