Truist Financial Corp Cuts Position in PriceSmart, Inc. (NASDAQ:PSMT)

Truist Financial Corp cut its stake in PriceSmart, Inc. (NASDAQ:PSMT) by 6.1% during the second quarter, HoldingsChannel reports. The fund owned 4,360 shares of the company’s stock after selling 283 shares during the quarter. Truist Financial Corp’s holdings in PriceSmart were worth $354,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. GSA Capital Partners LLP increased its holdings in shares of PriceSmart by 201.5% in the 1st quarter. GSA Capital Partners LLP now owns 20,369 shares of the company’s stock valued at $1,711,000 after acquiring an additional 13,614 shares during the period. Jupiter Asset Management Ltd. purchased a new position in PriceSmart during the 1st quarter worth $2,673,000. Capstone Investment Advisors LLC grew its stake in PriceSmart by 249.0% during the 1st quarter. Capstone Investment Advisors LLC now owns 18,868 shares of the company’s stock worth $1,585,000 after buying an additional 13,461 shares during the last quarter. Simplicity Wealth LLC purchased a new position in PriceSmart during the 2nd quarter worth $1,202,000. Finally, LSV Asset Management grew its stake in PriceSmart by 938.5% during the 1st quarter. LSV Asset Management now owns 181,971 shares of the company’s stock worth $15,286,000 after buying an additional 164,449 shares during the last quarter. 80.46% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, StockNews.com upgraded PriceSmart from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 9th.

PriceSmart Stock Down 0.0 %

Shares of PSMT stock opened at $93.24 on Friday. PriceSmart, Inc. has a 1-year low of $61.82 and a 1-year high of $94.82. The stock’s fifty day moving average price is $88.47 and its 200 day moving average price is $84.87. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.20 and a quick ratio of 0.49. The company has a market cap of $2.86 billion, a price-to-earnings ratio of 22.63 and a beta of 0.84.

Insiders Place Their Bets

In other PriceSmart news, EVP Francisco Velasco sold 670 shares of PriceSmart stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $89.05, for a total transaction of $59,663.50. Following the completion of the sale, the executive vice president now owns 79,470 shares of the company’s stock, valued at approximately $7,076,803.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other PriceSmart news, CFO Michael Mccleary sold 4,000 shares of PriceSmart stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $87.51, for a total transaction of $350,040.00. Following the completion of the sale, the chief financial officer now owns 67,474 shares of the company’s stock, valued at approximately $5,904,649.74. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Francisco Velasco sold 670 shares of PriceSmart stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $89.05, for a total value of $59,663.50. Following the sale, the executive vice president now directly owns 79,470 shares of the company’s stock, valued at approximately $7,076,803.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,497 shares of company stock valued at $484,985. 18.60% of the stock is owned by company insiders.

About PriceSmart

PriceSmart, Inc owns and operates U.S.-style membership shopping warehouse clubs in the United States, Central America, the Caribbean, and Colombia. The company provides basic and private label consumer products under the Member's Selection brand, including groceries, cleaning supplies, health and beauty aids, meat, produce, deli, seafood, and poultry.