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

Sendas Distribuidora S.A. (NYSE:ASAI) saw a large increase in short interest in the month of September. As of September 15th, there was short interest totalling 5,640,000 shares, an increase of 155.2% from the August 31st total of 2,210,000 shares. Based on an average trading volume of 429,500 shares, the short-interest ratio is currently 13.1 days.

Hedge Funds Weigh In On Sendas Distribuidora

A number of institutional investors have recently made changes to their positions in the stock. Coronation Fund Managers Ltd. raised its position in shares of Sendas Distribuidora by 35.2% in the second quarter. Coronation Fund Managers Ltd. now owns 8,135,612 shares of the company’s stock valued at $75,661,000 after buying an additional 2,116,441 shares during the last quarter. Vanguard Group Inc. raised its holdings in Sendas Distribuidora by 6.0% in the 1st quarter. Vanguard Group Inc. now owns 1,124,903 shares of the company’s stock valued at $16,626,000 after acquiring an additional 63,227 shares during the last quarter. Breakout Capital Partners LP purchased a new position in shares of Sendas Distribuidora during the 4th quarter worth $13,347,000. Renaissance Group LLC boosted its holdings in shares of Sendas Distribuidora by 6.8% during the first quarter. Renaissance Group LLC now owns 531,101 shares of the company’s stock worth $7,876,000 after purchasing an additional 33,937 shares during the last quarter. Finally, Barings LLC grew its position in shares of Sendas Distribuidora by 28.9% in the first quarter. Barings LLC now owns 403,015 shares of the company’s stock valued at $5,957,000 after purchasing an additional 90,256 shares during the period. 8.76% of the stock is owned by institutional investors and hedge funds.

Sendas Distribuidora Price Performance

ASAI traded up $0.34 during midday trading on Thursday, reaching $7.38. 276,465 shares of the company’s stock were exchanged, compared to its average volume of 344,768. Sendas Distribuidora has a 1-year low of $6.94 and a 1-year high of $15.25. The stock has a market capitalization of $2.00 billion, a PE ratio of 13.32, a P/E/G ratio of 0.61 and a beta of 1.04. The company has a debt-to-equity ratio of 4.18, a current ratio of 0.84 and a quick ratio of 0.45. The business’s 50-day moving average price is $8.65 and its 200 day moving average price is $11.09.

Sendas Distribuidora (NYSE:ASAI) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.02. Sendas Distribuidora had a return on equity of 14.49% and a net margin of 0.95%. The firm had revenue of $3.43 billion during the quarter, compared to the consensus estimate of $3.60 billion. As a group, equities analysts anticipate that Sendas Distribuidora will post 0.43 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ASAI has been the topic of a number of research reports. JPMorgan Chase & Co. cut Sendas Distribuidora from an “overweight” rating to a “neutral” rating and set a $10.50 price target on the stock. in a report on Monday, September 9th. Bank of America lowered Sendas Distribuidora from a “buy” rating to a “neutral” rating and set a $9.10 target price on the stock. in a report on Friday, September 13th.

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.