Aigen Investment Management LP Sells 20,076 Shares of Ambev S.A. (NYSE:ABEV)

Aigen Investment Management LP trimmed its position in shares of Ambev S.A. (NYSE:ABEV) by 34.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 37,700 shares of the company’s stock after selling 20,076 shares during the period. Aigen Investment Management LP’s holdings in Ambev were worth $92,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. CANADA LIFE ASSURANCE Co boosted its holdings in Ambev by 5.2% during the first quarter. CANADA LIFE ASSURANCE Co now owns 8,545,370 shares of the company’s stock valued at $21,270,000 after purchasing an additional 423,792 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its holdings in shares of Ambev by 8.9% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 70,787 shares of the company’s stock worth $176,000 after acquiring an additional 5,767 shares in the last quarter. Kiltearn Partners LLP boosted its holdings in shares of Ambev by 73.3% in the 1st quarter. Kiltearn Partners LLP now owns 10,168,100 shares of the company’s stock worth $24,607,000 after acquiring an additional 4,300,000 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Ambev by 311.9% in the 2nd quarter. Assenagon Asset Management S.A. now owns 768,419 shares of the company’s stock worth $1,575,000 after acquiring an additional 581,880 shares in the last quarter. Finally, Raymond James & Associates raised its position in Ambev by 154.0% in the 2nd quarter. Raymond James & Associates now owns 1,805,328 shares of the company’s stock worth $3,701,000 after purchasing an additional 1,094,629 shares during the last quarter. 8.13% of the stock is currently owned by institutional investors.

Ambev Price Performance

NYSE:ABEV opened at $2.21 on Monday. The stock’s 50 day moving average price is $2.31 and its two-hundred day moving average price is $2.25. Ambev S.A. has a 12-month low of $2.01 and a 12-month high of $3.00. The firm has a market capitalization of $34.82 billion, a price-to-earnings ratio of 12.28, a P/E/G ratio of 6.88 and a beta of 1.06. The company has a quick ratio of 0.89, a current ratio of 1.20 and a debt-to-equity ratio of 0.02.

Analyst Ratings Changes

ABEV has been the subject of several research analyst reports. UBS Group dropped their price objective on shares of Ambev from $3.20 to $2.90 and set a “buy” rating for the company in a research report on Wednesday, July 31st. StockNews.com began coverage on shares of Ambev in a research report on Friday, October 18th. They issued a “buy” rating for the company. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, Ambev currently has an average rating of “Hold” and a consensus price target of $2.75.

Ambev Profile

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.