Sendas Distribuidora (NYSE:ASAI) Stock Price Down 3.1%

Sendas Distribuidora S.A. (NYSE:ASAI)’s share price was down 3.1% during mid-day trading on Friday . The stock traded as low as $9.50 and last traded at $9.52. Approximately 24,723 shares changed hands during trading, a decline of 92% from the average daily volume of 295,802 shares. The stock had previously closed at $9.82.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. raised shares of Sendas Distribuidora from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $15.00 to $17.00 in a research note on Tuesday, April 23rd.

Sendas Distribuidora Trading Down 5.3 %

The stock has a market capitalization of $2.51 billion, a PE ratio of 17.55, a P/E/G ratio of 0.42 and a beta of 1.11. The company has a quick ratio of 0.39, a current ratio of 0.77 and a debt-to-equity ratio of 4.10. The business’s fifty day moving average is $12.01 and its 200-day moving average is $13.31.

Sendas Distribuidora (NYSE:ASAI) last announced its quarterly earnings results on Wednesday, April 24th. The company reported $0.05 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.05. Sendas Distribuidora had a net margin of 1.02% and a return on equity of 15.74%. The firm had revenue of $3.48 billion for the quarter, compared to analysts’ expectations of $3.36 billion. As a group, analysts anticipate that Sendas Distribuidora S.A. will post 0.58 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ASAI. Breakout Capital Partners LP bought a new stake in Sendas Distribuidora during the fourth quarter valued at $13,347,000. Royal London Asset Management Ltd. increased its stake in shares of Sendas Distribuidora by 888.9% during the fourth quarter. Royal London Asset Management Ltd. now owns 307,970 shares of the company’s stock valued at $4,256,000 after acquiring an additional 276,826 shares during the period. ANTIPODES PARTNERS Ltd increased its stake in shares of Sendas Distribuidora by 22.1% during the fourth quarter. ANTIPODES PARTNERS Ltd now owns 1,189,841 shares of the company’s stock valued at $16,443,000 after acquiring an additional 215,324 shares during the period. Brandes Investment Partners LP increased its stake in shares of Sendas Distribuidora by 146.1% during the fourth quarter. Brandes Investment Partners LP now owns 176,981 shares of the company’s stock valued at $2,446,000 after acquiring an additional 105,073 shares during the period. Finally, Barings LLC grew its position in Sendas Distribuidora by 28.9% in the first quarter. Barings LLC now owns 403,015 shares of the company’s stock worth $5,957,000 after buying an additional 90,256 shares during the last quarter. 8.76% of the stock is owned by institutional investors and hedge funds.

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.