PriceSmart, Inc. $PSMT Shares Sold by Oliver Luxxe Assets LLC

Key Points

• Oliver Luxxe Assets LLC cut its PriceSmart stake by 46.3% in the second quarter, selling 5,941 shares and retaining 6,893 shares valued at $1.35 million. Institutional investors and hedge funds collectively own 80.46% of the company.
• PriceSmart reported quarterly revenue of $1.48 billion, up 12.5% year over year, but earnings per share of $1.28 fell short of the $1.32 consensus estimate.
• PSMT shares opened at $177.05, versus a 12-month range of $105.46 to $199.84. The stock carries an average analyst rating of “Buy,” while insiders sold 7,737 shares worth approximately $1.5 million during the latest quarter.

Oliver Luxxe Assets LLC lowered its position in PriceSmart, Inc. (NASDAQ:PSMT - Free Report) by 46.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,893 shares of the company's stock after selling 5,941 shares during the quarter. Oliver Luxxe Assets LLC's holdings in PriceSmart were worth $1,346,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. GAMMA Investing LLC grew its position in shares of PriceSmart by 26.8% during the second quarter. GAMMA Investing LLC now owns 1,651 shares of the company's stock worth $323,000 after acquiring an additional 349 shares during the last quarter. Lombard Odier Asset Management Europe Ltd raised its position in PriceSmart by 1.2% in the 1st quarter. Lombard Odier Asset Management Europe Ltd now owns 61,512 shares of the company's stock valued at $9,258,000 after purchasing an additional 727 shares during the last quarter. Bank of America Corp DE raised its position in PriceSmart by 10.4% in the 1st quarter. Bank of America Corp DE now owns 143,146 shares of the company's stock valued at $21,543,000 after purchasing an additional 13,540 shares during the last quarter. Edgestream Partners L.P. acquired a new stake in PriceSmart during the 1st quarter worth $6,075,000. Finally, Amundi acquired a new stake in PriceSmart during the 1st quarter worth $458,000. 80.46% of the stock is owned by institutional investors and hedge funds.

PriceSmart Price Performance

PriceSmart stock opened at $177.05 on Monday. PriceSmart, Inc. has a 12 month low of $105.46 and a 12 month high of $199.84. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.28 and a quick ratio of 0.53. The business has a 50 day simple moving average of $186.17 and a 200-day simple moving average of $165.05. The stock has a market capitalization of $5.46 billion, a PE ratio of 33.98 and a beta of 0.76.

PriceSmart (NASDAQ:PSMT - Get Free Report) last issued its quarterly earnings results on Wednesday, July 8th. The company reported $1.28 earnings per share for the quarter, missing the consensus estimate of $1.32 by ($0.04). PriceSmart had a return on equity of 12.16% and a net margin of 2.82%.The company had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.43 billion. During the same period in the prior year, the business earned $1.14 earnings per share. PriceSmart's revenue for the quarter was up 12.5% compared to the same quarter last year.

Analysts Set New Price Targets

Separately, Weiss Ratings downgraded shares of PriceSmart from a "buy (b+)" rating to a "buy (b)" rating in a research report on Friday, May 29th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has an average rating of "Buy".

Insiders Place Their Bets

In other news, Director Beatriz V. Infante sold 800 shares of the firm's stock in a transaction on Monday, July 13th. The shares were sold at an average price of $195.98, for a total value of $156,784.00. Following the completion of the sale, the director owned 11,210 shares in the company, valued at approximately $2,196,935.80. This trade represents a 6.66% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Sherry S. Bahrambeygui sold 3,499 shares of PriceSmart stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $197.38, for a total transaction of $690,632.62. Following the completion of the sale, the director directly owned 32,150 shares in the company, valued at approximately $6,345,767. The trade was a 9.82% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 7,737 shares of company stock worth $1,499,649. 17.00% of the stock is owned by insiders.

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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