Lombard Odier Asset Management Europe Ltd Buys Shares of 72,951 PriceSmart, Inc. $PSMT

Key Points

• Lombard Odier Asset Management Europe purchased 72,951 PriceSmart shares worth approximately $14.25 million, acquiring a 0.24% stake. Institutional investors collectively own 80.46% of the company.
• Analysts maintain a positive outlook, with PriceSmart receiving a consensus “Buy” rating and a $198 price target. The stock opened at $169.34 and has traded between $106.87 and $199.84 over the past year.
• PriceSmart’s latest quarterly revenue rose 12.5% year over year to $1.48 billion, exceeding estimates, though earnings per share of $1.28 fell short of the $1.32 consensus. Insiders have sold 7,737 shares worth about $1.51 million over the past 90 days.

Lombard Odier Asset Management Europe Ltd bought a new stake in shares of PriceSmart, Inc. (NASDAQ:PSMT - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 72,951 shares of the company's stock, valued at approximately $14,250,000. Lombard Odier Asset Management Europe Ltd owned 0.24% of PriceSmart as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Empowered Funds LLC purchased a new position in PriceSmart in the second quarter valued at approximately $6,926,000. Jefferies Financial Group Inc. bought a new position in PriceSmart during the second quarter valued at $294,000. Public Employees Retirement System of Ohio purchased a new stake in PriceSmart in the second quarter worth $123,000. Capstone Investment Advisors LLC purchased a new stake in PriceSmart in the second quarter worth $578,000. Finally, Corient Private Wealth LP bought a new stake in shares of PriceSmart in the second quarter valued at $831,000. Hedge funds and other institutional investors own 80.46% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Weiss Ratings reaffirmed a "buy (b)" rating on shares of PriceSmart in a research report on Wednesday. Jefferies Financial Group reissued a "buy" rating and issued a $198.00 price objective on shares of PriceSmart in a report on Wednesday, August 12th. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, PriceSmart has an average rating of "Buy" and a consensus target price of $198.00.

PriceSmart Stock Performance

NASDAQ:PSMT opened at $169.34 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.53 and a current ratio of 1.28. PriceSmart, Inc. has a 52-week low of $106.87 and a 52-week high of $199.84. The firm has a market cap of $5.23 billion, a price-to-earnings ratio of 32.50 and a beta of 0.76. The business's fifty day moving average is $185.62 and its 200 day moving average is $168.05.

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

Insider Transactions at PriceSmart

In related news, Director Sherry S. Bahrambeygui sold 3,499 shares of the business's stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $197.38, for a total transaction of $690,632.62. Following the completion of the transaction, the director owned 32,150 shares of the company's stock, valued at approximately $6,345,767. The trade was a 9.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Francisco Velasco sold 338 shares of the company's stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $177.87, for a total transaction of $60,120.06. Following the sale, the executive vice president directly owned 75,321 shares in the company, valued at $13,397,346.27. This trade represents a 0.45% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 7,737 shares of company stock valued at $1,506,176. 17.00% of the stock is currently owned by corporate insiders.

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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