PriceSmart, Inc. (PSMT) Position Cut by Denver Investment Advisors LLC
Denver Investment Advisors LLC cut its stake in PriceSmart, Inc. (NASDAQ:PSMT) by 1.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,153 shares of the company’s stock after selling 100 shares during the period. Denver Investment Advisors LLC’s holdings in PriceSmart were worth $567,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. Creative Planning raised its position in PriceSmart by 166.1% in the first quarter. Creative Planning now owns 1,823 shares of the company’s stock valued at $168,000 after buying an additional 1,138 shares in the last quarter. Sei Investments Co. increased its position in PriceSmart by 20.4% in the third quarter. Sei Investments Co. now owns 2,225 shares of the company’s stock worth $186,000 after buying an additional 377 shares in the last quarter. Bayesian Capital Management LP acquired a new position in PriceSmart during the fourth quarter worth about $201,000. Karp Capital Management Corp purchased a new position in shares of PriceSmart during the first quarter worth $246,000. Finally, SG Americas Securities LLC purchased a new position in shares of PriceSmart during the third quarter worth $224,000. 71.61% of the stock is currently owned by institutional investors and hedge funds.
PriceSmart, Inc. (PSMT) traded down 3.79% during midday trading on Friday, reaching $85.00. 247,803 shares of the company’s stock were exchanged. The stock’s 50 day moving average is $88.36 and its 200 day moving average is $88.06. PriceSmart, Inc. has a 52 week low of $75.80 and a 52 week high of $94.86. The firm has a market capitalization of $2.55 billion, a P/E ratio of 28.39 and a beta of 1.23.
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Separately, Roth Capital set a $102.00 target price on shares of PriceSmart and gave the stock a “buy” rating in a research note on Thursday, May 18th.
In other PriceSmart news, Director Mitchell G. Lynn sold 3,000 shares of PriceSmart stock in a transaction that occurred on Wednesday, April 12th. The shares were sold at an average price of $86.53, for a total transaction of $259,590.00. Following the transaction, the director now directly owns 5,841 shares of the company’s stock, valued at $505,421.73. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Laura Santana sold 1,100 shares of PriceSmart stock in a transaction that occurred on Thursday, April 13th. The shares were sold at an average price of $86.77, for a total transaction of $95,447.00. Following the transaction, the executive vice president now directly owns 17,604 shares in the company, valued at $1,527,499.08. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 6,536 shares of company stock worth $565,093. 28.00% of the stock is currently owned by corporate insiders.
PriceSmart, Inc, through its subsidiaries, is engaged in the international operation of membership shopping in warehouse clubs. In addition, the Company operates distribution centers and offices in the United States. The Company’s segments include the United States, Central America, the Caribbean and Colombia.
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