Shares of Sendas Distribuidora S.A. (NYSE:ASAI – Get Free Report) were up 5.3% during mid-day trading on Thursday . The company traded as high as $4.34 and last traded at $4.34. Approximately 368,795 shares traded hands during mid-day trading, a decline of 12% from the average daily volume of 419,360 shares. The stock had previously closed at $4.12.
Analyst Ratings Changes
A number of analysts recently commented on ASAI shares. JPMorgan Chase & Co. cut Sendas Distribuidora from an “overweight” rating to a “neutral” rating and set a $10.50 price objective for the company. in a research report on Monday, September 9th. Bank of America downgraded shares of Sendas Distribuidora from a “buy” rating to a “neutral” rating and set a $9.10 price objective on the stock. in a report on Friday, September 13th. Finally, Hsbc Global Res raised shares of Sendas Distribuidora to a “strong-buy” rating in a report on Tuesday, September 24th.
Read Our Latest Stock Analysis on Sendas Distribuidora
Sendas Distribuidora Stock Up 6.3 %
Hedge Funds Weigh In On Sendas Distribuidora
Hedge funds have recently modified their holdings of the company. Coronation Fund Managers Ltd. grew its position in shares of Sendas Distribuidora by 23.6% during 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 in the last quarter. Renaissance Technologies LLC bought a new stake in shares of Sendas Distribuidora during the second quarter valued at approximately $810,000. Walleye Capital LLC purchased a new position in shares of Sendas Distribuidora in the third quarter worth $535,000. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Sendas Distribuidora during the third quarter worth $258,000. Finally, Centiva Capital LP grew its stake in Sendas Distribuidora by 208.1% during the third quarter. Centiva Capital LP now owns 47,857 shares of the company’s stock valued at $329,000 after acquiring an additional 32,326 shares in the last quarter. 8.76% of the stock is currently owned by institutional investors.
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.
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