Private Management Group Inc. Sells 220,005 Shares of Ambev S.A. $ABEV

Private Management Group Inc. decreased its position in Ambev S.A. (NYSE:ABEV) by 2.0% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,623,972 shares of the company’s stock after selling 220,005 shares during the period. Private Management Group Inc.’s holdings in Ambev were worth $31,022,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Envestnet Portfolio Solutions Inc. acquired a new position in shares of Ambev in the second quarter worth about $32,000. World Investment Advisors acquired a new stake in shares of Ambev during the 1st quarter valued at about $32,000. Equitable Trust Co. acquired a new stake in shares of Ambev during the 1st quarter valued at about $34,000. Global Wealth Strategies & Associates purchased a new position in shares of Ambev in the 2nd quarter valued at about $37,000. Finally, Nolet Wealth Management LLC purchased a new position in shares of Ambev in the 2nd quarter valued at about $42,000. Institutional investors and hedge funds own 8.13% of the company’s stock.

Insiders Place Their Bets

In related news, insider Carla Smith De Vasconcellos Crippa Prado sold 60,757 shares of the firm’s stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $3.09, for a total value of $187,739.13. Following the transaction, the insider directly owned 80,707 shares of the company’s stock, valued at approximately $249,384.63. This trade represents a 42.95% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Analyst Ratings Changes

A number of equities analysts recently weighed in on ABEV shares. Bank of America cut Ambev from a “neutral” rating to an “underperform” rating and set a $3.30 price target for the company. in a report on Wednesday, October 7th. UBS Group set a $2.85 price objective on Ambev in a report on Tuesday, August 11th. Scotiabank lowered Ambev from a “sector outperform” rating to a “sector perform” rating in a report on Wednesday, July 15th. Weiss Ratings cut Ambev from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, October 26th. Finally, Barclays reduced their target price on Ambev from $3.50 to $3.00 and set an “equal weight” rating for the company in a research note on Friday, October 30th. Four analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average price target of $3.01.

Ambev Stock Performance

ABEV opened at $2.78 on Tuesday. The company has a quick ratio of 0.81, a current ratio of 1.06 and a debt-to-equity ratio of 0.02. The company has a market cap of $43.80 billion, a price-to-earnings ratio of 14.53 and a beta of 0.58. Ambev S.A. has a 52-week low of $2.28 and a 52-week high of $3.45. The firm’s fifty day simple moving average is $3.01 and its two-hundred day simple moving average is $3.03.

Ambev (NYSE:ABEV) last announced its earnings results on Thursday, October 29th. The company reported $0.05 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.05. The business had revenue of $4.17 billion for the quarter, compared to analyst estimates of $4.21 billion. Ambev had a net margin of 17.80% and a return on equity of 18.13%. Equities analysts anticipate that Ambev S.A. will post 0.21 earnings per share for the current fiscal year.

Ambev Company Profile

Ambev SA is a beverage company headquartered in São Paulo, Brazil. It produces, distributes and sells beer and other beverages, including soft drinks, water and energy drinks. Its beer portfolio includes brands such as Brahma, Antarctica and Skol, as well as international brands marketed under license or through distribution agreements.

The company serves customers across Brazil and other markets in Latin America, including countries in South America, Central America and the Caribbean.