PriceSmart, Inc. $PSMT Shares Sold by Algert Global LLC

Key Points

• Algert Global LLC reduced its stake in PriceSmart by 39.4%, selling 43,637 shares to end up with 67,165 shares worth approximately $5.9 million.
• Despite missing earnings estimates for the quarter, PriceSmart reported a year-over-year revenue increase of 7.1%, totaling $1.32 billion.
• Wall Street Zen upgraded PriceSmart's rating from "hold" to "buy", reflecting positive market sentiment and expectations for future performance.

Algert Global LLC trimmed its holdings in shares of PriceSmart, Inc. (NASDAQ:PSMT - Free Report) by 39.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 67,165 shares of the company's stock after selling 43,637 shares during the period. Algert Global LLC owned approximately 0.22% of PriceSmart worth $5,900,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. Dimensional Fund Advisors LP raised its stake in shares of PriceSmart by 0.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,305,698 shares of the company's stock worth $120,345,000 after buying an additional 5,947 shares in the last quarter. American Century Companies Inc. grew its holdings in PriceSmart by 5.7% during the first quarter. American Century Companies Inc. now owns 1,300,921 shares of the company's stock worth $114,286,000 after acquiring an additional 70,225 shares during the period. Copeland Capital Management LLC grew its holdings in PriceSmart by 25.8% during the first quarter. Copeland Capital Management LLC now owns 782,353 shares of the company's stock worth $68,730,000 after acquiring an additional 160,656 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in PriceSmart by 0.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 456,915 shares of the company's stock worth $40,140,000 after acquiring an additional 3,039 shares during the period. Finally, Nuveen LLC acquired a new position in PriceSmart during the first quarter worth about $36,685,000. 80.46% of the stock is owned by institutional investors and hedge funds.

PriceSmart Price Performance

NASDAQ:PSMT opened at $108.95 on Monday. The business's 50-day moving average price is $107.12 and its 200 day moving average price is $98.72. The firm has a market cap of $3.35 billion, a P/E ratio of 22.99 and a beta of 0.77. PriceSmart, Inc. has a 52-week low of $81.25 and a 52-week high of $113.92. 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 released its earnings results on Thursday, July 10th. The company reported $1.14 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.16 by ($0.02). The firm had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.31 billion. PriceSmart had a return on equity of 12.46% and a net margin of 2.82%. PriceSmart's revenue was up 7.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.08 earnings per share. As a group, sell-side analysts predict that PriceSmart, Inc. will post 5.28 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at PriceSmart

In related 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 in the company, valued at $8,282,399.48. This trade represents a 0.70% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 17.10% of the stock is owned by company insiders.

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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