Rite Aid surges on Albertsons merger plan

Rite Aid

Other institutional investors also recently bought and sold shares of the company.

Consumer stocks were broadly lower today, with shares of consumer staples companies in the S&P 500 sinking over 2.1% this afternoon while shares of consumer discretionary firms in the S&P 500 were falling almost 0.4%.

Rite Aid Corporation (NYSE:RAD) is worth US$2.29 Billion and has recently risen 3.29% to US$2.2.

Want to see what other hedge funds are holding RAD? Highfields Capital Management Lp acquired 25.00M shares as Rite Aid Corp (RAD)'s stock declined 41.75%. Trust Company Of Vermont holds 0% or 9,000 shares in its portfolio.

The retail REIT's shares were up around 2 percent Tuesday afternoon on the news. Harbor Advisors LLC grew its stake in shares of Rite Aid by 300.0% in the third quarter. Currently, 13.6% of the company's shares are sold short.

Albertsons is a private company, but once the share exchanges are complete, almost 393 million outstanding shares will be traded on the New York Stock Exchange, the news release states.

Shares of Rite Aid Co. (NYSE RAD) opened at $2.13 on Monday. He said no acquisitions of Maryland Rite Aids would be finalized until next month. The company has a debt-to-equity ratio of 3.66, a quick ratio of 0.59 and a current ratio of 0.86.

Among new and sold out positions, 61 holders initiated new positions by a total of 11.77 million shares and 45 holders exited their positions by a total of 36.73 million shares. Evercore ISI assumed coverage on shares of Rite Aid in a research note on Thursday, January 4th.

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And they're not the only companies trying to stay above water.

Analysts await Rite Aid Corporation (NYSE:RAD) to report earnings on April, 24. The forecast of 7 surveyed investment analysts covering the stock advises investors to Buy stake in the company.

When it comes to the Analysis of a Stock, Price Target plays a vital role.

TRADEMARK VIOLATION WARNING: This piece was first published by The Lincolnian Online and is the property of of The Lincolnian Online. If you are reading this piece of content on another site, it was illegally stolen and reposted in violation of United States & global copyright & trademark legislation. The original version of this piece of content can be viewed at https://www.equitiesfocus.com/2018/02/20/cetera-advisor-networks-llc-buys-256960-shares-of-rite-aid-co-rad.html. Rite Aid has struggled against stronger competitors, and it's not clear how the grocery retailer might improve its fortunes. The Company's segments include Retail Pharmacy and Pharmacy Services.

Will they keep the Rite Aid name? .

Rite Aid is in the process of selling 1,932 of its approximately 4,600 stores to rival Walgreen Boots Alliance.

"Drug retailing has had its own challenges with reimbursement pressure and weak front-end sales as evidenced in Rite-Aid's weak profits over the last couple of years, and competing with much larger and more diversified drug retailers like CVS and Walgreens will be a formidable challenge", wrote Moody's vice president Mickey Chadha, in an email sent to Food Dive.


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    Trading is expected to be slower than usual due market holidays in the United States as well as Greater China and India. I don't think we're going to see a spike to the upside unless there is a direct effect on supply.


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