Sendas Distribuidora (NYSE:ASAI) Sees Strong Trading Volume – Here’s Why

Sendas Distribuidora S.A. (NYSE:ASAI) shares saw unusually-high trading volume on Wednesday . Approximately 236,072 shares were traded during trading, a decline of 46% from the previous session’s volume of 436,351 shares.The stock last traded at $4.48 and had previously closed at $4.59.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Hsbc Global Res upgraded shares of Sendas Distribuidora to a “strong-buy” rating in a report on Tuesday, September 24th. Bank of America lowered shares of Sendas Distribuidora from a “buy” rating to a “neutral” rating and set a $9.10 target price for the company. in a research note on Friday, September 13th.

Sendas Distribuidora Price Performance

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 company has a 50 day simple moving average of $5.48 and a 200 day simple moving average of $7.33. The stock has a market cap of $1.25 billion, a P/E ratio of 10.02, a PEG ratio of 0.44 and a beta of 0.95.

Sendas Distribuidora Cuts Dividend

The firm also recently disclosed a — dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, January 10th will be given a $0.0488 dividend. The ex-dividend date of this dividend is Friday, January 10th. Sendas Distribuidora’s dividend payout ratio is presently 8.70%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. Renaissance Technologies LLC acquired a new stake in Sendas Distribuidora in the second quarter valued at $810,000. Coronation Fund Managers Ltd. increased its holdings in shares of Sendas Distribuidora by 23.6% during the 2nd quarter. Coronation Fund Managers Ltd. now owns 7,441,629 shares of the company’s stock worth $69,207,000 after acquiring an additional 1,422,458 shares during the last quarter. Sequoia Financial Advisors LLC bought a new stake in Sendas Distribuidora in the 3rd quarter valued at $77,000. Signaturefd LLC lifted its holdings in 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 purchasing an additional 6,567 shares during the last quarter. Finally, Creative Planning boosted its position in 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 purchasing an additional 19,034 shares during the period. 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.