State of Alaska Department of Revenue Sells 3,794 Shares of PriceSmart, Inc. $PSMT

State of Alaska Department of Revenue decreased its stake in PriceSmart, Inc. (NASDAQ:PSMT) by 39.7% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 5,757 shares of the company’s stock after selling 3,794 shares during the period. State of Alaska Department of Revenue’s holdings in PriceSmart were worth $973,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Coppell Advisory Solutions LLC bought a new position in shares of PriceSmart during the second quarter worth about $27,000. Bell Investment Advisors Inc acquired a new position in shares of PriceSmart in the second quarter worth approximately $40,000. Caitong International Asset Management Co. Ltd lifted its stake 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 worth $56,000 after acquiring an additional 456 shares during the period. Northwestern Mutual Wealth Management Co. acquired a new position in shares of PriceSmart in the second quarter worth approximately $67,000. Finally, Fortitude Family Office LLC boosted its holdings in PriceSmart by 1,592.9% in the third quarter. Fortitude Family Office LLC now owns 474 shares of the company’s stock valued at $80,000 after acquiring an additional 446 shares during the last quarter. Institutional investors and hedge funds own 80.46% of the company’s stock.

PriceSmart Stock Down 1.0%

PriceSmart stock opened at $171.53 on Thursday. The company has a quick ratio of 0.53, a current ratio of 1.28 and a debt-to-equity ratio of 0.08. PriceSmart, Inc. has a 12-month low of $111.68 and a 12-month high of $199.84. The firm’s fifty day moving average is $171.89 and its 200 day moving average is $173.60. The company has a market capitalization of $5.29 billion, a PE ratio of 32.92 and a beta of 0.73.

Insider Transactions at PriceSmart

In related news, EVP Francisco Velasco sold 338 shares of the business’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $177.87, for a total value of $60,120.06. Following the completion of the sale, the executive vice president directly owned 75,321 shares of the company’s stock, valued at $13,397,346.27. The trade was a 0.45% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Sherry Bahrambeygui sold 3,499 shares of the company’s stock in a transaction that occurred on Monday, August 3rd. The stock was 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 in the company, valued at approximately $6,345,767. This trade represents a 9.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 6,937 shares of company stock valued at $1,349,392 over the last ninety days. 17.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have weighed in on PSMT. Jefferies Financial Group reissued a “buy” rating and set a $198.00 target price on shares of PriceSmart in a research report on Wednesday, August 12th. Weiss Ratings restated a “buy (b)” rating on shares of PriceSmart in a research report on Wednesday, August 26th. Two analysts have rated the stock with a Buy rating. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $198.00.

About PriceSmart

PriceSmart, Inc operates membership warehouse clubs serving consumers and businesses in Latin America and the Caribbean. The company offers a broad selection of products at value-oriented prices, including groceries, fresh foods, beverages, household supplies, apparel, appliances, electronics, furniture and other general merchandise.

Through its warehouse clubs and digital commerce platforms, PriceSmart provides shopping and delivery options designed for both individual members and small businesses.