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

Sendas Distribuidora S.A. (NYSE:ASAIGet Rating) was the recipient of a significant drop in short interest in April. As of April 15th, there was short interest totalling 257,300 shares, a drop of 31.4% from the March 31st total of 374,800 shares. Based on an average daily volume of 193,300 shares, the short-interest ratio is currently 1.3 days.

Several equities analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Sendas Distribuidora from a “hold” rating to a “buy” rating and set a $20.00 target price for the company in a research note on Wednesday, April 20th. HSBC upgraded shares of Sendas Distribuidora from a “hold” rating to a “buy” rating in a research note on Monday, January 24th.

A number of large investors have recently modified their holdings of ASAI. Coronation Fund Managers Ltd. grew its stake in Sendas Distribuidora by 17.3% during the fourth quarter. Coronation Fund Managers Ltd. now owns 8,347,527 shares of the company’s stock valued at $98,918,000 after acquiring an additional 1,230,172 shares in the last quarter. Morgan Stanley grew its stake in Sendas Distribuidora by 403.7% during the second quarter. Morgan Stanley now owns 780,775 shares of the company’s stock valued at $13,351,000 after acquiring an additional 625,765 shares in the last quarter. Soapstone Management L.P. purchased a new position in Sendas Distribuidora during the fourth quarter valued at approximately $4,943,000. Jane Street Group LLC grew its stake in Sendas Distribuidora by 40.1% during the third quarter. Jane Street Group LLC now owns 948,399 shares of the company’s stock valued at $16,531,000 after acquiring an additional 271,390 shares in the last quarter. Finally, Ruane Cunniff & Goldfarb L.P. purchased a new position in Sendas Distribuidora during the fourth quarter valued at approximately $1,144,000. 5.22% of the stock is owned by institutional investors.

Shares of NYSE:ASAI opened at $15.58 on Friday. The company has a 50 day moving average of $15.28 and a 200 day moving average of $13.53. Sendas Distribuidora has a 12 month low of $9.73 and a 12 month high of $18.55. The company has a quick ratio of 0.51, a current ratio of 1.01 and a debt-to-equity ratio of 4.06.

The company also recently disclosed a Variable dividend, which will be paid on Tuesday, July 5th. Investors of record on Monday, May 9th will be paid a dividend of $0.124 per share. The ex-dividend date of this dividend is Friday, May 6th.

Sendas Distribuidora Company Profile (Get Rating)

Sendas Distribuidora SA engages in the retail and wholesale sale of food products, bazaar items, and other products in Brazil. As of April 22, 2021, the company operated 185 stores under the Assaí banner, as well as 10 distribution centers. It serves restaurants, pizzerias, snack bars, schools, small businesses, religious institutions, hospitals, hotels, grocery stores, neighborhood supermarkets, and individuals.

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