EntryPoint Capital LLC Takes $663,000 Position in PriceSmart, Inc. $PSMT

Key Points

• EntryPoint Capital LLC has invested $663,000 in PriceSmart, purchasing 7,545 shares during the first quarter of 2023.
• PriceSmart's stock has recently seen activity from various institutional investors, with Sterling Capital Management increasing its holdings by 536.7% in the fourth quarter.
• PriceSmart received an upgrade from a "hold" to a "buy" rating by Wall Street Zen on July 5, indicating positive market sentiment toward the company's performance.

EntryPoint Capital LLC purchased a new stake in shares of PriceSmart, Inc. (NASDAQ:PSMT - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 7,545 shares of the company's stock, valued at approximately $663,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Sterling Capital Management LLC lifted its position in shares of PriceSmart by 536.7% during the 4th quarter. Sterling Capital Management LLC now owns 312 shares of the company's stock valued at $29,000 after acquiring an additional 263 shares during the period. Ridgewood Investments LLC bought a new position in PriceSmart during the 1st quarter worth $42,000. Heck Capital Advisors LLC bought a new position in PriceSmart during the 4th quarter worth $53,000. Fifth Third Bancorp raised its position in shares of PriceSmart by 119.7% in the 1st quarter. Fifth Third Bancorp now owns 635 shares of the company's stock worth $56,000 after acquiring an additional 346 shares in the last quarter. Finally, First Horizon Advisors Inc. raised its position in shares of PriceSmart by 24.3% in the 1st quarter. First Horizon Advisors Inc. now owns 654 shares of the company's stock worth $57,000 after acquiring an additional 128 shares in the last quarter. Institutional investors and hedge funds own 80.46% of the company's stock.

Insider Transactions at PriceSmart

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

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded PriceSmart from a "hold" rating to a "buy" rating in a research note on Saturday, July 5th.

PriceSmart Stock Performance

Shares of PriceSmart stock traded up $3.20 during trading hours on Friday, reaching $110.74. The company had a trading volume of 235,216 shares, compared to its average volume of 186,797. PriceSmart, Inc. has a one year low of $81.25 and a one year high of $114.01. The business has a fifty day simple moving average of $107.35 and a 200 day simple moving average of $99.26. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.28 and a quick ratio of 0.50. The firm has a market cap of $3.41 billion, a PE ratio of 23.36 and a beta of 0.77.

PriceSmart (NASDAQ:PSMT - Get Free Report) last released its quarterly earnings results on Thursday, July 10th. The company reported $1.14 earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $1.31 billion. During the same period in the previous year, the company posted $1.08 EPS. The company's revenue for the quarter was up 7.1% compared to the same quarter last year. On average, analysts anticipate that PriceSmart, Inc. will post 5.28 earnings per share for the current fiscal year.

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.