Sendas Distribuidora (NYSE:ASAI) Shares Gap Up - Time to Buy?

Sendas Distribuidora S.A. (NYSE:ASAI - Get Free Report) 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 analysts recently commented on the stock. JPMorgan Chase & Co. cut shares of 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. Hsbc Global Res raised Sendas Distribuidora to a "strong-buy" rating in a research note on Tuesday, September 24th. Finally, Bank of America cut Sendas Distribuidora from a "buy" rating to a "neutral" rating and set a $9.10 price target on the stock. in a report on Friday, September 13th.

Sendas Distribuidora Stock Up 6.7 %

The company has a market cap of $1.24 billion, a PE ratio of 9.98, a P/E/G ratio of 0.44 and a beta of 0.95. The firm has a 50-day simple moving average of $5.56 and a two-hundred day simple moving average of $7.40. The company has a debt-to-equity ratio of 4.15, a current ratio of 0.86 and a quick ratio of 0.43.

Sendas Distribuidora Cuts Dividend

The company also recently announced a -- dividend, which will be paid on Friday, March 7th. Investors of record on Friday, January 10th will be paid a $0.0488 dividend. The ex-dividend date is Friday, January 10th. Sendas Distribuidora's payout ratio is 8.70%.

Institutional Trading of Sendas Distribuidora

A number of hedge funds have recently bought and sold shares of the company. Renaissance Technologies LLC purchased a new position in shares of Sendas Distribuidora during the 2nd quarter worth $810,000. Coronation Fund Managers Ltd. boosted its stake in Sendas Distribuidora by 23.6% in the 2nd quarter. Coronation Fund Managers Ltd. now owns 7,441,629 shares of the company's stock worth $69,207,000 after buying an additional 1,422,458 shares during the last quarter. Sequoia Financial Advisors LLC purchased a new stake in Sendas Distribuidora in the 3rd quarter valued at about $77,000. Signaturefd LLC increased its stake in shares of 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 during the last quarter. Finally, Creative Planning lifted its holdings in shares of Sendas Distribuidora by 110.0% during the 3rd quarter. Creative Planning now owns 36,339 shares of the company's stock worth $250,000 after acquiring an additional 19,034 shares during the period. Institutional investors and hedge funds 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.