Meeder Asset Management Inc. Acquires 11,592 Shares of PriceSmart, Inc. (NASDAQ:PSMT)

Meeder Asset Management Inc. boosted its position in PriceSmart, Inc. (NASDAQ:PSMT - Free Report) by 2,237.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,110 shares of the company's stock after acquiring an additional 11,592 shares during the quarter. Meeder Asset Management Inc.'s holdings in PriceSmart were worth $1,064,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the company. Principal Financial Group Inc. lifted its holdings in PriceSmart by 2.3% in the first quarter. Principal Financial Group Inc. now owns 131,194 shares of the company's stock valued at $11,525,000 after buying an additional 3,003 shares during the period. Wealth Enhancement Advisory Services LLC lifted its holdings in PriceSmart by 68.1% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 4,759 shares of the company's stock valued at $418,000 after buying an additional 1,928 shares during the period. New York State Teachers Retirement System lifted its holdings in PriceSmart by 19.3% in the first quarter. New York State Teachers Retirement System now owns 10,785 shares of the company's stock valued at $947,000 after buying an additional 1,742 shares during the period. Harbor Capital Advisors Inc. lifted its holdings in PriceSmart by 522.5% in the first quarter. Harbor Capital Advisors Inc. now owns 113,268 shares of the company's stock valued at $9,951,000 after buying an additional 95,073 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in PriceSmart by 7,364.9% in the first quarter. GAMMA Investing LLC now owns 69,050 shares of the company's stock valued at $6,066,000 after buying an additional 68,125 shares during the period. 80.46% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Jeffrey Fisher sold 3,000 shares of the firm's stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $102.21, for a total transaction of $306,630.00. Following the sale, the director owned 13,011 shares in the company, valued at approximately $1,329,854.31. This trade represents a 18.74% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Francisco Velasco sold 550 shares of the firm's stock in a transaction on Monday, July 7th. The shares were sold at an average price of $106.31, for a total transaction of $58,470.50. Following the sale, the executive vice president owned 77,908 shares in the company, valued at approximately $8,282,399.48. This trade represents a 0.70% decrease in their position. The disclosure for this sale can be found here. Insiders sold 9,490 shares of company stock valued at $973,382 in the last quarter. 17.10% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

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 Up 1.6%

NASDAQ:PSMT traded up $1.70 on Friday, hitting $109.20. The stock had a trading volume of 224,274 shares, compared to its average volume of 242,757. 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 stock has a market cap of $3.36 billion, a P/E ratio of 23.04 and a beta of 0.78. PriceSmart, Inc. has a 1 year low of $80.27 and a 1 year high of $113.59. The firm's fifty day simple moving average is $106.19 and its two-hundred day simple moving average is $96.99.

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 the consensus estimate of $1.16 by ($0.02). The company had revenue of $1.32 billion for the quarter, compared to analysts' expectations of $1.31 billion. PriceSmart had a return on equity of 12.46% and a net margin of 2.82%. The company'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 EPS. Analysts predict that PriceSmart, Inc. will post 5.28 earnings per share for the current year.

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.