Scotia Capital Inc. Cuts Position in Rite Aid Co. (NYSE:RAD)

Scotia Capital Inc. decreased its position in Rite Aid Co. (NYSE:RAD) by 95.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,757 shares of the company’s stock after selling 260,568 shares during the quarter. Scotia Capital Inc.’s holdings in Rite Aid were worth $110,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. KLS Diversified Asset Management LP purchased a new stake in Rite Aid in the second quarter valued at approximately $4,114,000. Renaissance Technologies LLC purchased a new stake in shares of Rite Aid during the second quarter worth $986,000. Mark Sheptoff Financial Planning LLC purchased a new stake in shares of Rite Aid during the second quarter worth $90,000. GSA Capital Partners LLP increased its position in shares of Rite Aid by 161.4% during the second quarter. GSA Capital Partners LLP now owns 26,376 shares of the company’s stock worth $211,000 after acquiring an additional 16,286 shares during the period. Finally, PARK CIRCLE Co purchased a new stake in shares of Rite Aid during the second quarter worth $400,000. 55.86% of the stock is currently owned by institutional investors.

Shares of Rite Aid stock traded down $0.37 during trading hours on Wednesday, reaching $6.71. 1,833,180 shares of the company were exchanged, compared to its average volume of 2,218,387. Rite Aid Co. has a 1 year low of $5.04 and a 1 year high of $27.20. The stock’s fifty day moving average is $6.64 and its 200 day moving average is $5.70. The company has a quick ratio of 0.79, a current ratio of 1.45 and a debt-to-equity ratio of 6.18.

Rite Aid (NYSE:RAD) last posted its quarterly earnings data on Wednesday, June 26th. The company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.16). The company had revenue of $5.37 billion for the quarter, compared to analysts’ expectations of $5.37 billion. Rite Aid had a negative return on equity of 1.08% and a negative net margin of 3.40%. During the same period in the prior year, the company posted ($0.20) EPS. As a group, equities analysts expect that Rite Aid Co. will post -0.04 earnings per share for the current fiscal year.

RAD has been the topic of a number of recent research reports. Evercore ISI reaffirmed a “sell” rating on shares of Rite Aid in a research report on Monday, August 12th. ValuEngine raised Rite Aid from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. Finally, Deutsche Bank initiated coverage on Rite Aid in a research report on Thursday, September 12th. They set a “sell” rating and a $5.00 price objective on the stock. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. Rite Aid has an average rating of “Hold” and an average price target of $13.75.

Rite Aid Profile

Rite Aid Corporation, through its subsidiaries, operates a chain of retail drugstores in the United States. It operates through two segments, Retail Pharmacy and Pharmacy Services. The Retail Pharmacy segment sells prescription drugs and a range of other merchandise, including over-the-counter medications, health and beauty aids, personal care items, cosmetics, household items, food and beverages, greeting cards, seasonal merchandise, and other every day and convenience products.

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

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