The Executive VP of Rite Aid (NYSE: RAD) is Selling Shares

By Carrie Williams

Yesterday, the Executive VP of Rite Aid (RADResearch Report), Konrad Jocelyn, sold shares of RAD for $437.4K.

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Based on Rite Aid’s latest earnings report for the quarter ending May 31, the company posted quarterly revenue of $6.16 billion and GAAP net loss of -$13,057,000. In comparison, last year the company earned revenue of $6.03 billion and had a GAAP net loss of $63.54 million. The company has a one-year high of $32.48 and a one-year low of $8.86. RAD’s market cap is $842 million and the company has a P/E ratio of -20.40.

Based on 3 analyst ratings, the analyst consensus is Moderate Sell with an average price target of $12.67, reflecting a 21.2% upside.

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Rite Aid Corp. engages in the ownership and management of retail drug stores. It operates through the Retail Pharmacy and Pharmacy Services business segments. The Retail Pharmacy segment includes branded and generic prescription drugs, health and beauty aids, personal care products, and walk-in retail clinics. The Pharmacy Services segment offers transparent and traditional pharmacy benefit management for insurance companies, employers, health plans, and government employee groups. The company was founded by Alex Grass in September 1962 and is headquartered in Camp Hill, PA.