Sendas Distribuidora (NYSE:ASAI) Shares Down 3.5%

Shares of Sendas Distribuidora S.A. (NYSE:ASAI) fell 3.5% on Thursday . The company traded as low as $7.73 and last traded at $7.74. 280,429 shares were traded during mid-day trading, a decline of 16% from the average session volume of 332,436 shares. The stock had previously closed at $8.02.

Wall Street Analyst Weigh In

ASAI has been the topic of several research reports. Bank of America cut Sendas Distribuidora from a “buy” rating to a “neutral” rating and set a $9.10 price objective on the stock. in a research report on Friday, September 13th. JPMorgan Chase & Co. lowered Sendas Distribuidora from an “overweight” rating to a “neutral” rating and set a $10.50 price target on the stock. in a research report on Monday, September 9th.

Sendas Distribuidora Trading Down 7.7 %

The stock’s fifty day simple moving average is $8.89 and its two-hundred day simple moving average is $11.32. The firm has a market cap of $1.91 billion, a PE ratio of 13.36, a PEG ratio of 0.58 and a beta of 1.04. The company has a quick ratio of 0.45, a current ratio of 0.84 and a debt-to-equity ratio of 4.18.

Sendas Distribuidora (NYSE:ASAI) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.02. The company had revenue of $3.43 billion for the quarter, compared to the consensus estimate of $3.60 billion. Sendas Distribuidora had a return on equity of 14.49% and a net margin of 0.95%. On average, sell-side analysts forecast that Sendas Distribuidora S.A. will post 0.44 EPS for the current fiscal year.

Institutional Investors Weigh In On Sendas Distribuidora

Institutional investors and hedge funds have recently made changes to their positions in the company. Coronation Fund Managers Ltd. boosted its holdings in Sendas Distribuidora by 23.6% in the second quarter. Coronation Fund Managers Ltd. now owns 7,441,629 shares of the company’s stock worth $69,207,000 after purchasing an additional 1,422,458 shares during the last quarter. SPX Gestao de Recursos Ltda grew its stake in shares of Sendas Distribuidora by 13.3% during the 2nd quarter. SPX Gestao de Recursos Ltda now owns 81,733 shares of the company’s stock valued at $760,000 after purchasing an additional 9,607 shares during the period. AQR Capital Management LLC grew its holdings in Sendas Distribuidora by 44.4% during the second quarter. AQR Capital Management LLC now owns 19,738 shares of the company’s stock valued at $184,000 after purchasing an additional 6,068 shares during the period. Marshall Wace LLP purchased a new stake in Sendas Distribuidora in the second quarter worth about $212,000. Finally, Renaissance Technologies LLC purchased a new position in shares of Sendas Distribuidora during the 2nd quarter valued at about $810,000. Institutional investors own 8.76% of the company’s stock.

Sendas Distribuidora Company Profile

Sendas Distribuidora SA engages in the retail and wholesale sale of food products, bazaar items, and other products in Brazil. The company serves restaurants, pizzerias, snack bars, schools, small businesses, religious institutions, hospitals, hotels, grocery stores, neighborhood supermarkets, and individuals.