PriceSmart, Inc. (NASDAQ:PSMT) Shares Purchased by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. boosted its holdings in shares of PriceSmart, Inc. (NASDAQ:PSMT - Free Report) by 9.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 124,431 shares of the company's stock after acquiring an additional 11,181 shares during the period. Envestnet Asset Management Inc. owned about 0.40% of PriceSmart worth $10,931,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PSMT. Sterling Capital Management LLC increased its holdings in shares of PriceSmart by 536.7% in 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. Heck Capital Advisors LLC bought a new stake in PriceSmart during the fourth quarter valued at about $53,000. Fifth Third Bancorp grew its stake in PriceSmart by 119.7% in the first 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 last quarter. First Horizon Advisors Inc. grew its stake in PriceSmart by 24.3% in the first 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. Finally, State of Wyoming bought a new position in PriceSmart in the fourth quarter worth about $165,000. 80.46% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

PriceSmart Stock Down 1.5%

NASDAQ:PSMT traded down $1.62 during midday trading on Thursday, reaching $104.63. 185,979 shares of the stock traded hands, compared to its average volume of 253,126. The stock has a market capitalization of $3.22 billion, a PE ratio of 22.07 and a beta of 0.78. PriceSmart, Inc. has a 12-month low of $80.27 and a 12-month high of $113.59. 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 business has a 50-day moving average of $105.98 and a two-hundred day moving average of $96.41.

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

Insider Buying and Selling

In other news, Director Edgar Zurcher sold 390 shares of the company's stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $102.78, for a total transaction of $40,084.20. Following the transaction, the director owned 9,279 shares in the company, valued at $953,695.62. This represents a 4.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Jeffrey Fisher sold 2,000 shares of the business's stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $104.00, for a total transaction of $208,000.00. Following the sale, the director directly owned 11,011 shares in the company, valued at approximately $1,145,144. This represents a 15.37% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 10,386 shares of company stock valued at $1,063,743 in the last 90 days. 17.10% of the stock is owned by insiders.

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.