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

Sendas Distribuidora S.A. (NYSE:ASAI) shares gapped up prior to trading 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

A number of analysts have recently commented on ASAI shares. Bank of America lowered Sendas Distribuidora from a “buy” rating to a “neutral” rating and set a $9.10 price target on the stock. in a research note on Friday, September 13th. Hsbc Global Res upgraded shares of Sendas Distribuidora to a “strong-buy” rating in a report on Tuesday, September 24th.

Sendas Distribuidora Stock Up 2.0 %

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 stock’s 50-day simple moving average is $5.48 and its 200 day simple moving average is $7.33. The firm has a market cap of $1.27 billion, a P/E ratio of 10.17, 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. Stockholders of record on Friday, January 10th will be given a dividend of $0.0488 per share. The ex-dividend date of this dividend is Friday, January 10th. Sendas Distribuidora’s dividend payout ratio (DPR) is 8.70%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in ASAI. Blue Trust Inc. raised its stake in shares of Sendas Distribuidora by 145.6% in the third quarter. Blue Trust Inc. now owns 3,716 shares of the company’s stock worth $26,000 after purchasing an additional 2,203 shares during the last quarter. Signaturefd LLC lifted its stake in Sendas Distribuidora by 186.4% during 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 in the last quarter. Sequoia Financial Advisors LLC bought a new position in Sendas Distribuidora during the 3rd quarter valued at $77,000. AQR Capital Management LLC boosted its holdings in Sendas Distribuidora by 44.4% during the 2nd quarter. AQR Capital Management LLC now owns 19,738 shares of the company’s stock worth $184,000 after acquiring an additional 6,068 shares during the last quarter. Finally, Marshall Wace LLP bought a new stake in shares of Sendas Distribuidora in the 2nd quarter worth $212,000. Institutional investors own 8.76% of the company’s stock.

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.