Algert Global LLC increased its holdings in shares of PriceSmart, Inc. (NASDAQ:PSMT - Free Report) by 41.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 52,027 shares of the company's stock after purchasing an additional 15,180 shares during the period. Algert Global LLC owned approximately 0.17% of PriceSmart worth $10,163,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. California State Teachers Retirement System grew its stake in shares of PriceSmart by 22.7% in the 1st quarter. California State Teachers Retirement System now owns 30,720 shares of the company's stock valued at $4,623,000 after buying an additional 5,680 shares during the period. Calamos Advisors LLC acquired a new position in PriceSmart during the 1st quarter worth approximately $4,165,000. Comerica Bank raised its stake in PriceSmart by 77.2% during the 4th quarter. Comerica Bank now owns 33,224 shares of the company's stock worth $4,076,000 after buying an additional 14,475 shares during the period. Aubrey Capital Management Ltd bought a new position in PriceSmart in the first quarter worth approximately $2,002,000. Finally, E. Ohman J or Asset Management AB boosted its holdings in PriceSmart by 18.9% in the second quarter. E. Ohman J or Asset Management AB now owns 156,929 shares of the company's stock worth $30,655,000 after acquiring an additional 24,939 shares in the last quarter. 80.46% of the stock is currently owned by institutional investors.
PriceSmart Trading Up 1.3%
NASDAQ:PSMT opened at $177.21 on Wednesday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.53 and a current ratio of 1.28. The firm has a market cap of $5.47 billion, a price-to-earnings ratio of 34.01 and a beta of 0.76. PriceSmart, Inc. has a 52 week low of $105.46 and a 52 week high of $199.84. The firm has a 50-day moving average price of $186.12 and a two-hundred day moving average price of $167.76.
PriceSmart (NASDAQ:PSMT - Get Free Report) last posted its earnings results on Wednesday, July 8th. The company reported $1.28 EPS for the quarter, missing the consensus estimate of $1.32 by ($0.04). The firm had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.43 billion. PriceSmart had a return on equity of 12.16% and a net margin of 2.82%.PriceSmart's quarterly revenue was up 12.5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.14 EPS.
Wall Street Analyst Weigh In
A number of equities analysts have recently weighed in on the company. Jefferies Financial Group reaffirmed a "buy" rating and set a $198.00 target price on shares of PriceSmart in a research report on Wednesday, August 12th. Weiss Ratings downgraded shares of PriceSmart from a "buy (b+)" rating to a "buy (b)" rating in a research report on Friday, May 29th. Two research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $198.00.
View Our Latest Report on PriceSmart
Insiders Place Their Bets
In other news, Director Beatriz V. Infante sold 800 shares of PriceSmart stock in a transaction on Monday, July 13th. The stock was sold at an average price of $195.98, for a total transaction of $156,784.00. Following the sale, the director directly owned 11,210 shares in the company, valued at $2,196,935.80. The trade was a 6.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 transaction of $60,120.06. Following the completion of the transaction, the executive vice president directly owned 75,321 shares in the company, valued at $13,397,346.27. This trade represents a 0.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 7,737 shares of company stock valued at $1,506,176. Insiders own 17.00% of the company's stock.
About PriceSmart
(
Free Report)
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.
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