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

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Sterling Capital Management LLC grew its holdings in shares of PriceSmart by 536.7% in the fourth quarter. Sterling Capital Management LLC now owns 312 shares of the company's stock worth $29,000 after acquiring an additional 263 shares during the period. Ridgewood Investments LLC purchased a new position in PriceSmart in the first quarter worth about $42,000. Heck Capital Advisors LLC bought a new stake in shares of PriceSmart during the 4th quarter valued at about $53,000. Fifth Third Bancorp grew its stake in shares of PriceSmart by 119.7% during the 1st quarter. Fifth Third Bancorp now owns 635 shares of the company's stock valued at $56,000 after purchasing an additional 346 shares during the period. Finally, First Horizon Advisors Inc. increased its position in shares of PriceSmart by 24.3% during the 1st quarter. First Horizon Advisors Inc. now owns 654 shares of the company's stock valued at $57,000 after purchasing an additional 128 shares during the last quarter. 80.46% of the stock is owned by institutional investors.

PriceSmart Price Performance

Shares of PSMT traded down $0.8260 during mid-day trading on Monday, reaching $109.9140. The stock had a trading volume of 37,377 shares, compared to its average volume of 235,927. The business has a fifty day moving average of $107.35 and a 200 day moving average of $99.34. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.50 and a current ratio of 1.28. The firm has a market cap of $3.38 billion, a price-to-earnings ratio of 23.25 and a beta of 0.77. PriceSmart, Inc. has a 12 month low of $81.25 and a 12 month high of $114.01.

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

Insider Buying and Selling

In other news, EVP Francisco Velasco sold 550 shares of the business's 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 directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 17.10% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen downgraded shares of PriceSmart from a "buy" rating to a "hold" rating in a report on Friday.

PriceSmart Company Profile

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.