Arrowgrass Capital Partners (us) Lp buys $280,723,126 stake in Rite Aid Corporation (RAD)

Rite Aid Corporation (RAD) : Arrowgrass Capital Partners (us) Lp scooped up 34,345,011 additional shares in Rite Aid Corporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 37,181,871 shares of Rite Aid Corporation which is valued at $280,723,126.Rite Aid Corporation makes up approximately 6.77% of Arrowgrass Capital Partners (us) Lp’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.Pioneer Investment Management Inc reduced its stake in RAD by selling 1,479 shares or 0.16% in the most recent quarter. The Hedge Fund company now holds 919,826 shares of RAD which is valued at $6,944,686. Rite Aid Corporation makes up approx 0.02% of Pioneer Investment Management Inc’s portfolio.First New York Securities Ny boosted its stake in RAD in the latest quarter, The investment management firm added 12,250 additional shares and now holds a total of 97,400 shares of Rite Aid Corporation which is valued at $678,878. Rite Aid Corporation makes up approx 0.68% of First New York Securities Ny’s portfolio.

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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