Sendas Distribuidora (NYSE:ASAI) Stock Price Down 3.1%

Shares of Sendas Distribuidora S.A. (NYSE:ASAI) were down 3.1% on Friday . The company traded as low as $9.50 and last traded at $9.52. Approximately 24,723 shares changed hands during mid-day trading, a decline of 92% from the average daily volume of 295,802 shares. The stock had previously closed at $9.82.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. upgraded shares of Sendas Distribuidora from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $15.00 to $17.00 in a report on Tuesday, April 23rd.

Sendas Distribuidora Price Performance

The firm has a market capitalization of $2.54 billion, a P/E ratio of 18.53, a P/E/G ratio of 0.41 and a beta of 1.11. The company has a debt-to-equity ratio of 4.10, a current ratio of 0.77 and a quick ratio of 0.39. The firm’s 50 day simple moving average is $12.08 and its two-hundred day simple moving average is $13.33.

Sendas Distribuidora (NYSE:ASAI) last posted its earnings results on Wednesday, April 24th. The company reported $0.05 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.05. The business had revenue of $3.48 billion for the quarter, compared to analysts’ expectations of $3.36 billion. Sendas Distribuidora had a net margin of 1.02% and a return on equity of 15.74%. As a group, analysts predict that Sendas Distribuidora S.A. will post 0.58 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Bayesian Capital Management LP purchased a new position in Sendas Distribuidora during the first quarter worth approximately $160,000. Thornburg Investment Management Inc. boosted its stake in Sendas Distribuidora by 10.8% during the first quarter. Thornburg Investment Management Inc. now owns 71,720 shares of the company’s stock worth $1,033,000 after buying an additional 7,001 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Sendas Distribuidora by 6.0% in the first quarter. Vanguard Group Inc. now owns 1,124,903 shares of the company’s stock valued at $16,626,000 after purchasing an additional 63,227 shares during the period. SageView Advisory Group LLC acquired a new stake in shares of Sendas Distribuidora during the 1st quarter worth about $69,000. Finally, Barings LLC boosted its position in shares of Sendas Distribuidora by 28.9% during the 1st quarter. Barings LLC now owns 403,015 shares of the company’s stock worth $5,957,000 after purchasing an additional 90,256 shares during the period. 8.76% of the stock is currently owned by hedge funds and other institutional investors.

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.