Sendas Distribuidora (NYSE:ASAI) Shares Down 2.7% – Here’s What Happened

Sendas Distribuidora S.A. (NYSE:ASAI) traded down 2.7% on Friday . The company traded as low as $4.28 and last traded at $4.31. 56,151 shares changed hands during trading, a decline of 69% from the average session volume of 179,676 shares. The stock had previously closed at $4.43.

Analyst Ratings Changes

ASAI has been the subject of several research reports. Bank of America cut shares of Sendas Distribuidora from a “buy” rating to a “neutral” rating and set a $9.10 price target for the company. in a research report on Friday, September 13th. Hsbc Global Res raised Sendas Distribuidora to a “strong-buy” rating in a research report on Tuesday, September 24th. Finally, JPMorgan Chase & Co. downgraded 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.

Sendas Distribuidora Stock Performance

The firm’s 50-day moving average is $5.60 and its two-hundred day moving average is $7.49. The company has a current ratio of 0.86, a quick ratio of 0.43 and a debt-to-equity ratio of 4.15. The stock has a market cap of $1.17 billion, a price-to-earnings ratio of 9.41, a P/E/G ratio of 0.44 and a beta of 0.92.

Sendas Distribuidora Cuts Dividend

The firm also recently disclosed a — dividend, which will be paid on Friday, March 7th. Investors 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 currently 10.87%.

Hedge Funds Weigh In On Sendas Distribuidora

Hedge funds have recently made changes to their positions in the company. Centiva Capital LP lifted its stake in shares of Sendas Distribuidora by 208.1% in the 3rd quarter. Centiva Capital LP now owns 47,857 shares of the company’s stock worth $329,000 after acquiring an additional 32,326 shares during the period. Walleye Capital LLC purchased a new stake in Sendas Distribuidora in the 3rd quarter worth approximately $535,000. Ruane Cunniff & Goldfarb L.P. increased its stake in Sendas Distribuidora by 9.4% in the third quarter. Ruane Cunniff & Goldfarb L.P. now owns 151,270 shares of the company’s stock valued at $1,041,000 after purchasing an additional 12,988 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Sendas Distribuidora during the 3rd quarter valued at about $258,000. Finally, Signaturefd LLC raised its stake in Sendas Distribuidora by 186.4% during the third quarter. Signaturefd LLC now owns 10,091 shares of the company’s stock worth $69,000 after purchasing an additional 6,567 shares during the period. 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.