Sendas Distribuidora (NYSE:ASAI) Trading Up 4.9% - Here's What Happened

Sendas Distribuidora S.A. (NYSE:ASAI - Get Free Report) shares shot up 4.9% during mid-day trading on Monday . The company traded as high as $6.65 and last traded at $6.64. 35,329 shares changed hands during trading, a decline of 90% from the average session volume of 369,756 shares. The stock had previously closed at $6.33.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Bank of America lowered shares of Sendas Distribuidora from a "buy" rating to a "neutral" rating and set a $9.10 price target for the company. in a report on Friday, September 13th. JPMorgan Chase & Co. lowered Sendas Distribuidora from an "overweight" rating to a "neutral" rating and set a $10.50 price objective for the company. in a research note on Monday, September 9th. Finally, Hsbc Global Res raised Sendas Distribuidora to a "strong-buy" rating in a research report on Tuesday, September 24th.

Sendas Distribuidora Stock Up 7.1 %

The company has a quick ratio of 0.45, a current ratio of 0.84 and a debt-to-equity ratio of 4.18. The firm has a market capitalization of $1.83 billion, a price-to-earnings ratio of 13.56, a P/E/G ratio of 0.52 and a beta of 1.03. The stock has a 50 day moving average of $7.16 and a 200 day moving average of $9.56.

Sendas Distribuidora (NYSE:ASAI - Get Free Report) last issued its earnings results on Thursday, August 8th. The company reported $0.09 EPS for the quarter, topping the consensus estimate of $0.07 by $0.02. The company had revenue of $3.43 billion during the quarter, compared to analyst estimates of $3.60 billion. Sendas Distribuidora had a return on equity of 14.49% and a net margin of 0.95%. As a group, analysts expect that Sendas Distribuidora S.A. will post 0.46 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sendas Distribuidora

A number of large investors have recently bought and sold shares of ASAI. Blue Trust Inc. boosted its holdings in shares of Sendas Distribuidora by 145.6% during the third quarter. Blue Trust Inc. now owns 3,716 shares of the company's stock valued at $26,000 after acquiring an additional 2,203 shares during the period. SageView Advisory Group LLC bought a new position in Sendas Distribuidora in the 1st quarter worth about $69,000. Signaturefd LLC increased its stake in shares of Sendas Distribuidora by 186.4% in the third quarter. Signaturefd LLC now owns 10,091 shares of the company's stock valued at $69,000 after purchasing an additional 6,567 shares during the period. Sequoia Financial Advisors LLC acquired a new position in shares of Sendas Distribuidora during the third quarter worth approximately $77,000. Finally, Privium Fund Management B.V. grew its holdings in 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 buying an additional 2,900 shares in the last quarter. 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.