Sendas Distribuidora (NYSE:ASAI) Shares Gap Down to $8.34

Sendas Distribuidora S.A. (NYSE:ASAI) gapped down before the market opened on Monday . The stock had previously closed at $8.34, but opened at $8.17. Sendas Distribuidora shares last traded at $8.18, with a volume of 91,529 shares changing hands.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. downgraded Sendas Distribuidora from an “overweight” rating to a “neutral” rating and set a $10.50 target price for the company. in a research report on Monday.

Sendas Distribuidora Stock Down 4.0 %

The company has a market cap of $2.12 billion, a PE ratio of 14.80, a PEG ratio of 0.55 and a beta of 1.04. The stock’s 50 day moving average price is $9.21 and its 200-day moving average price is $11.59. The company has a debt-to-equity ratio of 4.18, a quick ratio of 0.45 and a current ratio of 0.84.

Sendas Distribuidora (NYSE:ASAI) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.02. Sendas Distribuidora had a return on equity of 14.49% and a net margin of 0.95%. The business had revenue of $3.43 billion for the quarter, compared to analyst estimates of $3.60 billion. On average, analysts predict that Sendas Distribuidora S.A. will post 0.49 earnings per share for the current year.

Hedge Funds Weigh In On Sendas Distribuidora

A number of hedge funds have recently modified their holdings of the company. SageView Advisory Group LLC bought a new stake in shares of Sendas Distribuidora during the 1st quarter valued at about $69,000. PNC Financial Services Group Inc. grew its holdings in shares of Sendas Distribuidora by 29.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 7,479 shares of the company’s stock worth $103,000 after acquiring an additional 1,713 shares during the period. Privium Fund Management B.V. raised its position in shares of Sendas Distribuidora by 26.3% in the 2nd quarter. Privium Fund Management B.V. now owns 13,928 shares of the company’s stock worth $122,000 after acquiring an additional 2,900 shares in the last quarter. Jump Financial LLC purchased a new position in shares of Sendas Distribuidora in the 4th quarter valued at approximately $143,000. Finally, Bayesian Capital Management LP bought a new stake in shares of Sendas Distribuidora during the first quarter valued at approximately $160,000. Hedge funds and other institutional investors 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.