Rite Aid Corporation (NYSE:RAD) surged 0.35% yesterday to close its trading session at $5.72. The stock appeared $40.39 above its 52-week highs and is up 14.16% for the last five trades. Capital World Investors increased its position in shares of Rite Aid Corporation by 56.7% in the second quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. APG Asset Management N.V. now owns 9,502,229 shares of the company's stock worth $71,172,000 after buying an additional 3,158,400 shares during the last quarter. A P/B ratio of less than 1.0 can indicate that a stock is undervalued, while a ratio of greater than 1.0 may indicate that a stock is overvalued. Advisor Group Inc. boosted its position in Rite Aid Corporation by 2.1% in the third quarter. Currently, the company has SMA200 (200-day simple moving average) of -22.69 Percent.
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For the fiscal ended 2016-02-29, the diluted outstanding shares were 1042.362 and for the quarter ended 2016-02-29 it was 1042.362. The short ratio in the company's stock is documented at 1.21 and the short float is around of 2.74%. The Company now has Insider ownership of 0.7 Percent and Institutional Ownership of 61.8 Percent.
The stock is now trading at a distance of -10.39% from SMA-20. Net profit margin of the company was recorded at 0.3 percent, operating profit margin was 1.7 percent, whereas gross profit margin stands at 23.8 percent. Rite Aid Corporation has 52-Week high of $8.77 and 52-Week Low of $5.2. The company reported $0.02 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.04 by $0.02. The business earned $8.60 billion during the quarter. This quarter analysts say they expect sales to move at $8.28 billion - higher from $8.27 billion the year before. The reported EPS for the same quarter a year ago was $0.07. The difference between the estimated and actual earnings was $0.01 per share. These shares were downgraded to Hold from Buy by Deutsche Bank, according to news reported on Friday April 08, 2016.Another important research note was issued by JP Morgan on Friday November 13, 2015.The firm downgraded RAD to Neutral from Overweight. "WI" was originally published by The Cerbat Gem and is the property of of The Cerbat Gem. It operates stores in the majority of the major USA metropolitan markets. The correct version of this piece can be viewed at https://www.thecerbatgem.com/2017/02/14/rite-aid-corporation-rad-shares-sold-by-sii-investments-inc-wi.html. Einhorn owned slightly less than 20.5 million shares as of December 31, according to several media reports. On average, equities analysts forecast that Rite Aid Corporation will post $0.06 EPS for the current year. The stock gained a consensus recommendation of 2.5 on Zacks Investment Research where the scale runs from 1 to 5, 1 representing Strong buy and 5 showing Strong Sell. The research firm Downgrade the stock to Hold. The insider owns 2,726,009 shares which have current market value of around $15783592.11.Kenneth A. Martindale is another major inside shareholder in the company.
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Rite Aid declared that naloxone, a medication that can be used to reverse the effects of an opioid overdose, is now available at more than 630 pharmacies in Georgia, Louisiana, Tennessee, Utah, Virginia and West Virginia without a prescription, subject to state regulations.
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