Atria Investments Inc Buys 98,162 Shares of Ambev S.A. (NYSE:ABEV)

Atria Investments Inc raised its stake in shares of Ambev S.A. (NYSE:ABEV) by 84.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 214,565 shares of the company’s stock after purchasing an additional 98,162 shares during the quarter. Atria Investments Inc’s holdings in Ambev were worth $524,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. HTLF Bank bought a new stake in shares of Ambev in the 3rd quarter worth approximately $26,000. Lake Street Advisors Group LLC bought a new stake in shares of Ambev in the 1st quarter worth approximately $28,000. Riversedge Advisors LLC bought a new stake in shares of Ambev in the 3rd quarter worth approximately $31,000. Foster Group Inc. bought a new stake in shares of Ambev in the 3rd quarter worth approximately $33,000. Finally, BSW Wealth Partners bought a new stake in shares of Ambev in the 3rd quarter worth approximately $33,000. 8.13% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. StockNews.com assumed coverage on shares of Ambev in a report on Friday, October 18th. They issued a “buy” rating for the company. UBS Group lowered their price target on shares of Ambev from $3.20 to $2.90 and set a “buy” rating for the company in a report on Wednesday, July 31st. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $2.75.

Ambev Price Performance

Shares of Ambev stock opened at $2.18 on Wednesday. The company has a current ratio of 1.20, a quick ratio of 0.89 and a debt-to-equity ratio of 0.02. The company’s fifty day simple moving average is $2.30 and its two-hundred day simple moving average is $2.25. The company has a market cap of $34.34 billion, a P/E ratio of 12.11, a PEG ratio of 6.88 and a beta of 1.06. Ambev S.A. has a 12-month low of $2.01 and a 12-month high of $3.00.

About Ambev

Ambev SA, through its subsidiaries, engages in the production, distribution, and sale of beer, draft beer, carbonated soft drinks, malt and food, other alcoholic beverages, and non-alcoholic and non-carbonated products in Brazil, Central America and Caribbean, Latin America South, and Canada. It offers beer primarily under the Skol, Brahma, Antarctica, Brahva, Budweiser, Bud Light, Beck, Leffe, Hoegaarden, Balboa ICE, Balboa, Atlas Golden Light, Atlas, Bucanero, Cristal, Mayabe, Presidente, Presidente Light, Brahma Light, Bohemia, The One, Corona, Modelo Especial, Stella Artois, Quilmes Clásica, Paceña, Taquiña, Huari, Becker, Cusqueña, Michelob Ultra, Busch, Pilsen, Ouro Fino, Bud 66, Banks, Deputy, Patricia, Labatt Blue, Alexander Keith’s, and Kokanee brands.