Sendas Distribuidora (NYSE:ASAI) Shares Gap Down – Should You Sell?

Sendas Distribuidora S.A. (NYSE:ASAI) 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 changing hands.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on ASAI shares. Hsbc Global Res raised shares of Sendas Distribuidora to a “strong-buy” rating in a report on Tuesday, September 24th. JPMorgan Chase & Co. cut Sendas Distribuidora from an “overweight” rating to a “neutral” rating and set a $10.50 target price for the company. in a report on Monday, September 9th. Finally, Bank of America lowered 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 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 market capitalization of $1.16 billion, a PE ratio of 9.35, a price-to-earnings-growth ratio of 0.44 and a beta of 0.92. The stock’s 50-day moving average is $5.56 and its two-hundred day moving average is $7.44.

Sendas Distribuidora Cuts Dividend

The firm also recently declared a — dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, January 10th will be issued a $0.0488 dividend. The ex-dividend date is Friday, January 10th. Sendas Distribuidora’s payout ratio is 10.87%.

Institutional Trading of Sendas Distribuidora

Institutional investors and hedge funds have recently made changes to their positions in the business. Daiwa Securities Group Inc. increased its stake in Sendas Distribuidora by 66.7% in the 2nd quarter. Daiwa Securities Group Inc. now owns 35,000 shares of the company’s stock worth $326,000 after buying an additional 14,000 shares during the period. Renaissance Technologies LLC bought a new position in Sendas Distribuidora in the 2nd quarter worth about $810,000. Marshall Wace LLP purchased a new position in shares of Sendas Distribuidora during the second quarter worth approximately $212,000. AQR Capital Management LLC raised its stake in shares of Sendas Distribuidora by 44.4% during the second quarter. AQR Capital Management LLC now owns 19,738 shares of the company’s stock valued at $184,000 after acquiring an additional 6,068 shares in the last quarter. Finally, SPX Gestao de Recursos Ltda boosted its holdings in shares of Sendas Distribuidora by 13.3% in the second quarter. SPX Gestao de Recursos Ltda now owns 81,733 shares of the company’s stock valued at $760,000 after purchasing an additional 9,607 shares during the period. 8.76% of the stock is currently owned by institutional investors.

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.