Rite Aid Corp (NYSE:RAD).
Canyon Capital Advisors LLC reports that it increased its stake in Rite Aid Corp stock by 315.6% in the quarter ending 09/30/2017. Its stake was valued at $3,920,000 an increase of $2,501,000 as of quarter end.
Several firms have updated their holdings. Brave Asset Management Inc grew its stake by buying 27,500 shares an increase of 110.0% from 06/30/2017 to 09/30/2017. Brave Asset Management Inc claims 52,500 shares valued at $103,000. The total value of its holdings increased 39.2%. As of quarter end Omers Administration Corp had disposed of 16,000 shares trimming its stake by 8.6%. The value of the company’s investment in Rite Aid Corp went from $549,000 to $333,000 a change of $216,000 since the last quarter.
As of the end of the quarter Canyon Capital Advisors LLC had bought a total of 1,518,825 shares growing its holdings by 315.6%. The value of the investment in RAD increased from $1,419,000 to $3,920,000 increasing 176.3% quarter over quarter. Canyon Capital Advisors LLC expanded its position by buying 1,518,825 shares an increase of 315.6% as of 09/30/2017. Canyon Capital Advisors LLC now holds 2,000,000 shares with a value of $3,920,000. The value of the position overall is up by 176.3%.
As of quarter end Raymond James & Associates had bought a total of 303,148 shares growing its position 41.0%. The value of the investment in (RAD) went from $2,182,000 to $2,044,000 a change of 6.3% quarter to quarter.
On October 25 analysts at Royal Bank Of Canada released a research note on RAD with a rating of “Hold” and projecting a price target of $2.00. On October 7, 2017 Mizuho updated coverage of RAD and giving a rating of “Hold” and price target of $2.00.
Mizuho lowered the price target of the stock on October 6 changing the price objective from $2.95 to $2.25 and issued a “Neutral” recommendation. On October 2 Guggenheim kept the stock rating at “Neutral” with a current price target of $2.00.
September 29 investment analysts at Loop Capital made no change to the stock rating of “Hold” targeting a price of $2.00. Royal Bank Of Canada updated guidance on RAD by announcing an initial rating of “Sector Perform”.
The company is unchanged by 0.34% since yesterday’s close of 1.49. Rite Aid Corp’s P/E ratio is 18.13 and the market value is 1.58B. In the last earnings report the EPS was $0.08 with 1.06B shares now outstanding.
Investors are feeling more bearish on shares of the company lately as shown by the rise in short interest. The company realized a rise in short interest from September 29, 2017 to October 13, 2017 of 31.67%. Short interest increased 44,249,278 over that timeframe. Days to cover increased 3.0 to 6.0 and the percentage of shorted shares is 0.17% as of October 13.