Public Sector Pension Investment Board Buys 16,803 Shares of PriceSmart, Inc. $PSMT

Key Points

• The Public Sector Pension Investment Board increased its stake in PriceSmart, Inc. by 27.2%, now owning 78,691 shares worth approximately $6.91 million.
• PriceSmart's stock was recently upgraded from a "hold" to a "buy" rating by Wall Street Zen, indicating growing confidence in the company's performance.
• In its latest earnings report, PriceSmart missed EPS estimates, reporting $1.14, but achieved revenue of $1.32 billion, surpassing analyst expectations.

Public Sector Pension Investment Board lifted its stake in shares of PriceSmart, Inc. (NASDAQ:PSMT - Free Report) by 27.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 78,691 shares of the company's stock after buying an additional 16,803 shares during the quarter. Public Sector Pension Investment Board owned about 0.26% of PriceSmart worth $6,913,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of PSMT. Sterling Capital Management LLC grew its holdings in PriceSmart by 536.7% in the fourth quarter. Sterling Capital Management LLC now owns 312 shares of the company's stock worth $29,000 after purchasing an additional 263 shares during the period. Ridgewood Investments LLC purchased a new stake in PriceSmart in the first quarter worth about $42,000. Heck Capital Advisors LLC purchased a new stake in PriceSmart in the fourth quarter worth about $53,000. Fifth Third Bancorp grew its holdings in PriceSmart by 119.7% in the first quarter. Fifth Third Bancorp now owns 635 shares of the company's stock worth $56,000 after purchasing an additional 346 shares during the period. Finally, First Horizon Advisors Inc. grew its holdings in PriceSmart by 24.3% in the first quarter. First Horizon Advisors Inc. now owns 654 shares of the company's stock worth $57,000 after purchasing an additional 128 shares during the period. Hedge funds and other institutional investors own 80.46% of the company's stock.

Analyst Ratings Changes

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

Insider Activity

In other news, EVP Francisco Velasco sold 550 shares of the company's stock in a transaction that occurred 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 transaction, the executive vice president owned 77,908 shares in the company, valued at approximately $8,282,399.48. This represents a 0.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 17.10% of the company's stock.

PriceSmart Stock Down 1.1%

Shares of NASDAQ PSMT traded down $1.24 during midday trading on Thursday, hitting $107.54. The stock had a trading volume of 215,253 shares, compared to its average volume of 185,334. The business's 50 day moving average is $107.24 and its 200-day moving average is $99.13. The company has a market cap of $3.31 billion, a P/E ratio of 22.69 and a beta of 0.77. PriceSmart, Inc. has a 52 week low of $81.25 and a 52 week high of $114.01. 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 issued its 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 firm had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.31 billion. PriceSmart had a return on equity of 12.46% and a net margin of 2.82%.The company's quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.08 EPS. As a group, analysts predict that PriceSmart, Inc. will post 5.28 EPS for the current year.

About PriceSmart

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.