Edgestream Partners L.P. Buys New Shares in PriceSmart, Inc. $PSMT

Key Points

• Edgestream Partners L.P. bought 40,365 PriceSmart shares worth approximately $6.1 million, giving the fund a 0.13% stake. Institutional investors collectively own 80.46% of the company.
• PriceSmart reported quarterly revenue of $1.48 billion, up 12.5% year over year and above estimates, although earnings per share of $1.28 slightly missed the $1.32 consensus forecast.
• PSMT shares opened at $192.39, near their 52-week high of $199.84. The stock retains a consensus “Buy” rating, while insiders have sold 5,497 shares worth $965,085 over the past 90 days.

Edgestream Partners L.P. purchased a new stake in PriceSmart, Inc. (NASDAQ:PSMT - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 40,365 shares of the company's stock, valued at approximately $6,075,000. Edgestream Partners L.P. owned about 0.13% of PriceSmart at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Maryland State Retirement & Pension System increased its position in shares of PriceSmart by 2.0% in the fourth quarter. Maryland State Retirement & Pension System now owns 3,699 shares of the company's stock valued at $454,000 after acquiring an additional 73 shares during the last quarter. Parallel Advisors LLC boosted its position in PriceSmart by 14.3% during the fourth quarter. Parallel Advisors LLC now owns 590 shares of the company's stock valued at $72,000 after purchasing an additional 74 shares during the last quarter. Smartleaf Asset Management LLC grew its stake in PriceSmart by 10.9% in the second quarter. Smartleaf Asset Management LLC now owns 946 shares of the company's stock valued at $101,000 after purchasing an additional 93 shares in the last quarter. Hantz Financial Services Inc. grew its stake in PriceSmart by 15.1% in the fourth quarter. Hantz Financial Services Inc. now owns 745 shares of the company's stock valued at $91,000 after purchasing an additional 98 shares in the last quarter. Finally, UMB Bank n.a. grew its stake in PriceSmart by 76.0% in the fourth quarter. UMB Bank n.a. now owns 227 shares of the company's stock valued at $28,000 after purchasing an additional 98 shares in the last quarter. 80.46% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In other news, Director Beatriz V. Infante sold 800 shares of the firm's stock in a transaction that occurred on Monday, July 13th. The stock was sold at an average price of $195.98, for a total value of $156,784.00. Following the completion of the sale, the director directly owned 11,210 shares of the company's stock, valued at $2,196,935.80. This trade represents a 6.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Francisco Velasco sold 338 shares of the stock in a transaction on Friday, May 15th. The shares were sold at an average price of $158.56, for a total value of $53,593.28. Following the completion of the sale, the executive vice president owned 75,659 shares in the company, valued at approximately $11,996,491.04. This trade represents a 0.44% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 5,497 shares of company stock worth $965,085 over the last ninety days. 17.00% of the stock is currently owned by corporate insiders.

PriceSmart Stock Down 0.1%

PriceSmart stock opened at $192.39 on Friday. 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's 50-day moving average is $183.80 and its 200-day moving average is $163.01. The firm has a market capitalization of $5.94 billion, a PE ratio of 36.93 and a beta of 0.76. PriceSmart, Inc. has a fifty-two week low of $105.46 and a fifty-two week high of $199.84.

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

PriceSmart Company Profile

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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