E. Ohman J or Asset Management AB Sells 19,027 Shares of PriceSmart, Inc. $PSMT

Key Points

• E. Ohman J or Asset Management AB reduced its PriceSmart stake by 12.1%, selling 19,027 shares and retaining 137,902 shares valued at approximately $23.3 million.
• Institutional investors hold 80.46% of PriceSmart, with several major funds—including BlackRock and William Blair Investment Management—establishing new positions.
• Analysts maintain a positive outlook, with PriceSmart rated “Buy” and an average price target of $198, compared with a share price of $171.59.

E. Ohman J or Asset Management AB decreased its holdings in shares of PriceSmart, Inc. (NASDAQ:PSMT - Free Report) by 12.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 137,902 shares of the company's stock after selling 19,027 shares during the quarter. E. Ohman J or Asset Management AB owned approximately 0.45% of PriceSmart worth $23,321,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of PSMT. BlackRock Inc. bought a new stake in PriceSmart in the second quarter worth $814,722,000. William Blair Investment Management LLC acquired a new position in PriceSmart during the second quarter worth $53,157,000. Progeny 3 Inc. increased its position in PriceSmart by 18.5% during the first quarter. Progeny 3 Inc. now owns 272,100 shares of the company's stock worth $40,951,000 after buying an additional 42,500 shares during the last quarter. Bank of New York Mellon Corp bought a new position in PriceSmart during the second quarter valued at about $40,930,000. Finally, Punch & Associates Investment Management Inc. bought a new position in PriceSmart during the second quarter valued at about $33,471,000. Institutional investors own 80.46% of the company's stock.

Insider Buying and Selling at PriceSmart

In other PriceSmart news, Director Sherry Bahrambeygui sold 3,499 shares of the business's stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $197.38, for a total transaction of $690,632.62. Following the completion of the transaction, the director owned 32,150 shares of the company's stock, valued at $6,345,767. The trade was a 9.82% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Francisco Velasco sold 338 shares of the company's stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $177.87, for a total transaction of $60,120.06. Following the sale, the executive vice president owned 75,321 shares of the company's stock, valued at $13,397,346.27. This trade represents a 0.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 6,937 shares of company stock worth $1,349,392 in the last quarter. Insiders own 17.00% of the company's stock.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Jefferies Financial Group reiterated a "buy" rating and set a $198.00 price target on shares of PriceSmart in a research note on Wednesday, August 12th. Weiss Ratings reissued a "buy (b)" rating on shares of PriceSmart in a research note on Wednesday, August 26th. Two investment analysts have rated the stock with a Buy rating. According to data from MarketBeat.com, PriceSmart has an average rating of "Buy" and an average price target of $198.00.

PriceSmart Price Performance

NASDAQ PSMT opened at $171.59 on Friday. The company has a current ratio of 1.28, a quick ratio of 0.53 and a debt-to-equity ratio of 0.08. The company has a fifty day simple moving average of $171.72 and a 200 day simple moving average of $173.74. The company has a market cap of $5.30 billion, a P/E ratio of 32.92 and a beta of 0.73. PriceSmart, Inc. has a 1 year low of $111.68 and a 1 year high of $199.84.

About PriceSmart

PriceSmart, Inc operates membership warehouse clubs serving consumers and businesses in Latin America and the Caribbean. The company offers a broad selection of products at value-oriented prices, including groceries, fresh foods, beverages, household supplies, apparel, appliances, electronics, furniture and other general merchandise.

Through its warehouse clubs and digital commerce platforms, PriceSmart provides shopping and delivery options designed for both individual members and small businesses.

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