PriceSmart, Inc. $PSMT is Pertento Partners LLP's 8th Largest Position

Key Points

• Pertento Partners increased its stake in PriceSmart by 3.6% to 416,508 shares, representing 5.9% of Pertento’s portfolio and about 1.35% of PriceSmart, valued at roughly $50.48 million and making it the fund’s 8th largest holding.
• Quarterly results: PriceSmart posted $1.29 EPS (vs. $1.28 est.) and $1.38 billion in revenue (vs. $1.36B est.), with revenue up 9.9% year-over-year and a consensus analyst rating of “Strong Buy.”
• Insider selling was notable this quarter — executives sold a total of 16,671 shares worth about $2.28 million (including EVP Paul Kovaleski and Director Beatriz V. Infante), and insiders now own 17.0% of the stock.

Pertento Partners LLP raised its position in PriceSmart, Inc. (NASDAQ:PSMT - Free Report) by 3.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 416,508 shares of the company's stock after acquiring an additional 14,527 shares during the quarter. PriceSmart makes up 5.9% of Pertento Partners LLP's investment portfolio, making the stock its 8th largest position. Pertento Partners LLP owned 1.35% of PriceSmart worth $50,477,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC grew its stake in shares of PriceSmart by 1.9% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 5,004 shares of the company's stock worth $607,000 after purchasing an additional 93 shares during the last quarter. Smartleaf Asset Management LLC raised its position in PriceSmart by 10.9% during the 2nd quarter. Smartleaf Asset Management LLC now owns 946 shares of the company's stock valued at $101,000 after purchasing an additional 93 shares during the last quarter. Nisa Investment Advisors LLC lifted its holdings in PriceSmart by 20.4% in the 3rd quarter. Nisa Investment Advisors LLC now owns 601 shares of the company's stock worth $73,000 after buying an additional 102 shares during the period. Parallel Advisors LLC lifted its holdings in PriceSmart by 27.4% in the 3rd quarter. Parallel Advisors LLC now owns 516 shares of the company's stock worth $63,000 after buying an additional 111 shares during the period. Finally, Arizona State Retirement System grew its position in shares of PriceSmart by 1.5% in the 3rd quarter. Arizona State Retirement System now owns 7,722 shares of the company's stock worth $936,000 after buying an additional 113 shares during the last quarter. 80.46% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, EVP Paul Kovaleski sold 4,255 shares of PriceSmart stock in a transaction dated Monday, January 12th. The stock was sold at an average price of $136.86, for a total value of $582,339.30. Following the completion of the transaction, the executive vice president owned 38,854 shares of the company's stock, valued at $5,317,558.44. The trade was a 9.87% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Beatriz V. Infante sold 1,995 shares of the company's stock in a transaction dated Monday, January 12th. The stock was sold at an average price of $136.87, for a total transaction of $273,055.65. Following the completion of the transaction, the director owned 10,879 shares in the company, valued at approximately $1,489,008.73. The trade was a 15.50% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 16,671 shares of company stock worth $2,283,051. 17.00% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

PSMT has been the subject of a number of recent analyst reports. Weiss Ratings upgraded PriceSmart from a "buy (b+)" rating to a "buy (a-)" rating in a report on Tuesday. Wall Street Zen cut shares of PriceSmart from a "buy" rating to a "hold" rating in a report on Sunday, January 11th. One equities research analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat.com, PriceSmart has a consensus rating of "Strong Buy".

PriceSmart Trading Down 1.1%

NASDAQ PSMT opened at $145.97 on Thursday. The firm has a market capitalization of $4.50 billion, a PE ratio of 29.79 and a beta of 0.73. The stock's 50 day moving average is $145.46 and its 200 day moving average is $128.66. PriceSmart, Inc. has a twelve month low of $81.25 and a twelve month high of $158.01. The company has a quick ratio of 0.55, a current ratio of 1.33 and a debt-to-equity ratio of 0.11.

PriceSmart (NASDAQ:PSMT - Get Free Report) last announced its quarterly earnings data on Wednesday, January 7th. The company reported $1.29 EPS for the quarter, beating the consensus estimate of $1.28 by $0.01. The business had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.36 billion. PriceSmart had a return on equity of 12.20% and a net margin of 2.79%.The company's revenue for the quarter was up 9.9% on a year-over-year basis. During the same quarter last year, the firm posted $1.21 earnings per share. Research analysts forecast that PriceSmart, Inc. will post 5.28 earnings per share for the current fiscal year.

PriceSmart Dividend Announcement

The firm also recently disclosed a dividend, which will be paid on Monday, August 31st. Shareholders of record on Monday, August 17th will be issued a $0.70 dividend. This represents a yield of 89.0%. The ex-dividend date is Monday, August 17th. PriceSmart's dividend payout ratio is 28.57%.

About PriceSmart

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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