Cinctive Capital Management LP Makes New Investment in PriceSmart, Inc. $PSMT

Key Points

• Cinctive Capital Management LP acquired 94,486 shares of PriceSmart, Inc., valued at approximately $8.3 million, increasing its stake to 0.31% by the end of the last quarter.
• After missing the earnings per share estimate for the most recent quarter, PriceSmart reported a revenue of $1.32 billion, exceeding expectations with a year-over-year growth of 7.1%.
• Wall Street Zen downgraded PriceSmart from a "buy" rating to a "hold" in a recent research note, reflecting changes in analyst sentiment towards the stock.

Cinctive Capital Management LP purchased a new position in PriceSmart, Inc. (NASDAQ:PSMT - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm purchased 94,486 shares of the company's stock, valued at approximately $8,301,000. Cinctive Capital Management LP owned about 0.31% of PriceSmart as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. AQR Capital Management LLC boosted its stake in PriceSmart by 10.4% during the 1st quarter. AQR Capital Management LLC now owns 68,610 shares of the company's stock worth $6,027,000 after acquiring an additional 6,486 shares during the last quarter. Advisors Asset Management Inc. increased its position in shares of PriceSmart by 124.2% during the first quarter. Advisors Asset Management Inc. now owns 668 shares of the company's stock worth $59,000 after acquiring an additional 370 shares in the last quarter. Dark Forest Capital Management LP boosted its position in PriceSmart by 665.0% during the first quarter. Dark Forest Capital Management LP now owns 38,711 shares of the company's stock valued at $3,401,000 after purchasing an additional 33,651 shares during the last quarter. Quarry LP bought a new stake in PriceSmart during the first quarter worth $49,000. Finally, Nomura Holdings Inc. bought a new position in shares of PriceSmart in the 1st quarter valued at about $450,000. 80.46% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other PriceSmart news, EVP Francisco Velasco sold 550 shares of PriceSmart stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $106.31, for a total value of $58,470.50. Following the transaction, the executive vice president owned 77,908 shares in the company, valued at $8,282,399.48. The trade was a 0.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 17.10% of the stock is owned by company insiders.

PriceSmart Stock Performance

NASDAQ PSMT traded down $1.19 during trading on Tuesday, reaching $110.80. The company's stock had a trading volume of 77,415 shares, compared to its average volume of 232,154. The firm has a market capitalization of $3.41 billion, a price-to-earnings ratio of 23.37 and a beta of 0.79. The firm has a 50 day moving average price of $108.40 and a 200 day moving average price of $100.68. PriceSmart, Inc. has a 12 month low of $81.25 and a 12 month high of $114.01. The company has a current ratio of 1.28, a quick ratio of 0.50 and a debt-to-equity ratio of 0.07.

PriceSmart (NASDAQ:PSMT - Get Free Report) last issued its quarterly earnings results on Thursday, July 10th. The company reported $1.14 earnings per share for the quarter, missing analysts' consensus estimates of $1.16 by ($0.02). PriceSmart had a return on equity of 12.46% and a net margin of 2.82%.The firm had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.31 billion. During the same period last year, the company posted $1.08 EPS. The business's revenue was up 7.1% on a year-over-year basis. As a group, equities analysts anticipate that PriceSmart, Inc. will post 5.28 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded shares of PriceSmart from a "hold" rating to a "buy" rating in a research note on Friday.

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.