Short Interest in Sendas Distribuidora S.A. (NYSE:ASAI) Expands By 7.6%

Sendas Distribuidora S.A. (NYSE:ASAI - Get Free Report) was the target of a significant growth in short interest in April. As of April 15th, there was short interest totalling 2,970,000 shares, a growth of 7.6% from the March 31st total of 2,760,000 shares. Based on an average daily trading volume, of 307,100 shares, the days-to-cover ratio is currently 9.7 days.

Institutional Investors Weigh In On Sendas Distribuidora

Hedge funds and other institutional investors have recently modified their holdings of the company. ANTIPODES PARTNERS Ltd raised its stake in Sendas Distribuidora by 22.1% in the fourth quarter. ANTIPODES PARTNERS Ltd now owns 1,189,841 shares of the company's stock valued at $16,443,000 after purchasing an additional 215,324 shares in the last quarter. Citigroup Inc. raised its stake in Sendas Distribuidora by 42.1% in the third quarter. Citigroup Inc. now owns 24,219 shares of the company's stock valued at $295,000 after purchasing an additional 7,172 shares in the last quarter. HBK Sorce Advisory LLC raised its stake in Sendas Distribuidora by 16.1% in the fourth quarter. HBK Sorce Advisory LLC now owns 12,741 shares of the company's stock valued at $176,000 after purchasing an additional 1,769 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in Sendas Distribuidora by 36.4% in the third quarter. PNC Financial Services Group Inc. now owns 5,766 shares of the company's stock valued at $70,000 after purchasing an additional 1,539 shares in the last quarter. Finally, Sequoia Financial Advisors LLC acquired a new position in Sendas Distribuidora in the third quarter valued at about $138,000. Institutional investors and hedge funds own 8.76% of the company's stock.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. raised shares of Sendas Distribuidora from a "neutral" rating to an "overweight" rating and lifted their price objective for the stock from $15.00 to $17.00 in a research report on Tuesday, April 23rd.

Sendas Distribuidora Stock Performance

ASAI stock traded up $0.12 during midday trading on Wednesday, reaching $12.85. 80,430 shares of the company were exchanged, compared to its average volume of 320,098. The company has a debt-to-equity ratio of 4.10, a current ratio of 0.77 and a quick ratio of 0.39. The business has a 50-day moving average price of $14.07 and a two-hundred day moving average price of $13.48. Sendas Distribuidora has a one year low of $10.44 and a one year high of $15.25. The firm has a market capitalization of $3.47 billion, a price-to-earnings ratio of 24.25, a price-to-earnings-growth ratio of 0.64 and a beta of 1.12.

Sendas Distribuidora (NYSE:ASAI - Get Free Report) last posted its earnings results on Wednesday, February 21st. The company reported $0.22 earnings per share for the quarter, topping analysts' consensus estimates of $0.21 by $0.01. Sendas Distribuidora had a return on equity of 16.48% and a net margin of 1.07%. The company had revenue of $3.72 billion during the quarter, compared to the consensus estimate of $3.98 billion. Equities research analysts forecast that Sendas Distribuidora will post 0.63 EPS for the current year.

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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