Market Runner: Is Selling Rite Aid Corporation Here a Winning Strategy?

Market Runner: Is Selling Rite Aid Corporation Here a Winning Strategy?

The stock of Rite Aid Corporation (NYSE:RAD) is a huge mover today! About 18.68M shares traded hands or 14.95% up from the average. Rite Aid Corporation (NYSE:RAD) has declined 8.10% since March 9, 2016 and is downtrending. It has underperformed by 15.52% the S&P500.
The move comes after 6 months negative chart setup for the $7.48 billion company. It was reported on Oct, 12 by We have $6.52 PT which if reached, will make NYSE:RAD worth $598.40M less.

Rite Aid Corporation (NYSE:RAD) Ratings Coverage

Out of 10 analysts covering Rite Aid (NYSE:RAD), 4 rate it a “Buy”, 0 “Sell”, while 6 “Hold”. This means 40% are positive. Rite Aid has been the topic of 13 analyst reports since August 6, 2015 according to StockzIntelligence Inc. The stock of Rite Aid Corporation (NYSE:RAD) earned “Buy” rating by Vetr on Friday, August 14. The firm earned “Hold” rating on Wednesday, January 6 by Evercore. On Wednesday, August 19 the stock rating was upgraded by Vetr to “Buy”. The stock of Rite Aid Corporation (NYSE:RAD) earned “Neutral” rating by JP Morgan on Friday, November 13. The stock has “Hold” rating given by Deutsche Bank on Friday, April 8. The firm has “Neutral” rating by Goldman Sachs given on Thursday, October 29. Vetr downgraded the stock to “Buy” rating in Thursday, August 6 report. The firm has “Buy” rating by Bank of America given on Thursday, August 13. The firm has “Buy” rating by Mizuho given on Thursday, September 17. The stock has “Neutral” rating given by Credit Suisse on Thursday, October 29.

According to Zacks Investment Research, “Rite Aid Corporation is a retail drugstore chain in the United States serving customers in numerous states across the country and in the District of Columbia. It operates stores in the majority of the major U.S. metropolitan markets. The company operates in two business segments: the retail drug segment and the pharmacy benefit management segment.”

Insitutional Activity: The institutional sentiment decreased to 0.88 in 2016 Q2. Its down 0.29, from 1.17 in 2016Q1. The ratio dived, as 47 funds sold all Rite Aid Corporation shares owned while 142 reduced positions. 49 funds bought stakes while 117 increased positions. They now own 632.53 million shares or 0.00% more from 632.50 million shares in 2016Q1.
Commerzbank Aktiengesellschaft Fi holds 0% or 70,273 shares in its portfolio. Creative Planning owns 160,775 shares or 0.01% of their US portfolio. Farallon Cap Limited, a California-based fund reported 472,022 shares. California Public Employees Retirement has 2.19 million shares for 0.03% of their US portfolio. Riggs Asset Managment has invested 0.01% of its portfolio in Rite Aid Corporation (NYSE:RAD). Wesbanco Natl Bank last reported 0% of its portfolio in the stock. Moreover, Raymond James And Assoc has 0% invested in Rite Aid Corporation (NYSE:RAD) for 205,628 shares. Aperio Group Ltd Liability Company last reported 0.01% of its portfolio in the stock. Springbok Cap Mgmt Limited Liability Company last reported 117,676 shares in the company. West Oak Capital Ltd accumulated 0% or 2,050 shares. The Minnesota-based Walleye Trading Ltd Limited Liability Company has invested 0.02% in Rite Aid Corporation (NYSE:RAD). Smithfield holds 0% or 1,000 shares in its portfolio. Driehaus Ltd Liability Co accumulated 9.62 million shares or 2.57% of the stock. Westover Capital Advisors Limited Company holds 22,803 shares or 0.14% of its portfolio. The New York-based Citigroup has invested 0.01% in Rite Aid Corporation (NYSE:RAD).

Insider Transactions: Since June 15, 2016, the stock had 0 buys, and 1 sale for $265,161 net activity. On Wednesday, June 15 Donley Douglas E sold $265,161 worth of the stock or 34,106 shares.

More recent Rite Aid Corporation (NYSE:RAD) news were published by: which released: “Rite Aid Brings Back Vote For Your Favorite Pharmacy Team Member Contest” on October 03, 2016. Also published the news titled: “Rite Aid Makes Halloween Shopping Frightfully Exciting” on October 12, 2016.‘s news article titled: “Rite Aid Corporation (NYSE:RAD) Earnings, Comps Decline” with publication date: September 22, 2016 was also an interesting one.

RAD Company Profile

Rite Aid Corporation, incorporated on April 15, 1968, is a retail drugstore chain. The Company’s divisions include Retail Pharmacy and Pharmacy Services. The Firm 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 subsidiaries include Envision Insurance Company (EIC), RediClinic and Health Dialog.

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