Calamos Advisors LLC Acquires Shares of 27,675 PriceSmart, Inc. $PSMT

Key Points

• Calamos Advisors LLC opened a new position in PriceSmart, buying 27,675 shares worth about $4.17 million in the first quarter, according to its SEC filing.
• PriceSmart’s latest quarter showed a revenue beat but an earnings miss: revenue rose 12.5% year over year to $1.48 billion, while EPS came in at $1.28 versus the $1.32 estimate.
• The stock has been strong recently, trading near its 52-week high at $188.58, while institutional ownership remains high at 80.46% and insiders have been selling shares in recent months.

Calamos Advisors LLC bought a new position in shares of PriceSmart, Inc. (NASDAQ:PSMT - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund bought 27,675 shares of the company's stock, valued at approximately $4,165,000. Calamos Advisors LLC owned about 0.09% of PriceSmart as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. Progeny 3 Inc. purchased a new position in shares of PriceSmart in the third quarter worth about $27,825,000. Invesco Ltd. increased its holdings in shares of PriceSmart by 54.7% in the second quarter. Invesco Ltd. now owns 551,566 shares of the company's stock valued at $57,936,000 after purchasing an additional 194,980 shares during the last quarter. Fisher Asset Management LLC increased its holdings in shares of PriceSmart by 821.3% in the fourth quarter. Fisher Asset Management LLC now owns 217,000 shares of the company's stock valued at $26,619,000 after purchasing an additional 193,446 shares during the last quarter. Millennium Management LLC lifted its position in PriceSmart by 5,150.6% during the third quarter. Millennium Management LLC now owns 114,936 shares of the company's stock worth $13,929,000 after buying an additional 112,747 shares in the last quarter. Finally, E. Ohman J or Asset Management AB lifted its position in PriceSmart by 539.9% during the first quarter. E. Ohman J or Asset Management AB now owns 131,990 shares of the company's stock worth $19,864,000 after buying an additional 111,362 shares in the last quarter. Hedge funds and other institutional investors own 80.46% of the company's stock.

PriceSmart Price Performance

Shares of PSMT stock opened at $188.58 on Thursday. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.28 and a quick ratio of 0.53. The company has a market capitalization of $5.82 billion, a PE ratio of 36.20 and a beta of 0.76. The firm's 50-day moving average is $177.70 and its two-hundred day moving average is $158.26. PriceSmart, Inc. has a 12 month low of $104.11 and a 12 month high of $199.84.

PriceSmart (NASDAQ:PSMT - Get Free Report) last posted its quarterly earnings results on Wednesday, July 8th. The company reported $1.28 earnings per share for the quarter, missing the consensus estimate of $1.32 by ($0.04). The firm had revenue of $1.48 billion during the quarter, compared to analysts' expectations of $1.43 billion. PriceSmart had a net margin of 2.82% and a return on equity of 12.16%. The business's quarterly revenue was up 12.5% on a year-over-year basis. During the same period last year, the company earned $1.14 EPS.

Insiders Place Their Bets

In related news, Director Edgar Zurcher sold 2,259 shares of the stock in a transaction that occurred 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 completion of the transaction, the director directly owned 8,151 shares in the company, valued at approximately $1,264,790.67. This represents a 21.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Francisco Velasco sold 338 shares of the company's stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $158.56, for a total transaction of $53,593.28. Following the completion of the transaction, the executive vice president directly owned 75,659 shares in the company, valued at $11,996,491.04. The trade was a 0.44% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 4,032 shares of company stock valued at $660,982. Insiders own 17.00% of the company's stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings cut PriceSmart from a "buy (b+)" rating to a "buy (b)" rating in a report on Friday, May 29th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, PriceSmart currently has an average rating of "Buy".

About PriceSmart

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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