E. Ohman J or Asset Management AB Grows Position in PriceSmart, Inc. $PSMT

E. Ohman J or Asset Management AB grew its holdings in PriceSmart, Inc. (NASDAQ:PSMT) by 18.9% in the second quarter, Holdings Channel.com reports. The institutional investor owned 156,929 shares of the company’s stock after buying an additional 24,939 shares during the quarter. E. Ohman J or Asset Management AB’s holdings in PriceSmart were worth $30,655,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of PSMT. Geneos Wealth Management Inc. boosted its position in PriceSmart by 560.0% during the first quarter. Geneos Wealth Management Inc. now owns 297 shares of the company’s stock worth $26,000 after acquiring an additional 252 shares during the last quarter. UMB Bank n.a. lifted its stake in PriceSmart by 76.0% in the 4th quarter. UMB Bank n.a. now owns 227 shares of the company’s stock worth $28,000 after purchasing an additional 98 shares in the last quarter. CENTRAL TRUST Co purchased a new position in PriceSmart in the 4th quarter worth approximately $32,000. Osaic Holdings Inc. boosted its holdings in shares of PriceSmart by 57.2% during the 2nd quarter. Osaic Holdings Inc. now owns 492 shares of the company’s stock worth $52,000 after purchasing an additional 179 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd grew its position in shares of PriceSmart by 45,600.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 457 shares of the company’s stock valued at $56,000 after purchasing an additional 456 shares in the last quarter. 80.46% of the stock is owned by hedge funds and other institutional investors.

PriceSmart Trading Down 4.7%

PSMT 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 one year low of $105.46 and a one 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 business’s 50 day moving average price is $186.12 and its 200 day moving average price is $165.25.

PriceSmart (NASDAQ:PSMT) last posted its earnings results on Wednesday, July 8th. The company reported $1.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.32 by ($0.04). PriceSmart had a return on equity of 12.16% and a net margin of 2.82%.The business had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.43 billion. During the same period last year, the business earned $1.14 EPS. PriceSmart’s revenue was up 12.5% compared to the same quarter last year.

Insider Transactions at PriceSmart

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

Wall Street Analyst Weigh In

Separately, Weiss Ratings downgraded PriceSmart from a “buy (b+)” rating to a “buy (b)” rating in a research report on Friday, May 29th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy”.

PriceSmart Profile

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.