PriceSmart, Inc. (PSMT) Shares Bought by Stone Ridge Asset Management LLC
Stone Ridge Asset Management LLC boosted its position in PriceSmart, Inc. (NASDAQ:PSMT) by 83.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,581 shares of the company’s stock after buying an additional 3,458 shares during the quarter. Stone Ridge Asset Management LLC’s holdings in PriceSmart were worth $614,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in the stock. Wesbanco Bank Inc. acquired a new position in PriceSmart in the second quarter valued at approximately $200,000. Atria Investments LLC acquired a new position in PriceSmart in the third quarter valued at approximately $208,000. Tower Research Capital LLC TRC acquired a new position in PriceSmart in the second quarter valued at approximately $236,000. Dynamic Technology Lab Private Ltd acquired a new position in PriceSmart in the second quarter valued at approximately $350,000. Finally, Nisa Investment Advisors LLC boosted its stake in PriceSmart by 4,000.0% in the second quarter. Nisa Investment Advisors LLC now owns 4,100 shares of the company’s stock valued at $371,000 after acquiring an additional 4,000 shares during the period. 78.42% of the stock is owned by hedge funds and other institutional investors.
PSMT has been the subject of a number of research reports. BidaskClub downgraded PriceSmart from a “strong-buy” rating to a “buy” rating in a research note on Thursday, September 27th. TheStreet downgraded PriceSmart from a “b-” rating to a “c+” rating in a research note on Thursday, August 2nd. ValuEngine upgraded PriceSmart from a “sell” rating to a “hold” rating in a research note on Thursday, July 26th. Finally, Zacks Investment Research upgraded PriceSmart from a “strong sell” rating to a “hold” rating in a research note on Monday, September 10th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $90.50.
In other news, Director Robert E. Price sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, September 17th. The stock was sold at an average price of $85.50, for a total transaction of $855,000.00. Following the completion of the transaction, the director now directly owns 80 shares in the company, valued at $6,840. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Jose Luis Laparte sold 22,058 shares of the business’s stock in a transaction that occurred on Thursday, November 8th. The stock was sold at an average price of $69.19, for a total value of $1,526,193.02. Following the transaction, the chief executive officer now owns 187,054 shares of the company’s stock, valued at $12,942,266.26. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 98,053 shares of company stock valued at $7,176,208. Insiders own 28.00% of the company’s stock.
PriceSmart, Inc owns and operates the U.S.-style membership shopping warehouse clubs in Latin America and the Caribbean. The company's warehouse clubs offer brand name and private label consumer goods to individuals and businesses. As of May 7, 2017, it operated 41 warehouse clubs comprising 7 each in Colombia and Costa Rica; 5 in Panama; 4 each in Trinidad and Dominican Republic; 3 each in Guatemala and Honduras; 2 each in El Salvador and Nicaragua; and 1 each in Aruba, Barbados, Jamaica, and the United States Virgin Islands.
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