E. Ohman J or Asset Management AB Boosts Holdings in PriceSmart, Inc. $PSMT

Key Points

• E. Ohman J or Asset Management AB increased its PriceSmart stake by 18.9% in the second quarter, bringing its holdings to 156,929 shares worth approximately $30.7 million. Institutional investors collectively own 80.46% of the company.
• PriceSmart’s latest quarterly revenue rose 12.5% year over year to $1.48 billion, exceeding expectations, while EPS of $1.28 fell short of the $1.32 consensus estimate.
• PriceSmart shares opened at $168.81, down 4.7%, after trading between $105.46 and $199.84 over the past year. Insiders sold 7,737 shares worth roughly $1.5 million in the last 90 days, while analysts maintain a consensus “Buy” rating.

E. Ohman J or Asset Management AB boosted its stake in shares of PriceSmart, Inc. (NASDAQ:PSMT - Free Report) by 18.9% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 156,929 shares of the company's stock after purchasing an additional 24,939 shares during the period. E. Ohman J or Asset Management AB owned approximately 0.51% of PriceSmart worth $30,655,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Advisors Asset Management Inc. boosted its stake in shares of PriceSmart by 124.2% in the first quarter. Advisors Asset Management Inc. now owns 668 shares of the company's stock worth $59,000 after buying an additional 370 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in PriceSmart by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,917 shares of the company's stock valued at $1,310,000 after acquiring an additional 648 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in PriceSmart by 41.7% in the first quarter. Goldman Sachs Group Inc. now owns 182,919 shares of the company's stock valued at $16,069,000 after acquiring an additional 53,874 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in PriceSmart by 12.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 70,642 shares of the company's stock valued at $6,206,000 after acquiring an additional 7,717 shares during the period. Finally, Intech Investment Management LLC boosted its position in PriceSmart by 34.7% in the 1st quarter. Intech Investment Management LLC now owns 18,673 shares of the company's stock worth $1,640,000 after purchasing an additional 4,806 shares in the last quarter. Hedge funds and other institutional investors own 80.46% of the company's stock.

Insider Buying and Selling at PriceSmart

In related news, Director Sherry S. Bahrambeygui sold 3,499 shares of PriceSmart stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $197.38, for a total value of $690,632.62. Following the sale, the director directly owned 32,150 shares in the company, valued at approximately $6,345,767. The trade was a 9.82% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Beatriz V. Infante sold 800 shares of PriceSmart stock in a transaction dated Monday, July 13th. The stock was sold at an average price of $195.98, for a total value of $156,784.00. Following the completion of the sale, the director owned 11,210 shares in the company, valued at approximately $2,196,935.80. The trade was a 6.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 7,737 shares of company stock valued at $1,499,649 over the last ninety days. Corporate insiders own 17.00% of the company's stock.

PriceSmart Stock Down 4.7%

PriceSmart stock opened at $168.81 on Tuesday. The stock has a market capitalization of $5.21 billion, a PE ratio of 32.40 and a beta of 0.76. PriceSmart, Inc. has a 12 month low of $105.46 and a 12 month high of $199.84. The business has a 50 day simple moving average of $186.12 and a 200-day simple moving average of $165.25. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.28 and a quick ratio of 0.53.

PriceSmart (NASDAQ:PSMT - Get Free Report) last announced its earnings results on Wednesday, July 8th. The company reported $1.28 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.32 by ($0.04). PriceSmart had a net margin of 2.82% and a return on equity of 12.16%. The business had revenue of $1.48 billion for the quarter, compared to analysts' expectations of $1.43 billion. During the same quarter last year, the business earned $1.14 EPS. The company's quarterly revenue was up 12.5% on a year-over-year basis.

Analysts Set New Price Targets

Separately, Weiss Ratings lowered shares of PriceSmart from a "buy (b+)" rating to a "buy (b)" rating in a report on Friday, May 29th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, PriceSmart has a consensus rating of "Buy".

About PriceSmart

PriceSmart, Inc NASDAQ: PSMT is a U.S.-based retailer specializing in membership warehouse clubs. Founded in 1993, the company operates under a business model that offers bulk quantities of goods at discounted prices to individuals and businesses that purchase annual memberships. PriceSmart's value proposition centers on low-cost operations, high-volume purchasing, and a no-frills shopping environment designed to pass savings directly to its members.

The company's product assortment covers a broad range of merchandise categories, including groceries and fresh produce, household essentials, electronics, appliances, office supplies, furniture, and health and beauty items.

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