Sendas Distribuidora S.A. (NYSE:ASAI) Sees Large Drop in Short Interest

Sendas Distribuidora S.A. (NYSE:ASAIGet Free Report) saw a large drop in short interest during the month of April. As of April 30th, there was short interest totalling 2,670,000 shares, a drop of 10.1% from the April 15th total of 2,970,000 shares. Based on an average daily trading volume, of 295,400 shares, the short-interest ratio is presently 9.0 days.

Sendas Distribuidora Trading Down 0.5 %

Sendas Distribuidora stock opened at $12.82 on Wednesday. Sendas Distribuidora has a 1 year low of $10.44 and a 1 year high of $15.25. The firm’s 50-day moving average is $13.79 and its 200-day moving average is $13.61. The company has a debt-to-equity ratio of 4.10, a quick ratio of 0.39 and a current ratio of 0.77. The company has a market cap of $3.47 billion, a P/E ratio of 24.19, a PEG ratio of 0.62 and a beta of 1.17.

Sendas Distribuidora (NYSE:ASAIGet Free Report) last issued its earnings results on Wednesday, February 21st. The company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.01. The firm had revenue of $3.72 billion for the quarter, compared to analysts’ expectations of $3.98 billion. Sendas Distribuidora had a net margin of 1.02% and a return on equity of 15.74%. On average, equities analysts expect that Sendas Distribuidora will post 0.63 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. ANTIPODES PARTNERS Ltd bought a new stake in Sendas Distribuidora in the third quarter valued at $11,772,000. Breakout Capital Partners LP acquired a new position in Sendas Distribuidora during the 4th quarter valued at about $13,347,000. Royal London Asset Management Ltd. grew its position in Sendas Distribuidora by 888.9% in the 4th quarter. Royal London Asset Management Ltd. now owns 307,970 shares of the company’s stock worth $4,256,000 after purchasing an additional 276,826 shares during the last quarter. Brandes Investment Partners LP increased its stake in shares of Sendas Distribuidora by 146.1% in the fourth quarter. Brandes Investment Partners LP now owns 176,981 shares of the company’s stock valued at $2,446,000 after purchasing an additional 105,073 shares during the period. Finally, Barings LLC raised its holdings in shares of Sendas Distribuidora by 28.9% during the first quarter. Barings LLC now owns 403,015 shares of the company’s stock valued at $5,957,000 after buying an additional 90,256 shares during the last quarter. Institutional investors and hedge funds own 8.76% of the company’s stock.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. upgraded Sendas Distribuidora from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $15.00 to $17.00 in a report on Tuesday, April 23rd.

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About Sendas Distribuidora

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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.

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