Indexiq Advisors buys $5,828,072 stake in Rite Aid Corporation (RAD)

Rite Aid Corporation (RAD) : Indexiq Advisors scooped up 157,013 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 11, 2016. The investment management firm now holds a total of 771,930 shares of Rite Aid Corporation which is valued at $5,828,072.Rite Aid Corporation makes up approximately 0.34% of Indexiq Advisors’s portfolio.

Other Hedge Funds, Including , Bessemer Group Inc sold out all of its stake in RAD during the most recent quarter. The investment firm sold 190 shares of RAD which is valued $1,435. Mizuho Asset Managementltd. added RAD to its portfolio by purchasing 14,661 company shares during the most recent quarter which is valued at $110,691. Rite Aid Corporation makes up approx 0.02% of Mizuho Asset Managementltd.’s portfolio. Nippon Life Insurance Co sold out all of its stake in RAD during the most recent quarter. The investment firm sold 46,012 shares of RAD which is valued $321,164.

Rite Aid Corporation closed down -0.08 points or -1.03% at $7.65 with 78,97,679 shares getting traded on Tuesday. Post opening the session at $7.72, the shares hit an intraday low of $7.61 and an intraday high of $7.75 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

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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