Sendas Distribuidora (NYSE:ASAI) Sets New 12-Month Low at $7.90

Sendas Distribuidora S.A. (NYSE:ASAI)’s stock price reached a new 52-week low on Tuesday . The company traded as low as $7.90 and last traded at $7.90, with a volume of 52993 shares changing hands. The stock had previously closed at $8.17.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. lowered Sendas Distribuidora from an “overweight” rating to a “neutral” rating and set a $10.50 price target on the stock. in a research note on Monday.

Sendas Distribuidora Trading Down 4.3 %

The company has a debt-to-equity ratio of 4.18, a quick ratio of 0.45 and a current ratio of 0.84. The firm has a market capitalization of $2.11 billion, a price-to-earnings ratio of 15.42, a P/E/G ratio of 0.55 and a beta of 1.04. The business has a fifty day moving average price of $9.23 and a 200 day moving average price of $11.64.

Sendas Distribuidora (NYSE:ASAI) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.02. Sendas Distribuidora had a net margin of 0.95% and a return on equity of 14.49%. The firm had revenue of $3.43 billion for the quarter, compared to analysts’ expectations of $3.60 billion. As a group, equities analysts forecast that Sendas Distribuidora S.A. will post 0.49 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. PNC Financial Services Group Inc. boosted its stake in shares of Sendas Distribuidora by 29.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 7,479 shares of the company’s stock valued at $103,000 after buying an additional 1,713 shares during the last quarter. Privium Fund Management B.V. boosted its holdings in shares of Sendas Distribuidora by 26.3% during the second quarter. Privium Fund Management B.V. now owns 13,928 shares of the company’s stock valued at $122,000 after acquiring an additional 2,900 shares during the period. SageView Advisory Group LLC bought a new position in shares of Sendas Distribuidora during the first quarter worth about $69,000. AQR Capital Management LLC boosted its stake in Sendas Distribuidora by 44.4% during the 2nd quarter. AQR Capital Management LLC now owns 19,738 shares of the company’s stock valued at $184,000 after purchasing an additional 6,068 shares during the period. Finally, Thornburg Investment Management Inc. increased its position in Sendas Distribuidora by 10.8% in the 1st quarter. Thornburg Investment Management Inc. now owns 71,720 shares of the company’s stock valued at $1,033,000 after acquiring an additional 7,001 shares during the period. Institutional investors and hedge funds own 8.76% of the company’s stock.

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.