PriceSmart, Inc. $PSMT Stock: Vontobel Holding Ltd. Cuts Holdings

Vontobel Holding Ltd. cut its position in shares of PriceSmart, Inc. (NASDAQ:PSMT – Free Report) by 28.5% in the third quarter, Holdings Channel.com reports. The institutional investor owned 60,113 shares of the company’s stock after selling 23,965 shares during the period. Vontobel Holding Ltd.’s holdings in PriceSmart were worth $10,166,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in shares of PriceSmart in the second quarter worth $814,722,000. William Blair Investment Management LLC purchased a new position in shares of PriceSmart during the second quarter valued at $53,157,000. Bank of New York Mellon Corp acquired a new position in PriceSmart during the second quarter valued at $40,930,000. Punch & Associates Investment Management Inc. acquired a new position in PriceSmart during the second quarter valued at $33,471,000. Finally, Bank of America Corp DE acquired a new position in PriceSmart during the second quarter valued at $30,962,000. 80.46% of the stock is owned by hedge funds and other institutional investors.

PriceSmart Stock Up 0.1%

PriceSmart stock opened at $169.81 on Friday. The firm has a market cap of $5.24 billion, a PE ratio of 32.59 and a beta of 0.73. 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 firm’s 50 day moving average price is $171.97 and its two-hundred day moving average price is $173.00. PriceSmart, Inc. has a twelve month low of $111.68 and a twelve month high of $199.84.

Insiders Place Their Bets

In other news, Director Sherry S. Bahrambeygui sold 3,499 shares of the company’s stock in a transaction on 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 directly owned 32,150 shares of the company’s stock, valued at approximately $6,345,767. This represents a 9.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Francisco Velasco sold 338 shares of the company’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $177.87, for a total transaction of $60,120.06. Following the completion of the transaction, the executive vice president directly owned 75,321 shares in the company, valued at $13,397,346.27. This trade represents a 0.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 6,937 shares of company stock valued at $1,349,392 in the last three months. Company insiders own 17.00% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on PSMT shares. Weiss Ratings reissued a “buy (b)” rating on shares of PriceSmart in a research note on Wednesday, August 26th. Jefferies Financial Group reaffirmed a “buy” rating and set a $198.00 target price on shares of PriceSmart in a research note on Wednesday, August 12th. Two analysts have rated the stock with a Buy rating. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $198.00.

Get Our Latest Analysis on PriceSmart

PriceSmart Profile

(Free Report)

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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Want to see what other hedge funds are holding PSMT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PriceSmart, Inc. (NASDAQ:PSMT – Free Report).