PriceSmart, Inc. $PSMT Shares Sold by Vontobel Holding Ltd.

Key Points

• Vontobel Holding reduced its PriceSmart stake by 28.5%, selling 23,965 shares and retaining 60,113 shares valued at approximately $10.2 million. Institutional investors and hedge funds collectively own 80.46% of the company.
• PriceSmart insiders sold 6,937 shares worth about $1.35 million over the past 90 days, including sales by Director Sherry Bahrambeygui and EVP Francisco Velasco.
• Analysts remain bullish, with a consensus “Buy” rating and a $198 target price. PSMT opened at $169.81, compared with a 52-week range of $111.68 to $199.84.

Vontobel Holding Ltd. cut its position in shares of PriceSmart, Inc. (NASDAQ:PSMT - Free Report) by 28.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 60,113 shares of the company's stock after selling 23,965 shares during the quarter. Vontobel Holding Ltd. owned 0.19% of PriceSmart worth $10,166,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of PSMT. BlackRock Inc. acquired a new stake in shares of PriceSmart in the second quarter valued at $814,722,000. William Blair Investment Management LLC bought a new position in PriceSmart during the second quarter valued at about $53,157,000. Progeny 3 Inc. boosted its stake in PriceSmart by 18.5% during the first quarter. Progeny 3 Inc. now owns 272,100 shares of the company's stock valued at $40,951,000 after buying an additional 42,500 shares in 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. acquired a new position in PriceSmart during the second quarter worth about $33,471,000. 80.46% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at PriceSmart

In other news, Director Sherry Bahrambeygui sold 3,499 shares of the stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $197.38, for a total transaction of $690,632.62. Following the completion of the sale, the director owned 32,150 shares in the company, valued at approximately $6,345,767. This represents a 9.82% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Francisco Velasco sold 338 shares of the firm's stock in a transaction on Monday, August 17th. The stock was sold at an average price of $177.87, for a total value of $60,120.06. Following the sale, the executive vice president directly owned 75,321 shares of the company's stock, valued at approximately $13,397,346.27. This represents a 0.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 6,937 shares of company stock worth $1,349,392 in the last ninety days. 17.00% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on PSMT shares. Jefferies Financial Group reaffirmed a "buy" rating and set a $198.00 target price on shares of PriceSmart in a report on Wednesday, August 12th. Weiss Ratings reissued a "buy (b)" rating on shares of PriceSmart in a report on Wednesday, August 26th. Two investment analysts have rated the stock with a Buy rating. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $198.00.

PriceSmart Trading Up 0.1%

Shares of NASDAQ:PSMT opened at $169.81 on Friday. The stock has a market capitalization of $5.24 billion, a price-to-earnings ratio of 32.59 and a beta of 0.73. PriceSmart, Inc. has a 1-year low of $111.68 and a 1-year high of $199.84. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.53 and a current ratio of 1.28. The company has a 50 day moving average price of $171.97 and a 200 day moving average price of $173.00.

About PriceSmart

PriceSmart, Inc operates membership-based warehouse clubs serving consumers and businesses in markets across Central America, the Caribbean and Colombia. The company is headquartered in San Diego, California, and its shares trade on the Nasdaq under the symbol PSMT.

Its warehouse clubs offer a broad selection of products, including groceries, fresh foods, household supplies, health and beauty items, appliances, electronics, furniture, apparel and other general merchandise. PriceSmart also provides members with access to services such as optical offerings, pharmacies and selected ancillary services, depending on the market.

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