E. Ohman J or Asset Management AB Sells 3,938 Shares of PriceSmart, Inc. $PSMT

Key Points

• E. Ohman J or Asset Management AB reduced its stake in PriceSmart, Inc. by 15.1% during the second quarter, now holding 22,106 shares valued at approximately $2.32 million.
• PriceSmart's quarterly earnings report showed a net revenue increase of 7.1% year-over-year, totaling $1.32 billion, although it missed EPS estimates by $0.02.
• Wall Street Zen upgraded PriceSmart's rating from "hold" to "buy", indicating a positive outlook for the stock moving forward.

E. Ohman J or Asset Management AB lowered its position in PriceSmart, Inc. (NASDAQ:PSMT - Free Report) by 15.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 22,106 shares of the company's stock after selling 3,938 shares during the period. E. Ohman J or Asset Management AB owned 0.07% of PriceSmart worth $2,322,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. grew its holdings in PriceSmart by 560.0% during the first quarter. Geneos Wealth Management Inc. now owns 297 shares of the company's stock valued at $26,000 after purchasing an additional 252 shares during the last quarter. Ridgewood Investments LLC acquired a new position in PriceSmart during the first quarter valued at approximately $42,000. Quarry LP acquired a new position in PriceSmart during the first quarter valued at approximately $49,000. Heck Capital Advisors LLC acquired a new position in PriceSmart during the fourth quarter valued at approximately $53,000. Finally, Fifth Third Bancorp grew its holdings in PriceSmart by 119.7% during the first quarter. Fifth Third Bancorp now owns 635 shares of the company's stock valued at $56,000 after purchasing an additional 346 shares during the last quarter. Institutional investors and hedge funds own 80.46% of the company's stock.

PriceSmart Stock Performance

PSMT stock traded down $1.98 during midday trading on Friday, hitting $115.44. The stock had a trading volume of 470,756 shares, compared to its average volume of 207,047. The firm has a market capitalization of $3.55 billion, a price-to-earnings ratio of 24.35 and a beta of 0.79. PriceSmart, Inc. has a 52 week low of $81.25 and a 52 week high of $120.99. The stock has a 50-day simple moving average of $110.21 and a 200 day simple moving average of $102.13. The company has a current ratio of 1.28, a quick ratio of 0.50 and a debt-to-equity ratio of 0.07.

PriceSmart (NASDAQ:PSMT - Get Free Report) last issued its earnings results on Thursday, July 10th. The company reported $1.14 EPS for the quarter, missing the consensus estimate of $1.16 by ($0.02). The firm had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.31 billion. PriceSmart had a return on equity of 12.46% and a net margin of 2.82%.The firm's revenue for the quarter was up 7.1% compared to the same quarter last year. During the same period last year, the business earned $1.08 earnings per share. As a group, equities research analysts anticipate that PriceSmart, Inc. will post 5.28 earnings per share for the current year.

Insiders Place Their Bets

In other PriceSmart news, EVP Michael Mccleary sold 9,754 shares of PriceSmart stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of $110.62, for a total transaction of $1,078,987.48. Following the completion of the transaction, the executive vice president directly owned 47,082 shares of the company's stock, valued at approximately $5,208,210.84. This trade represents a 17.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Francisco Velasco sold 550 shares of PriceSmart stock in a transaction on Monday, July 7th. The shares were sold at an average price of $106.31, for a total value of $58,470.50. Following the transaction, the executive vice president directly owned 77,908 shares of the company's stock, valued at approximately $8,282,399.48. The trade was a 0.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. 17.10% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Separately, Wall Street Zen raised PriceSmart from a "hold" rating to a "buy" rating in a research report on Friday, September 5th.

About PriceSmart

PriceSmart, Inc owns and operates U.S.-style membership shopping warehouse clubs in the United States, Central America, the Caribbean, and Colombia. The company provides basic and private label consumer products under the Member's Selection brand, including groceries, cleaning supplies, health and beauty aids, meat, produce, deli, seafood, and poultry.