Litespeed Management L.l.c. adds Rite Aid Corporation (RAD) to its portfolio

Rite Aid Corporation (RAD) : Litespeed Management L.l.c. added new position in Rite Aid Corporation during the most recent quarter end. The investment management firm now holds 1,291,175 shares of Rite Aid Corporation which is valued at $9,748,371 , the company said in a statement filed on Aug 15, 2016 with the SEC.Rite Aid Corporation makes up approximately 1.94% of Litespeed Management L.l.c.’s portfolio.

Other Hedge Funds, Including , Compagnie Lombard Odier Scma reduced its stake in RAD by selling 100,000 shares or 50.0% in the most recent quarter. The Hedge Fund company now holds 100,000 shares of RAD which is valued at $755,000. Rite Aid Corporation makes up approx 0.02% of Compagnie Lombard Odier Scma’s portfolio. Alpine Partners Vi added RAD to its portfolio by purchasing 255,692 company shares during the most recent quarter which is valued at $1,930,475. Rite Aid Corporation makes up approx 0.87% of Alpine Partners Vi’s portfolio.Peak6 Investments boosted its stake in RAD in the latest quarter, The investment management firm added 133,167 additional shares and now holds a total of 171,936 shares of Rite Aid Corporation which is valued at $1,298,117. Rite Aid Corporation makes up approx 0.08% of Peak6 Investments’s portfolio.Daiwa Securities Group boosted its stake in RAD in the latest quarter, The investment management firm added 3,400 additional shares and now holds a total of 24,500 shares of Rite Aid Corporation which is valued at $170,765.

Rite Aid Corporation opened for trading at $7.57 and hit $7.575 on the upside on Thursday, eventually ending the session at $7.54, with a gain of 0.13% or 0.01 points. The heightened volatility saw the trading volume jump to 35,36,276 shares. Company has a market cap of $7,909 M.

On the company’s financial health, Rite Aid Corporation reported $0.01 EPS for the quarter, missing the analyst consensus estimate by $ -0.03 based on the information available during the earnings call on Jun 16, 2016. Analyst had a consensus of $0.04. The company had revenue of $8184.20 million for the quarter, compared to analysts expectations of $8200.56 million. The company’s revenue was up 23.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.04 EPS.

Rite Aid Corporation is a retail drugstore chain. The Company sells prescription drugs and a range of other merchandise which are referred to as front-end products. The Company’s drugstores’ primary business is pharmacy services. It operates approximately 4570 stores in 31 states across the country and in the District of Columbia. Its front-end products include over-the-counter medications health and beauty aids personal care items cosmetics household items food and beverages greeting cards seasonal merchandise and various other every day and convenience products. The Company offers a range of products through its portfolio of private brands. Its classes of products include prescription drugs over-the-counter medications and personal care health and beauty aids and general merchandise and other. It sells private brand and co-branded products. It operates under The Rite Aid name.

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