First Trust Advisors LP Has $113.27 Million Stock Holdings in PriceSmart, Inc. $PSMT

Key Points

• First Trust Advisors LP trimmed its PriceSmart stake by 2.6% in the first quarter, but still held 752,615 shares worth about $113.27 million as of its latest SEC filing.
• Institutional ownership remains high, with hedge funds and other investors holding 80.46% of PriceSmart shares. Several firms added to or initiated positions during the quarter.
• PriceSmart reported Q3 revenue of $1.48 billion, topping expectations, but earnings per share of $1.28 missed estimates; separately, insiders sold shares and Weiss Ratings slightly lowered its rating from “buy (b+)” to “buy (b).”

First Trust Advisors LP lowered its stake in PriceSmart, Inc. (NASDAQ:PSMT - Free Report) by 2.6% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 752,615 shares of the company's stock after selling 19,981 shares during the period. First Trust Advisors LP owned approximately 2.44% of PriceSmart worth $113,269,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of PSMT. Swiss National Bank increased its holdings in shares of PriceSmart by 0.6% during the first quarter. Swiss National Bank now owns 51,900 shares of the company's stock worth $7,811,000 after purchasing an additional 300 shares during the period. C WorldWide Group Holding A S acquired a new position in shares of PriceSmart in the 1st quarter valued at approximately $282,000. Illinois Municipal Retirement Fund boosted its position in shares of PriceSmart by 2.4% during the 1st quarter. Illinois Municipal Retirement Fund now owns 13,526 shares of the company's stock worth $2,036,000 after acquiring an additional 321 shares in the last quarter. Aubrey Capital Management Ltd acquired a new stake in shares of PriceSmart in the 1st quarter valued at $2,002,000. Finally, Calamos Advisors LLC acquired a new position in shares of PriceSmart during the 1st quarter worth $4,165,000. 80.46% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at PriceSmart

In other PriceSmart news, Director Gordon H. Hanson sold 635 shares of the company's stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $157.60, for a total transaction of $100,076.00. Following the sale, the director directly owned 8,149 shares of the company's stock, valued at $1,284,282.40. This represents a 7.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Francisco Velasco sold 338 shares of the stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $158.56, for a total transaction of $53,593.28. Following the transaction, the executive vice president owned 75,659 shares of the company's stock, valued at $11,996,491.04. This represents a 0.44% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 4,032 shares of company stock worth $660,982. Insiders own 17.00% of the company's stock.

PriceSmart Price Performance

PSMT opened at $186.67 on Friday. PriceSmart, Inc. has a 1 year low of $104.11 and a 1 year high of $199.84. 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 has a market capitalization of $5.76 billion, a price-to-earnings ratio of 35.83 and a beta of 0.76. The firm's fifty day moving average price is $181.07 and its two-hundred day moving average price is $160.89.

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

Analyst Upgrades and Downgrades

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

PriceSmart 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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