Joseph Anderson Jr., Director of Rite Aid Corporation (NYSE:RAD) sold a bulk of 26,667 shares (Common Stock), directly, yesterday, for a price of $7.05 per share. Following the sale, Anderson now holds a total of 299,254 shares of the $6.9 billion market cap firm. Furthermore, this insider stock sale was the second transaction completed in Junes, proceeded by Rite Aid’s Executive Vice President, Ivan Robert Thompson, who unloaded 510,000 shares of Common Stock for $7.06 per share on Monday.
Also, most hedge funds with a shareholder position at the drugstore chain company remained solid and confident this past quarter, with some even increasing Rite Aid Corporation’s participation in their portfolio. Arrowstreet Capital, (run by Peter Rathjens, Bruce Clarke, and John Campbell), for one, increased the firm’s portfolio activity by 10%, and now owns 25.5 million shares, with a value of $185 million. Rite also comprises 1.36% of Alexander Mitchell’s Scopus Asset Management, with 8 million shares, worth $50.2 million.