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

Sendas Distribuidora S.A. (NYSE:ASAI) 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.

Analysts Set New Price Targets

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

Sendas Distribuidora Stock Up 7.7 %

The company has a debt-to-equity ratio of 4.15, a quick ratio of 0.43 and a current ratio of 0.86. The firm’s 50-day moving average is $5.56 and its 200 day moving average is $7.40. The firm has a market capitalization of $1.25 billion, a PE ratio of 10.07, a price-to-earnings-growth ratio of 0.44 and a beta of 0.95.

Sendas Distribuidora Cuts Dividend

The company also recently announced a — dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, January 10th will be issued a $0.0488 dividend. The ex-dividend date is Friday, January 10th. Sendas Distribuidora’s dividend payout ratio (DPR) is 8.70%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ASAI. Blue Trust Inc. lifted its holdings in 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 purchasing an additional 2,203 shares in the last quarter. Signaturefd LLC lifted its holdings in 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 purchasing an additional 6,567 shares in the last quarter. Sequoia Financial Advisors LLC purchased a new position in Sendas Distribuidora in the 3rd quarter valued at about $77,000. AQR Capital Management LLC lifted its holdings 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 purchasing an additional 6,068 shares in the last quarter. Finally, Marshall Wace LLP purchased a new position in Sendas Distribuidora in the 2nd quarter valued at about $212,000. 8.76% of the stock is currently owned by hedge funds and other institutional investors.

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.