Sheaff Brock Investment Advisors LLC Sells 105,247 Shares of Rite Aid Co. (NYSE:RAD)

Sheaff Brock Investment Advisors LLC reduced its position in shares of Rite Aid Co. (NYSE:RAD) by 89.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 12,222 shares of the company’s stock after selling 105,247 shares during the quarter. Sheaff Brock Investment Advisors LLC’s holdings in Rite Aid were worth $98,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Leisure Capital Management grew its position in shares of Rite Aid by 4.5% in the 1st quarter. Leisure Capital Management now owns 170,443 shares of the company’s stock valued at $108,000 after purchasing an additional 7,316 shares during the period. Comerica Bank grew its position in shares of Rite Aid by 12.9% in the 1st quarter. Comerica Bank now owns 73,784 shares of the company’s stock valued at $42,000 after purchasing an additional 8,444 shares during the period. Brookstone Capital Management grew its position in shares of Rite Aid by 111.8% in the 1st quarter. Brookstone Capital Management now owns 42,617 shares of the company’s stock valued at $27,000 after purchasing an additional 22,500 shares during the period. Rhumbline Advisers grew its position in shares of Rite Aid by 1.6% in the 1st quarter. Rhumbline Advisers now owns 1,586,561 shares of the company’s stock valued at $1,007,000 after purchasing an additional 25,030 shares during the period. Finally, Raymond James & Associates grew its position in shares of Rite Aid by 12.9% in the 4th quarter. Raymond James & Associates now owns 233,670 shares of the company’s stock valued at $166,000 after purchasing an additional 26,710 shares during the period.

Several brokerages recently issued reports on RAD. ValuEngine upgraded Rite Aid from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. Guggenheim reaffirmed a “sell” rating on shares of Rite Aid in a research report on Thursday, April 18th. Finally, Evercore ISI reaffirmed a “sell” rating on shares of Rite Aid in a research report on Monday. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. Rite Aid presently has an average rating of “Hold” and an average price target of $17.50.

NYSE:RAD traded up $0.16 during trading hours on Friday, reaching $5.52. 5,879 shares of the stock were exchanged, compared to its average volume of 2,015,242. Rite Aid Co. has a twelve month low of $5.27 and a twelve month high of $29.80. The company has a current ratio of 1.45, a quick ratio of 0.79 and a debt-to-equity ratio of 6.18. The firm has a 50 day moving average of $7.57 and a 200 day moving average of $4.86.

Rite Aid (NYSE:RAD) last released its quarterly earnings results 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). Rite Aid had a negative return on equity of 1.08% and a negative net margin of 3.40%. The firm had revenue of $5.37 billion for the quarter, compared to analyst estimates of $5.37 billion. During the same period last year, the company earned ($0.20) EPS. As a group, analysts expect that Rite Aid Co. will post 0.16 EPS for the current fiscal year.

About Rite Aid

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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