Rite Aid Corporation (NYSE:RAD) Position Maintained by Longfellow Investment Management Co. LLC

Longfellow Investment Management Co. LLC held its stake in shares of Rite Aid Corporation (NYSE:RAD) during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 1,336,500 shares of the company’s stock at the end of the second quarter. Longfellow Investment Management Co. LLC owned 0.13% of Rite Aid Corporation worth $3,943,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Hefty Wealth Partners boosted its position in shares of Rite Aid Corporation by 1.6% in the first quarter. Hefty Wealth Partners now owns 47,240 shares of the company’s stock worth $200,000 after buying an additional 740 shares during the period. Cohen Capital Management Inc. raised its stake in shares of Rite Aid Corporation by 3.4% in the first quarter. Cohen Capital Management Inc. now owns 26,978 shares of the company’s stock worth $115,000 after buying an additional 875 shares during the period. NEXT Financial Group Inc raised its position in shares of Rite Aid Corporation by 2.4% in the first quarter. NEXT Financial Group Inc now owns 37,800 shares of the company’s stock worth $151,000 after buying an additional 900 shares during the period. Cambridge Investment Research Advisors Inc. raised its position in shares of Rite Aid Corporation by 0.7% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 141,287 shares of the company’s stock worth $600,000 after buying an additional 968 shares during the period. Finally, Geneva Advisors LLC raised its position in shares of Rite Aid Corporation by 3.1% in the first quarter. Geneva Advisors LLC now owns 40,384 shares of the company’s stock worth $172,000 after buying an additional 1,211 shares during the period. Institutional investors and hedge funds own 56.38% of the company’s stock.

Shares of Rite Aid Corporation (RAD) traded up 2.67% during midday trading on Friday, hitting $2.31. 14,484,308 shares of the company were exchanged. The stock’s market cap is $2.42 billion. Rite Aid Corporation has a one year low of $2.21 and a one year high of $8.77. The stock’s 50-day moving average is $2.57 and its 200-day moving average is $4.03. Rite Aid Corporation also saw some unusual options trading activity on Wednesday. Investors purchased 24,321 call options on the company. This represents an increase of approximately 239% compared to the average daily volume of 7,173 call options.

Rite Aid Corporation (NYSE:RAD) last announced its quarterly earnings data on Thursday, June 29th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by $0.04. Rite Aid Corporation had a negative net margin of 0.21% and a positive return on equity of 0.52%. The business had revenue of $7.78 billion during the quarter, compared to analyst estimates of $8.29 billion. During the same quarter in the prior year, the company posted $0.02 EPS. The company’s quarterly revenue was down 4.9% compared to the same quarter last year. Equities research analysts anticipate that Rite Aid Corporation will post ($0.09) EPS for the current year.

TRADEMARK VIOLATION NOTICE: This news story was first posted by Stock Observer and is owned by of Stock Observer. If you are accessing this news story on another website, it was stolen and reposted in violation of U.S. & international trademark and copyright legislation. The correct version of this news story can be read at https://www.thestockobserver.com/2017/08/12/longfellow-investment-management-co-llc-continues-to-hold-stake-in-rite-aid-corporation-nyserad-updated-updated.html.

Several equities research analysts recently issued reports on RAD shares. Zacks Investment Research raised shares of Rite Aid Corporation from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 16th. Cowen and Company reaffirmed an “outperform” rating and set a $4.70 price target on shares of Rite Aid Corporation in a research note on Monday, July 3rd. Mizuho downgraded shares of Rite Aid Corporation from a “buy” rating to a “neutral” rating and set a $2.95 price target on the stock. in a research note on Thursday, July 20th. Guggenheim reaffirmed a “neutral” rating on shares of Rite Aid Corporation in a research note on Monday, July 3rd. Finally, Bank of America Corporation reissued an “underperform” rating and issued a $2.00 target price on shares of Rite Aid Corporation in a research report on Friday, June 30th. Three analysts have rated the stock with a sell rating, three have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $4.53.

Rite Aid Corporation Company Profile

Rite Aid Corporation is a retail drugstore chain. The Company’s segments include Retail Pharmacy and Pharmacy Services. The Company operates under The Rite Aid name. It operates approximately 4,560 stores in over 30 states across the country and in the District of Columbia. The Company’s Retail Pharmacy segment consists of Rite Aid stores, RediClinic and Health Dialog.

Institutional Ownership by Quarter for Rite Aid Corporation (NYSE:RAD)

Receive News & Ratings for Rite Aid Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rite Aid Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply