Oliver Luxxe Assets LLC Invests $1.32 Million in PriceSmart, Inc. $PSMT

Key Points

• Oliver Luxxe Assets LLC has invested approximately $1.32 million in PriceSmart, acquiring 12,571 shares during the 2nd quarter.
• Several institutional investors, including GAMMA Investing LLC and Ridgewood Investments LLC, have increased their stakes in PriceSmart, with institutional ownership now at 80.46%.
• PriceSmart's stock saw a recent upgrade from a "hold" to a "buy" rating by Wall Street Zen, reflecting a positive outlook for the company.

Oliver Luxxe Assets LLC bought a new position in PriceSmart, Inc. (NASDAQ:PSMT - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 12,571 shares of the company's stock, valued at approximately $1,320,000.

Several other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC grew its holdings in PriceSmart by 13.0% in the 2nd quarter. GAMMA Investing LLC now owns 888 shares of the company's stock worth $93,000 after acquiring an additional 102 shares during the last quarter. Ridgewood Investments LLC grew its stake in shares of PriceSmart by 42.1% in the second quarter. Ridgewood Investments LLC now owns 675 shares of the company's stock worth $71,000 after purchasing an additional 200 shares during the last quarter. Assenagon Asset Management S.A. purchased a new position in PriceSmart during the 2nd quarter valued at about $2,261,000. Wealth Enhancement Advisory Services LLC raised its position in PriceSmart by 3.2% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 4,911 shares of the company's stock valued at $524,000 after purchasing an additional 152 shares during the last quarter. Finally, Harbor Capital Advisors Inc. lifted its holdings in PriceSmart by 2.5% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 116,131 shares of the company's stock worth $12,198,000 after buying an additional 2,863 shares during the period. Hedge funds and other institutional investors own 80.46% of the company's stock.

Insider Buying and Selling

In other PriceSmart news, EVP Michael Mccleary sold 9,754 shares of the firm's stock in a transaction that occurred on Tuesday, September 9th. The shares were sold at an average price of $110.62, for a total transaction of $1,078,987.48. Following the completion of the transaction, the executive vice president owned 47,082 shares of the company's stock, valued at approximately $5,208,210.84. This trade represents a 17.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Francisco Velasco sold 550 shares of the business's stock in a transaction that occurred 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 sale, the executive vice president directly owned 77,908 shares in the company, valued at approximately $8,282,399.48. This represents a 0.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. 17.10% of the stock is currently owned by company insiders.

PriceSmart Trading Up 0.2%

PSMT opened at $115.63 on Tuesday. The stock has a market cap of $3.56 billion, a PE ratio of 24.39 and a beta of 0.79. The business has a 50 day moving average of $110.39 and a 200-day moving average of $102.53. PriceSmart, Inc. has a 52 week low of $81.25 and a 52 week high of $120.99. The company has a quick ratio of 0.50, a current ratio of 1.28 and a debt-to-equity ratio of 0.07.

PriceSmart (NASDAQ:PSMT - Get Free Report) last announced its quarterly earnings data 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 prior year, the business posted $1.08 EPS. Equities research analysts predict that PriceSmart, Inc. will post 5.28 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

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.

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