Mirae Asset Global Investments Co. Ltd. Sells 3,599 Shares of Sendas Distribuidora S.A. (NYSE:ASAI)

Mirae Asset Global Investments Co. Ltd. decreased its stake in shares of Sendas Distribuidora S.A. (NYSE:ASAI) by 22.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,384 shares of the company’s stock after selling 3,599 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Sendas Distribuidora were worth $93,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Coronation Fund Managers Ltd. lifted its stake in Sendas Distribuidora by 35.2% in the second quarter. Coronation Fund Managers Ltd. now owns 8,135,612 shares of the company’s stock valued at $75,661,000 after buying an additional 2,116,441 shares in the last quarter. Barings LLC grew its holdings in Sendas Distribuidora by 28.9% during the first quarter. Barings LLC now owns 403,015 shares of the company’s stock worth $5,957,000 after purchasing an additional 90,256 shares during the period. Renaissance Technologies LLC acquired a new stake in Sendas Distribuidora during the 2nd quarter valued at $810,000. Vanguard Group Inc. lifted its stake in shares of Sendas Distribuidora by 6.0% during the 1st quarter. Vanguard Group Inc. now owns 1,124,903 shares of the company’s stock worth $16,626,000 after buying an additional 63,227 shares during the last quarter. Finally, Marshall Wace LLP bought a new stake in shares of Sendas Distribuidora during the second quarter worth approximately $212,000. 8.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have weighed in on ASAI. Bank of America cut shares of Sendas Distribuidora from a “buy” rating to a “neutral” rating and set a $9.10 price objective for the company. in a research note on Friday, September 13th. JPMorgan Chase & Co. cut shares of Sendas Distribuidora from an “overweight” rating to a “neutral” rating and set a $10.50 price objective for the company. in a research report on Monday, September 9th. Finally, Hsbc Global Res raised Sendas Distribuidora to a “strong-buy” rating in a research note on Tuesday, September 24th.

Sendas Distribuidora Price Performance

ASAI stock opened at $6.78 on Tuesday. The company has a debt-to-equity ratio of 4.18, a quick ratio of 0.45 and a current ratio of 0.84. The business has a 50-day simple moving average of $7.16 and a two-hundred day simple moving average of $9.56. Sendas Distribuidora S.A. has a 52-week low of $5.73 and a 52-week high of $15.25. The company has a market capitalization of $1.83 billion, a P/E ratio of 13.56, a price-to-earnings-growth ratio of 0.52 and a beta of 1.03.

Sendas Distribuidora (NYSE:ASAI) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.02. The company had revenue of $3.43 billion for the quarter, compared to analysts’ expectations of $3.60 billion. Sendas Distribuidora had a net margin of 0.95% and a return on equity of 14.49%. Research analysts expect that Sendas Distribuidora S.A. will post 0.46 EPS for the current fiscal year.

About Sendas Distribuidora

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.