PriceSmart, Inc. $PSMT Shares Sold by Nitorum Capital L.P.

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. lowered its position in shares of PriceSmart, Inc. (NASDAQ:PSMT - Free Report) by 6.2% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 242,651 shares of the company's stock after selling 15,966 shares during the quarter. PriceSmart comprises approximately 3.0% of Nitorum Capital L.P.'s holdings, making the stock its 15th largest holding. Nitorum Capital L.P. owned approximately 0.79% of PriceSmart worth $21,317,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of PriceSmart by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,917 shares of the company's stock worth $1,310,000 after purchasing an additional 648 shares during the period. Jacobs Levy Equity Management Inc. grew its holdings in shares of PriceSmart by 353.9% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 169,943 shares of the company's stock worth $14,929,000 after purchasing an additional 132,502 shares during the period. Hancock Whitney Corp grew its holdings in shares of PriceSmart by 16.4% during the 1st quarter. Hancock Whitney Corp now owns 2,591 shares of the company's stock worth $228,000 after purchasing an additional 366 shares during the period. Cinctive Capital Management LP purchased a new stake in shares of PriceSmart during the 1st quarter worth about $8,301,000. Finally, AQR Capital Management LLC grew its holdings in shares of PriceSmart by 10.4% during the 1st quarter. AQR Capital Management LLC now owns 68,610 shares of the company's stock worth $6,027,000 after purchasing an additional 6,486 shares during the period. Hedge funds and other institutional investors own 80.46% of the company's stock.

PriceSmart Stock Performance

PSMT traded down $0.84 during trading on Wednesday, reaching $109.95. 92,282 shares of the company were exchanged, compared to its average volume of 232,138. The stock has a market cap of $3.38 billion, a P/E ratio of 23.20 and a beta of 0.79. The firm has a 50 day moving average of $108.50 and a 200 day moving average of $100.75. The company has a current ratio of 1.28, a quick ratio of 0.50 and a debt-to-equity ratio of 0.07. PriceSmart, Inc. has a 52 week low of $81.25 and a 52 week high of $114.01.

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

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised PriceSmart from a "hold" rating to a "buy" rating in a research report on Friday, September 5th.

Insider Activity

In other news, EVP Francisco Velasco sold 550 shares of the stock in a transaction on Monday, July 7th. The stock was 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 owned 77,908 shares of the company's stock, valued at approximately $8,282,399.48. This represents a 0.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 17.10% of the company's stock.

PriceSmart 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.