Rite Aid Corporation (RAD) closed at $2.31 in the last trading session

Rite Aid Corporation (RAD) reported earning per shares for the quarter ending Jun 29 BMO, whereas, 2 number of analysts estimated the mean EPS at -0.03. The institutional investor owned 50,473,198 shares of the company's stock after buying an additional 49,482,563 shares during the period. Symons Capital Management Inc. purchased a new stake in Rite Aid Corporation during the first quarter worth $12,504,000.

RAD's SVP Donley Douglas E Sell 34106 shares of the company at a price of $7.77 on 2016-06-15. Macquarie Group Ltd. boosted its stake in shares of Rite Aid Corporation by 125.3% in the fourth quarter. It is down -71.72% in this year through last close, and the beta ratio has a value of 1.87. Tyrus Sam has 1.7% invested in Rite Aid Corporation (NYSE:RAD) for 824,405 shares. Three analysts have rated the stock with a sell rating, two have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. Gulf International Bank UK Ltd increased its position in Rite Aid Corporation by 1.3% in the first quarter. Rite Aid Corporation (NYSE:RAD) has declined 55.18% since July 18, 2016 and is downtrending. Tightening the gaze, stock performance for the last 5 trading days is -1.57%.

All said, this deal is likely to make Rite Aid a smaller, yet stronger firm with lesser exposure to the pressures of the aforementioned unfavorable pharmacy reimbursement rates. Analysts are forecasting earnings of $-0.02 on a per share basis this quarter.

Among analysts who offered their Analysis on Rite Aid Corporation (RAD)-0 analysts issued Buy for the stock, 2 analysts gave Outperform rating, 3 think it's a Hold, 2 issued Underperform, while 0 analyst gave a Sell rating. Longfellow Invest Mngmt Lc invested 2.93% of its portfolio in Rite Aid Corporation (NYSE:RAD). The company has market cap of $555.54 million.

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Rite Aid Corporation (RAD)'s distance from 200 day simple moving average is -59.04 percent, its distance from 50 day simple moving average is -30.58 percent, while its distance from 20 day simple moving average is -20.33 percent.

Insider Trades for Rite Aid Corporation show that the latest trade was made on 23 Jun 2017 where Montini Enio Anthony Jr, the Officer completed a transaction type "Sell" in which 2022 shares were traded at a price of $0. For the quarter, shares have been noted at -48.68%. The company had revenue of $7.78 billion during the quarter, compared to analysts' expectations of $8.29 billion. Riggs Asset Managment stated it has 0.01% in Rite Aid Corporation (NYSE:RAD). In contrast to the year ago quarter EPS was at 0. On average, analysts anticipate that Rite Aid Corporation will post ($0.09) earnings per share for the current fiscal year.

ILLEGAL ACTIVITY WARNING: This article was first published by Chaffey Breeze and is the sole property of of Chaffey Breeze. If you are accessing this piece on another domain, it was illegally stolen and reposted in violation of United States & global trademark & copyright laws. The original version of this story can be viewed at https://www.baseball-news-blog.com/2017/07/18/nomura-asset-management-co-ltd-acquires-7177-shares-of-rite-aid-corporation-nyserad.html. Evercore downgraded the shares of RAD in report on Wednesday, January 6 to "Hold" rating. Credit Suisse Group reissued an "outperform" rating and set a $6.50 target price on shares of Rite Aid Corporation in a research report on Monday, March 20th. Guggenheim downgraded Rite Aid Corporation from a "buy" rating to a "neutral" rating in a research report on Tuesday, April 25th. Bank of America reinitiated it with "Underperform" rating and $2 target in Friday, June 30 report. Assuming the company uses the $5.2 billion in cash it receives from Walgreens to pay down debt, the debt burden not only would fall to around $2.5 billion, but it would drastically reduce the interest expense Rite Aid pays on the balance.

Rite Aid Corporation is a retail drugstore chain. Per the deal, Walgreens will buy 2,186 Rite Aid stores, associated distribution assets and inventory.

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