Sendas Distribuidora (NYSE:ASAI) Downgraded to Hold at Zacks Investment Research

Sendas Distribuidora (NYSE:ASAIGet Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Wednesday, Zacks.com reports.

According to Zacks, “Sendas Distribuidora SA engages in the retail and wholesale of food and other products through its stores. It operates through the Cash and Carry, and Éxito Group segment. The Cash and Carry segment includes its business under the Assai brand. The Éxito Group segment consists of its businesses in Columbia, Argentina, and Uruguay under the Éxito, Surtimax, Super Inter, and Carulla brands. Sendas Distribuidora SA is headquartered in Sao Paulo, Brazil. “

Shares of Sendas Distribuidora stock traded down $0.13 during trading hours on Wednesday, reaching $16.22. The company had a trading volume of 458,945 shares, compared to its average volume of 220,208. Sendas Distribuidora has a one year low of $9.73 and a one year high of $18.55. The business has a fifty day simple moving average of $16.09 and a 200 day simple moving average of $13.58. The company has a debt-to-equity ratio of 4.06, a current ratio of 1.01 and a quick ratio of 0.51.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Aaron Wealth Advisors LLC purchased a new position in Sendas Distribuidora during the 1st quarter valued at about $302,000. Eagle Bay Advisors LLC increased its holdings in Sendas Distribuidora by 86.7% during the 3rd quarter. Eagle Bay Advisors LLC now owns 5,600 shares of the company’s stock valued at $98,000 after purchasing an additional 2,600 shares during the period. Bank of America Corp DE increased its holdings in Sendas Distribuidora by 13.2% during the 2nd quarter. Bank of America Corp DE now owns 10,144 shares of the company’s stock valued at $173,000 after purchasing an additional 1,182 shares during the period. WINTON GROUP Ltd purchased a new position in Sendas Distribuidora during the 1st quarter valued at about $238,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in Sendas Distribuidora by 14.7% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 14,783 shares of the company’s stock valued at $175,000 after purchasing an additional 1,898 shares during the period.

About Sendas Distribuidora (Get Rating)

Sendas Distribuidora SA engages in the retail and wholesale sale of food products, bazaar items, and other products in Brazil. As of March 31, 2022, the company operated 216 stores under the Assaí banner, as well as 13 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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