Sendas Distribuidora (NYSE:ASAI) Sees Strong Trading Volume – Time to Buy?

Shares of Sendas Distribuidora S.A. (NYSE:ASAI) saw unusually-strong 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.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on ASAI shares. Bank of America lowered Sendas Distribuidora from a “buy” rating to a “neutral” rating and set a $9.10 price objective on the stock. in a research note on Friday, September 13th. Hsbc Global Res upgraded Sendas Distribuidora to a “strong-buy” rating in a research report on Tuesday, September 24th.

Sendas Distribuidora Stock Performance

The company has a 50-day moving average of $5.40 and a 200 day moving average of $7.29. The company has a quick ratio of 0.43, a current ratio of 0.86 and a debt-to-equity ratio of 4.15. The firm has a market capitalization of $1.27 billion, a PE ratio of 10.17, a PEG ratio of 0.44 and a beta of 0.95.

Sendas Distribuidora Cuts Dividend

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

Institutional Investors Weigh In On Sendas Distribuidora

Several institutional investors have recently bought and sold shares of ASAI. Centiva Capital LP lifted its holdings in Sendas Distribuidora by 208.1% in the 3rd quarter. Centiva Capital LP now owns 47,857 shares of the company’s stock worth $329,000 after buying an additional 32,326 shares during the period. Walleye Capital LLC purchased a new stake in Sendas Distribuidora in the 3rd quarter worth approximately $535,000. Ruane Cunniff & Goldfarb L.P. lifted its holdings in Sendas Distribuidora by 9.4% in 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. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Sendas Distribuidora in the 3rd quarter worth approximately $258,000. Finally, Signaturefd LLC lifted its holdings in Sendas Distribuidora by 186.4% in the 3rd quarter. Signaturefd LLC now owns 10,091 shares of the company’s stock worth $69,000 after buying an additional 6,567 shares during the period. 8.76% of the stock is currently owned by hedge funds and other 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.