Manikay Partners buys $78,081,300 stake in Rite Aid Corporation (RAD)

Rite Aid Corporation (RAD) : Manikay Partners scooped up 3,305,000 additional shares in Rite Aid Corporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Nov 14, 2016. The investment management firm now holds a total of 10,755,000 shares of Rite Aid Corporation which is valued at $78,081,300.Rite Aid Corporation makes up approximately 4.77% of Manikay Partners’s portfolio.

Other Hedge Funds, Including , Bronfman E.l. Rothschild reduced its stake in RAD by selling 30 shares or 35.29% in the most recent quarter. The Hedge Fund company now holds 55 shares of RAD which is valued at $355.

Rite Aid Corporation opened for trading at $7.68 and hit $7.74 on the upside on Monday, eventually ending the session at $7.67, with a gain of 0.79% or 0.06 points. The heightened volatility saw the trading volume jump to 82,42,450 shares. Company has a market cap of $8,070 M.

On the company’s financial health, Rite Aid Corporation reported $0.03 EPS for the quarter, based on the information available during the earnings call on Sep 22, 2016. Analyst had a consensus estimate of $0.03. The company had revenue of $8029.80 million for the quarter, compared to analysts expectations of $8165.07 million. The company’s revenue was up 4.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.02 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.

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *

Rite Aid Corporation - Is it time to Sell?

Top Brokerage Firms are advising their investors on Rite Aid Corporation. Subscribe to MoneyFlowIndex.Org Pre-Market Alerts, You will be the first to know the street buzz.