PEAK6 LLC Buys Shares of 26,283 PriceSmart, Inc. $PSMT

Key Points

• PEAK6 LLC acquired 26,283 PriceSmart shares in the second quarter, worth approximately $5.13 million and representing about 0.09% of the company. Institutional investors and hedge funds collectively own 80.46% of PSMT.
• PriceSmart reported quarterly revenue of $1.48 billion, up 12.5% year over year and above estimates, while EPS of $1.28 fell short of the $1.32 consensus forecast.
• Analysts maintain a positive outlook, with an average “Buy” rating and a consensus price target of $198; however, company insiders have sold 7,737 shares worth roughly $1.51 million over the past 90 days.

PEAK6 LLC purchased a new position in shares of PriceSmart, Inc. (NASDAQ:PSMT - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 26,283 shares of the company's stock, valued at approximately $5,134,000. PEAK6 LLC owned approximately 0.09% of PriceSmart as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Geneos Wealth Management Inc. boosted its holdings in PriceSmart by 560.0% during the first quarter. Geneos Wealth Management Inc. now owns 297 shares of the company's stock worth $26,000 after purchasing an additional 252 shares during the last quarter. UMB Bank n.a. increased its stake in PriceSmart by 76.0% in the 4th quarter. UMB Bank n.a. now owns 227 shares of the company's stock valued at $28,000 after buying an additional 98 shares during the last quarter. CENTRAL TRUST Co bought a new stake in PriceSmart during the 4th quarter worth about $32,000. Bell Investment Advisors Inc acquired a new position in shares of PriceSmart during the 2nd quarter worth about $40,000. Finally, Osaic Holdings Inc. grew its holdings in shares of PriceSmart by 57.2% in the 2nd quarter. Osaic Holdings Inc. now owns 492 shares of the company's stock valued at $52,000 after acquiring an additional 179 shares in the last quarter. 80.46% of the stock is currently owned by institutional investors and hedge funds.

PriceSmart Stock Performance

NASDAQ PSMT opened at $172.87 on Monday. The company has a quick ratio of 0.53, a current ratio of 1.28 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $5.33 billion, a P/E ratio of 33.18 and a beta of 0.76. PriceSmart, Inc. has a 12-month low of $105.46 and a 12-month high of $199.84. The firm has a 50-day moving average price of $186.27 and a two-hundred day moving average price of $167.36.

PriceSmart (NASDAQ:PSMT - Get Free Report) last announced 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 business had revenue of $1.48 billion for 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 period in the prior year, the business posted $1.14 earnings per share.

Analysts Set New Price Targets

A number of analysts recently issued reports on PSMT shares. Jefferies Financial Group reaffirmed a "buy" rating and issued a $198.00 target price on shares of PriceSmart in a research report on Wednesday, August 12th. Weiss Ratings downgraded PriceSmart from a "buy (b+)" rating to a "buy (b)" rating in a research note on Friday, May 29th. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, PriceSmart presently has an average rating of "Buy" and a consensus target price of $198.00.

Insiders Place Their Bets

In related news, Director Sherry S. Bahrambeygui sold 3,499 shares of the business's stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $197.38, for a total value of $690,632.62. Following the completion of the transaction, the director owned 32,150 shares of the company's stock, valued at $6,345,767. The trade was a 9.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Francisco Velasco sold 338 shares of the company's stock in a transaction dated 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 of the company's stock, valued at $13,397,346.27. This represents a 0.45% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 7,737 shares of company stock worth $1,506,176 in the last 90 days. Company insiders own 17.00% of the company's stock.

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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