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

Sendas Distribuidora S.A. (NYSE:ASAI)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $4.47, but opened at $4.35. Sendas Distribuidora shares last traded at $4.37, with a volume of 51,121 shares trading hands.

Analyst Ratings Changes

ASAI has been the topic of several recent research reports. JPMorgan Chase & Co. cut shares of Sendas Distribuidora from an “overweight” rating to a “neutral” rating and set a $10.50 target price on the stock. in a report on Monday, September 9th. Hsbc Global Res raised shares of Sendas Distribuidora to a “strong-buy” rating in a report on Tuesday, September 24th. Finally, Bank of America downgraded shares of Sendas Distribuidora from a “buy” rating to a “neutral” rating and set a $9.10 price objective for the company. in a research note on Friday, September 13th.

Sendas Distribuidora Price Performance

The firm has a market capitalization of $1.16 billion, a P/E ratio of 9.35, a P/E/G ratio of 0.44 and a beta of 0.92. The stock’s fifty day simple moving average is $5.56 and its 200 day simple moving average is $7.44. 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 disclosed a — dividend, which will be paid on Friday, March 7th. Investors of record on Friday, January 10th will be paid a dividend of $0.0488 per share. The ex-dividend date of this dividend is Friday, January 10th. Sendas Distribuidora’s dividend payout ratio (DPR) is presently 10.87%.

Institutional Investors Weigh In On Sendas Distribuidora

Several institutional investors have recently bought and sold shares of ASAI. Renaissance Technologies LLC purchased a new stake in shares of Sendas Distribuidora during the 2nd quarter valued at $810,000. Coronation Fund Managers Ltd. increased its position in Sendas Distribuidora by 23.6% during the 2nd quarter. Coronation Fund Managers Ltd. now owns 7,441,629 shares of the company’s stock valued at $69,207,000 after buying an additional 1,422,458 shares in the last quarter. Sequoia Financial Advisors LLC purchased a new stake in Sendas Distribuidora in the third quarter valued at about $77,000. Signaturefd LLC grew its stake in shares of 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 acquiring an additional 6,567 shares during the last quarter. Finally, Creative Planning grew its stake in shares of Sendas Distribuidora by 110.0% during the third 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 last quarter. 8.76% of the stock is currently owned by institutional investors and hedge funds.

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.