Algert Global LLC Has $5.90 Million Stock Holdings in PriceSmart, Inc. $PSMT

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 decreased its position in PriceSmart, Inc. (NASDAQ:PSMT - Free Report) by 39.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 67,165 shares of the company's stock after selling 43,637 shares during the quarter. Algert Global LLC owned approximately 0.22% of PriceSmart worth $5,900,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. First Horizon Advisors Inc. raised its position in shares of PriceSmart by 24.3% in the first quarter. First Horizon Advisors Inc. now owns 654 shares of the company's stock valued at $57,000 after purchasing an additional 128 shares during the period. Choreo LLC raised its position in shares of PriceSmart by 6.7% in the first quarter. Choreo LLC now owns 2,825 shares of the company's stock valued at $248,000 after purchasing an additional 178 shares during the period. Mariner LLC increased its position in PriceSmart by 10.2% during the fourth quarter. Mariner LLC now owns 2,636 shares of the company's stock worth $243,000 after acquiring an additional 245 shares during the period. Bank of Montreal Can increased its position in PriceSmart by 7.9% during the fourth quarter. Bank of Montreal Can now owns 3,383 shares of the company's stock worth $312,000 after acquiring an additional 249 shares during the period. Finally, Sterling Capital Management LLC increased its position in PriceSmart by 536.7% during the fourth quarter. Sterling Capital Management LLC now owns 312 shares of the company's stock worth $29,000 after acquiring an additional 263 shares during the period. Institutional investors own 80.46% of the company's stock.

Insider Transactions at PriceSmart

In other PriceSmart news, EVP Francisco Velasco sold 550 shares of the business's stock in a transaction on Monday, July 7th. The shares were sold at an average price of $106.31, for a total value of $58,470.50. Following the sale, the executive vice president owned 77,908 shares of the company's stock, valued at $8,282,399.48. The trade was a 0.70% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 17.10% of the stock is owned by company insiders.

PriceSmart Stock Performance

PriceSmart stock traded up $3.20 on Friday, hitting $110.74. The company's stock had a trading volume of 235,216 shares, compared to its average volume of 186,797. The firm has a market cap of $3.41 billion, a P/E ratio of 23.36 and a beta of 0.77. The company has a quick ratio of 0.50, a current ratio of 1.28 and a debt-to-equity ratio of 0.07. The company has a fifty day moving average price of $107.35 and a 200-day moving average price of $99.26. PriceSmart, Inc. has a one year low of $81.25 and a one year high of $114.01.

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

Wall Street Analyst Weigh In

Separately, Wall Street Zen lowered shares of PriceSmart from a "buy" rating to a "hold" rating in a research report on Friday.

PriceSmart Company 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.