Empowered Funds LLC Takes $5.17 Million Position in PriceSmart, Inc. $PSMT

Key Points

• Empowered Funds LLC acquired 34,321 PriceSmart shares worth approximately $5.17 million, giving it a 0.11% stake. Institutional investors collectively own 80.46% of the company.
• PriceSmart shares opened at $193.91, near their 52-week high of $199.84, with a market capitalization of about $5.98 billion. The stock is rated “Buy” on average by analysts, though Weiss Ratings recently downgraded it from “buy (b+)” to “buy (b).”
• Quarterly revenue rose 12.5% year over year to $1.48 billion, exceeding expectations, while earnings of $1.28 per share fell short of the $1.32 consensus estimate. Insiders have sold 5,497 shares valued at approximately $965,085 over the past 90 days.

Empowered Funds LLC purchased a new position in shares of PriceSmart, Inc. (NASDAQ:PSMT - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 34,321 shares of the company's stock, valued at approximately $5,165,000. Empowered Funds LLC owned 0.11% of PriceSmart as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. UMB Bank n.a. increased its position in PriceSmart by 76.0% during the 4th quarter. UMB Bank n.a. now owns 227 shares of the company's stock worth $28,000 after purchasing an additional 98 shares during the period. CENTRAL TRUST Co purchased a new position in shares of PriceSmart during the 4th quarter worth approximately $32,000. Geneos Wealth Management Inc. lifted its holdings in shares of PriceSmart by 560.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 297 shares of the company's stock valued at $26,000 after buying an additional 252 shares during the period. Caitong International Asset Management Co. Ltd lifted its holdings in shares of PriceSmart by 45,600.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 457 shares of the company's stock valued at $56,000 after buying an additional 456 shares during the period. Finally, Osaic Holdings Inc. boosted its stake in shares of PriceSmart by 57.2% in the second quarter. Osaic Holdings Inc. now owns 492 shares of the company's stock valued at $52,000 after buying an additional 179 shares in the last quarter. 80.46% of the stock is owned by hedge funds and other institutional investors.

PriceSmart Stock Up 0.8%

Shares of NASDAQ PSMT opened at $193.91 on Friday. The company has a quick ratio of 0.53, a current ratio of 1.28 and a debt-to-equity ratio of 0.08. 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 $184.39 and a 200 day moving average price of $163.23. The stock has a market capitalization of $5.98 billion, a price-to-earnings ratio of 37.22 and a beta of 0.76.

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

Wall Street Analyst Weigh In

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

Insider Activity at PriceSmart

In related news, EVP Francisco Velasco sold 338 shares of the company's stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $158.56, for a total value of $53,593.28. Following the sale, the executive vice president owned 75,659 shares in the company, valued at $11,996,491.04. This represents a 0.44% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Edgar Zurcher sold 2,259 shares of the firm's stock in a transaction that occurred on Monday, May 4th. The shares were 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 of the company's stock, valued at $1,264,790.67. The trade was a 21.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 5,497 shares of company stock valued at $965,085 in the last 90 days. Insiders own 17.00% of the company's stock.

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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