E. Ohman J or Asset Management AB Has $19.86 Million Stock Holdings in PriceSmart, Inc. $PSMT

E. Ohman J or Asset Management AB boosted its position in PriceSmart, Inc. (NASDAQ:PSMT) by 539.9% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 131,990 shares of the company’s stock after acquiring an additional 111,362 shares during the quarter. E. Ohman J or Asset Management AB’s holdings in PriceSmart were worth $19,864,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Advisors Asset Management Inc. increased its position in PriceSmart by 124.2% during the first quarter. Advisors Asset Management Inc. now owns 668 shares of the company’s stock worth $59,000 after acquiring an additional 370 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of PriceSmart by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,917 shares of the company’s stock valued at $1,310,000 after buying an additional 648 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of PriceSmart by 41.7% in the first quarter. Goldman Sachs Group Inc. now owns 182,919 shares of the company’s stock valued at $16,069,000 after buying an additional 53,874 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of PriceSmart by 12.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 70,642 shares of the company’s stock valued at $6,206,000 after buying an additional 7,717 shares during the period. Finally, Intech Investment Management LLC grew its position in PriceSmart by 34.7% during the first quarter. Intech Investment Management LLC now owns 18,673 shares of the company’s stock worth $1,640,000 after buying an additional 4,806 shares in the last quarter. Institutional investors and hedge funds own 80.46% of the company’s stock.

Analysts Set New Price Targets

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

PriceSmart Price Performance

NASDAQ:PSMT opened at $182.02 on Friday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.52 and a current ratio of 1.29. The company has a 50-day moving average of $165.32 and a 200-day moving average of $149.68. PriceSmart, Inc. has a 52 week low of $99.98 and a 52 week high of $183.19. The company has a market capitalization of $5.62 billion, a price-to-earnings ratio of 35.90 and a beta of 0.78.

PriceSmart (NASDAQ:PSMT) last released its quarterly earnings data on Wednesday, April 8th. The company reported $1.62 earnings per share for the quarter, beating analysts’ consensus estimates of $1.57 by $0.05. PriceSmart had a return on equity of 12.23% and a net margin of 2.82%.The company had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.48 billion. During the same period in the previous year, the business earned $1.45 earnings per share. The company’s quarterly revenue was up 9.7% on a year-over-year basis.

Insider Activity at PriceSmart

In other PriceSmart news, Director Gordon H. Hanson sold 635 shares of the company’s stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $157.60, for a total value of $100,076.00. Following the sale, the director directly owned 8,149 shares in the company, valued at $1,284,282.40. This represents a 7.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Edgar Zurcher sold 2,259 shares of the stock in a transaction on Monday, May 4th. The stock was sold at an average price of $155.17, for a total value of $350,529.03. Following the transaction, the director owned 8,151 shares of the company’s stock, valued at $1,264,790.67. This represents a 21.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 3,232 shares of company stock valued at $504,198 in the last 90 days. 17.00% of the stock is owned by corporate insiders.

PriceSmart Company 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.