Sendas Distribuidora (NYSE:ASAI) Shares Up 6.1%

Sendas Distribuidora S.A. (NYSE:ASAI)’s share price shot up 6.1% during trading on Monday . The stock traded as high as $9.86 and last traded at $9.86. 167,830 shares were traded during mid-day trading, a decline of 46% from the average session volume of 308,598 shares. The stock had previously closed at $9.29.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. raised their target price on Sendas Distribuidora from $17.00 to $18.00 and gave the company an “overweight” rating in a report on Tuesday, July 23rd.

Sendas Distribuidora Stock Performance

The company’s 50 day moving average price is $9.62 and its 200-day moving average price is $12.13. The stock has a market cap of $2.43 billion, a P/E ratio of 16.98, a price-to-earnings-growth ratio of 0.39 and a beta of 1.05. The company has a debt-to-equity ratio of 4.10, a quick ratio of 0.39 and a current ratio of 0.77.

Hedge Funds Weigh In On Sendas Distribuidora

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Federated Hermes Inc. boosted its holdings in shares of Sendas Distribuidora by 63.0% in the 4th quarter. Federated Hermes Inc. now owns 67,990 shares of the company’s stock worth $940,000 after buying an additional 26,290 shares during the last quarter. Jump Financial LLC purchased a new position in Sendas Distribuidora in the fourth quarter valued at about $143,000. Barings LLC grew its position in shares of Sendas Distribuidora by 17.6% during the 4th quarter. Barings LLC now owns 312,759 shares of the company’s stock valued at $4,322,000 after acquiring an additional 46,818 shares during the period. Brandes Investment Partners LP increased its stake in shares of Sendas Distribuidora by 146.1% during the 4th quarter. Brandes Investment Partners LP now owns 176,981 shares of the company’s stock worth $2,446,000 after purchasing an additional 105,073 shares during the last quarter. Finally, Royal London Asset Management Ltd. raised its holdings in shares of 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 period. Hedge funds and other institutional investors 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.