Brave Asset Management Inc. grew its stake in shares of Rite Aid Co. (NYSE:RAD) by 52.4% in the fourth quarter, Holdings Channel reports. The fund owned 80,000 shares of the company’s stock after buying an additional 27,500 shares during the quarter. Brave Asset Management Inc.’s holdings in Rite Aid were worth $158,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in the company. Advisor Group Inc. lifted its holdings in shares of Rite Aid by 49.8% in the second quarter. Advisor Group Inc. now owns 36,518 shares of the company’s stock valued at $101,000 after purchasing an additional 12,140 shares in the last quarter. Verition Fund Management LLC purchased a new stake in shares of Rite Aid in the second quarter valued at $120,000. Harbor Advisors LLC lifted its holdings in shares of Rite Aid by 300.0% in the third quarter. Harbor Advisors LLC now owns 80,000 shares of the company’s stock valued at $157,000 after purchasing an additional 60,000 shares in the last quarter. Parametrica Management Ltd purchased a new stake in shares of Rite Aid in the fourth quarter valued at $182,000. Finally, State of Alaska Department of Revenue purchased a new stake in shares of Rite Aid in the fourth quarter valued at $195,000. Institutional investors own 49.48% of the company’s stock.
Rite Aid Co. (RAD) opened at $2.13 on Monday. Rite Aid Co. has a one year low of $1.38 and a one year high of $6.15. The company has a quick ratio of 0.59, a current ratio of 0.86 and a debt-to-equity ratio of 3.66. The firm has a market cap of $2,270.00, a price-to-earnings ratio of 19.36 and a beta of 1.76.
RAD has been the subject of a number of research analyst reports. Vetr lowered Rite Aid from a “strong-buy” rating to a “buy” rating and set a $2.47 target price for the company. in a report on Thursday, January 11th. Zacks Investment Research upgraded Rite Aid from a “sell” rating to a “hold” rating in a report on Monday, February 5th. Deutsche Bank initiated coverage on Rite Aid in a report on Monday, December 4th. They issued a “hold” rating and a $2.25 target price for the company. Royal Bank of Canada set a $2.00 target price on Rite Aid and gave the company a “hold” rating in a report on Wednesday, October 25th. Finally, Evercore ISI initiated coverage on Rite Aid in a report on Thursday, January 4th. They issued an “underperform” rating and a $1.50 target price for the company. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $2.75.
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Rite Aid 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.
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