Nitorum Capital L.P. Trims Position in PriceSmart, Inc. $PSMT

Key Points

• Nitorum Capital L.P. has reduced its stake in PriceSmart, Inc. by 6.2%, now holding 242,651 shares, which is about 3.0% of its investment portfolio.
• PriceSmart reported earnings of $1.14 per share for the last quarter, slightly below analysts' expectations of $1.16, although revenue increased by 7.1% year-over-year.
• The stock has a market capitalization of $3.37 billion and has experienced a price fluctuation between a 12-month low of $81.25 and a high of $114.01.

Nitorum Capital L.P. reduced its stake in shares of PriceSmart, Inc. (NASDAQ:PSMT - Free Report) by 6.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 242,651 shares of the company's stock after selling 15,966 shares during the quarter. PriceSmart makes up approximately 3.0% of Nitorum Capital L.P.'s investment portfolio, making the stock its 15th largest position. Nitorum Capital L.P. owned approximately 0.79% of PriceSmart worth $21,317,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in PSMT. Ridgewood Investments LLC purchased a new stake in PriceSmart in the first quarter worth about $42,000. Quarry LP bought a new position in shares of PriceSmart during the first quarter valued at approximately $49,000. Heck Capital Advisors LLC bought a new position in shares of PriceSmart during the fourth quarter valued at approximately $53,000. Fifth Third Bancorp boosted its stake in shares of PriceSmart by 119.7% during 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 in the last quarter. Finally, First Horizon Advisors Inc. boosted its stake in shares of PriceSmart by 24.3% during 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 in the last quarter. 80.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded shares of PriceSmart from a "hold" rating to a "buy" rating in a research note on Friday.

Insider Activity at PriceSmart

In related news, EVP Francisco Velasco sold 550 shares of the stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $106.31, for a total value of $58,470.50. Following the completion of the transaction, the executive vice president directly owned 77,908 shares of the company's stock, valued at $8,282,399.48. This trade represents a 0.70% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 17.10% of the stock is owned by insiders.

PriceSmart Stock Up 0.4%

Shares of PSMT stock traded up $0.39 during mid-day trading on Friday, hitting $109.97. 153,729 shares of the stock traded hands, compared to its average volume of 167,916. The stock has a market cap of $3.38 billion, a P/E ratio of 23.20 and a beta of 0.79. The stock's fifty day moving average is $108.27 and its two-hundred day moving average is $100.52. PriceSmart, Inc. has a 52-week low of $81.25 and a 52-week high of $114.01. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.28 and a quick ratio of 0.50.

PriceSmart (NASDAQ:PSMT - Get Free Report) last released its quarterly earnings results 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 analysts' expectations of $1.31 billion. PriceSmart had a net margin of 2.82% and a return on equity of 12.46%. The business's quarterly revenue was up 7.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.08 earnings per share. Equities analysts predict that PriceSmart, Inc. will post 5.28 EPS for the current year.

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.