Rite Aid Co. (NYSE:RAD) was the target of a large decline in short interest during the month of February. As of February 28th, there was short interest totalling 117,744,376 shares, a decline of 19.5% from the February 15th total of 146,207,083 shares. Currently, 11.5% of the shares of the company are sold short. Based on an average trading volume of 47,974,511 shares, the days-to-cover ratio is currently 2.5 days.
Institutional investors and hedge funds have recently modified their holdings of the stock. Sequoia Financial Advisors LLC bought a new position in Rite Aid during the 4th quarter worth $101,000. Brave Asset Management Inc. grew its stake in Rite Aid by 52.4% during the 4th quarter. Brave Asset Management Inc. now owns 80,000 shares of the company’s stock worth $158,000 after buying an additional 27,500 shares during the last quarter. Parametrica Management Ltd bought a new position in Rite Aid during the 4th quarter worth $182,000. State of Alaska Department of Revenue bought a new position in Rite Aid during the 4th quarter worth $195,000. Finally, Xact Kapitalforvaltning AB bought a new position in Rite Aid during the 4th quarter worth $195,000. Hedge funds and other institutional investors own 47.47% of the company’s stock.
Shares of Rite Aid (NYSE:RAD) opened at $1.63 on Thursday. Rite Aid has a twelve month low of $1.38 and a twelve month high of $5.15. The company has a debt-to-equity ratio of 3.66, a current ratio of 0.86 and a quick ratio of 0.59. The firm has a market capitalization of $1,740.00, a P/E ratio of 14.82 and a beta of 1.78.
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Rite Aid Company Profile
Rite Aid Corporation is a retail drugstore chain. The Company’s segments include Retail Pharmacy and Pharmacy Services. The Company 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 Retail Pharmacy segment consists of Rite Aid stores, RediClinic and Health Dialog.
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