Sendas Distribuidora (NYSE:ASAI) Sees Large Volume Increase – Still a Buy?

Shares of Sendas Distribuidora S.A. (NYSE:ASAI) saw unusually-high trading volume on Wednesday . Approximately 236,072 shares changed hands during mid-day 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.

Wall Street Analyst Weigh In

Several research firms have recently commented on ASAI. Hsbc Global Res raised Sendas Distribuidora to a “strong-buy” rating in a research note on Tuesday, September 24th. Bank of America lowered Sendas Distribuidora from a “buy” rating to a “neutral” rating and set a $9.10 price objective for the company. in a research report on Friday, September 13th.

Sendas Distribuidora Stock Up 0.4 %

The business’s fifty day simple moving average is $5.48 and its 200 day simple moving average is $7.33. The stock has a market cap of $1.25 billion, a price-to-earnings ratio of 10.02, a price-to-earnings-growth ratio of 0.44 and a beta of 0.95. The company has a current ratio of 0.86, a quick ratio of 0.43 and a debt-to-equity ratio of 4.15.

Sendas Distribuidora Cuts Dividend

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

Institutional Trading of Sendas Distribuidora

A number of hedge funds have recently modified their holdings of ASAI. Coronation Fund Managers Ltd. raised its holdings in Sendas Distribuidora by 23.6% in the second quarter. Coronation Fund Managers Ltd. now owns 7,441,629 shares of the company’s stock worth $69,207,000 after purchasing an additional 1,422,458 shares during the period. Ruane Cunniff & Goldfarb L.P. raised its stake in Sendas Distribuidora by 9.4% during the 3rd quarter. Ruane Cunniff & Goldfarb L.P. now owns 151,270 shares of the company’s stock worth $1,041,000 after buying an additional 12,988 shares during the period. Renaissance Technologies LLC bought a new position in Sendas Distribuidora during the second quarter worth about $810,000. SPX Gestao de Recursos Ltda lifted its holdings in Sendas Distribuidora by 13.3% during the second quarter. SPX Gestao de Recursos Ltda now owns 81,733 shares of the company’s stock worth $760,000 after acquiring an additional 9,607 shares in the last quarter. Finally, Walleye Capital LLC acquired a new position in Sendas Distribuidora in the third quarter valued at about $535,000. 8.76% of the stock is currently owned by institutional investors and hedge funds.

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.