Punch & Associates Investment Management Inc. Invests $13.11 Million in PriceSmart, Inc. $PSMT

Key Points

• Punch & Associates Investment Management Inc. has acquired a new stake in PriceSmart, purchasing 149,222 shares valued at approximately $13.1 million, which constitutes about 0.49% of the company's stock.
• Wall Street analysts have upgraded PriceSmart's rating from "hold" to "buy," indicating a positive outlook for the company's stock.
• In recent trading, PriceSmart's stock opened at $109.97, with performance metrics including a market cap of $3.38 billion and a PE ratio of 23.20.

Punch & Associates Investment Management Inc. acquired a new stake in shares of PriceSmart, Inc. (NASDAQ:PSMT - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 149,222 shares of the company's stock, valued at approximately $13,109,000. Punch & Associates Investment Management Inc. owned approximately 0.49% of PriceSmart as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. American Century Companies Inc. increased its stake in PriceSmart by 5.7% during the 1st quarter. American Century Companies Inc. now owns 1,300,921 shares of the company's stock valued at $114,286,000 after purchasing an additional 70,225 shares in the last quarter. Copeland Capital Management LLC increased its stake in PriceSmart by 25.8% during the 1st quarter. Copeland Capital Management LLC now owns 782,353 shares of the company's stock valued at $68,730,000 after purchasing an additional 160,656 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in PriceSmart by 0.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 456,915 shares of the company's stock worth $40,140,000 after buying an additional 3,039 shares during the last quarter. Nuveen LLC bought a new position in PriceSmart during the 1st quarter valued at about $36,685,000. Finally, Northern Trust Corp lifted its stake in PriceSmart by 2.1% during the 1st quarter. Northern Trust Corp now owns 362,018 shares of the company's stock valued at $31,803,000 after acquiring an additional 7,298 shares during the period. 80.46% of the stock is currently owned by institutional investors.

PriceSmart Stock Performance

PSMT traded up $7.10 during midday trading on Thursday, hitting $118.10. 451,581 shares of the company traded hands, compared to its average volume of 234,687. 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 firm has a market capitalization of $3.63 billion, a PE ratio of 24.92 and a beta of 0.79. The company's 50-day moving average is $108.59 and its 200 day moving average is $100.82. PriceSmart, Inc. has a 52 week low of $81.25 and a 52 week high of $120.99.

PriceSmart (NASDAQ:PSMT - Get Free Report) last released its quarterly 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 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 revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.08 earnings per share. On average, research analysts expect that PriceSmart, Inc. will post 5.28 EPS for the current year.

Insider Activity

In other PriceSmart news, EVP Francisco Velasco sold 550 shares of the business's stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $106.31, for a total transaction of $58,470.50. Following the completion of the sale, the executive vice president directly owned 77,908 shares in the company, valued at $8,282,399.48. The trade was a 0.70% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 17.10% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded shares of PriceSmart from a "hold" rating to a "buy" rating in a research note on Friday, September 5th.

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.