Ambev (NYSE:ABEV) Shares Gap Down – Time to Sell?

Ambev S.A. (NYSE:ABEV) gapped down before the market opened on Friday . The stock had previously closed at $2.15, but opened at $2.07. Ambev shares last traded at $2.10, with a volume of 5,201,347 shares trading hands.

Analyst Ratings Changes

Separately, StockNews.com began coverage on Ambev in a research report on Friday, October 18th. They set a “buy” rating on the stock. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $2.70.

Ambev Trading Down 0.9 %

The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.89 and a current ratio of 1.20. The stock’s 50-day simple moving average is $2.28 and its 200-day simple moving average is $2.24. The firm has a market capitalization of $33.56 billion, a PE ratio of 11.94, a P/E/G ratio of 6.69 and a beta of 1.06.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in ABEV. Assenagon Asset Management S.A. grew its stake in shares of Ambev by 311.9% in the second quarter. Assenagon Asset Management S.A. now owns 768,419 shares of the company’s stock worth $1,575,000 after acquiring an additional 581,880 shares during the last quarter. Raymond James & Associates raised its holdings in Ambev by 154.0% in the 2nd quarter. Raymond James & Associates now owns 1,805,328 shares of the company’s stock worth $3,701,000 after purchasing an additional 1,094,629 shares during the period. GSG Advisors LLC lifted its position in shares of Ambev by 732.4% during the 2nd quarter. GSG Advisors LLC now owns 497,718 shares of the company’s stock valued at $1,015,000 after buying an additional 437,922 shares in the last quarter. Seafarer Capital Partners LLC lifted its holdings in Ambev by 6.3% during the third quarter. Seafarer Capital Partners LLC now owns 30,069,000 shares of the company’s stock valued at $73,368,000 after purchasing an additional 1,770,000 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. lifted its stake in shares of Ambev by 32.0% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 1,067,893 shares of the company’s stock valued at $2,606,000 after buying an additional 258,875 shares in the last quarter. Institutional investors own 8.13% of the company’s stock.

About Ambev

Ambev SA, through its subsidiaries, engages in the production, distribution, and sale of beer, draft beer, carbonated soft drinks, malt and food, other alcoholic beverages, and non-alcoholic and non-carbonated products in Brazil, Central America and Caribbean, Latin America South, and Canada. It offers beer primarily under the Skol, Brahma, Antarctica, Brahva, Budweiser, Bud Light, Beck, Leffe, Hoegaarden, Balboa ICE, Balboa, Atlas Golden Light, Atlas, Bucanero, Cristal, Mayabe, Presidente, Presidente Light, Brahma Light, Bohemia, The One, Corona, Modelo Especial, Stella Artois, Quilmes Clásica, Paceña, Taquiña, Huari, Becker, Cusqueña, Michelob Ultra, Busch, Pilsen, Ouro Fino, Bud 66, Banks, Deputy, Patricia, Labatt Blue, Alexander Keith’s, and Kokanee brands.