Sendas Distribuidora (NYSE:ASAI) Shares Gap Up – Here’s What Happened

Sendas Distribuidora S.A. (NYSE:ASAI)’s share price gapped up before the market opened on Monday . The stock had previously closed at $4.30, but opened at $4.58. Sendas Distribuidora shares last traded at $4.55, with a volume of 33,353 shares traded.

Wall Street Analysts Forecast Growth

ASAI has been the subject of several recent analyst reports. 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 report on Friday, September 13th. Hsbc Global Res raised shares of Sendas Distribuidora to a “strong-buy” rating in a research note on Tuesday, September 24th. Finally, JPMorgan Chase & Co. lowered 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 note on Monday, September 9th.

Sendas Distribuidora Trading Up 7.7 %

The company has a quick ratio of 0.43, a current ratio of 0.86 and a debt-to-equity ratio of 4.15. The business’s fifty day simple moving average is $5.56 and its two-hundred day simple moving average is $7.40. The company has a market cap of $1.25 billion, a price-to-earnings ratio of 10.07, a PEG ratio of 0.44 and a beta of 0.95.

Sendas Distribuidora Cuts Dividend

The business also recently disclosed a — dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, January 10th will be issued a dividend of $0.0488 per share. The ex-dividend date of this dividend is Friday, January 10th. Sendas Distribuidora’s payout ratio is currently 8.70%.

Institutional Trading of Sendas Distribuidora

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ASAI. Blue Trust Inc. increased its holdings in shares of Sendas Distribuidora by 145.6% in the 3rd quarter. Blue Trust Inc. now owns 3,716 shares of the company’s stock valued at $26,000 after acquiring an additional 2,203 shares during the period. Signaturefd LLC increased its holdings in shares of Sendas Distribuidora by 186.4% in the 3rd quarter. Signaturefd LLC now owns 10,091 shares of the company’s stock valued at $69,000 after acquiring an additional 6,567 shares during the period. Sequoia Financial Advisors LLC acquired a new position in shares of Sendas Distribuidora in the 3rd quarter valued at $77,000. AQR Capital Management LLC increased its stake in Sendas Distribuidora by 44.4% in the 2nd quarter. AQR Capital Management LLC now owns 19,738 shares of the company’s stock valued at $184,000 after buying an additional 6,068 shares during the period. Finally, Marshall Wace LLP acquired a new position in Sendas Distribuidora in the 2nd quarter valued at $212,000. Institutional investors and hedge funds 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.