Punch & Associates Investment Management Inc. Buys New Stake 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. bought a new stake in shares of PriceSmart, Inc. (NASDAQ:PSMT - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 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 & Exchange Commission.

Several other hedge funds have also modified their holdings of the company. Ridgewood Investments LLC purchased a new position in shares of PriceSmart in the 1st quarter worth $42,000. Quarry LP purchased a new position in shares of PriceSmart in the 1st quarter worth $49,000. Heck Capital Advisors LLC purchased a new position in shares of PriceSmart in the 4th quarter worth $53,000. Fifth Third Bancorp grew its stake in shares of PriceSmart by 119.7% in the 1st quarter. Fifth Third Bancorp now owns 635 shares of the company's stock worth $56,000 after buying an additional 346 shares in the last quarter. Finally, First Horizon Advisors Inc. grew its stake in shares of PriceSmart by 24.3% in the 1st quarter. First Horizon Advisors Inc. now owns 654 shares of the company's stock worth $57,000 after buying an additional 128 shares in the last quarter. 80.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at PriceSmart

In other news, EVP Francisco Velasco sold 550 shares of the stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $106.31, for a total value of $58,470.50. Following the transaction, the executive vice president directly owned 77,908 shares of the company's stock, 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 17.10% of the company's stock.

PriceSmart Trading Up 0.4%

NASDAQ PSMT opened at $109.97 on Friday. 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 cap of $3.38 billion, a PE ratio of 23.20 and a beta of 0.79. The company has a 50 day moving average price of $108.27 and a 200 day moving average price of $100.36. PriceSmart, Inc. has a 52 week low of $81.25 and a 52 week high of $114.01.

PriceSmart (NASDAQ:PSMT - Get Free Report) last posted its quarterly earnings data on Thursday, July 10th. The company reported $1.14 EPS for the quarter, missing the consensus estimate 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 return on equity of 12.46% and a net margin of 2.82%.The company's revenue was up 7.1% compared to the same quarter last year. During the same quarter last year, the firm earned $1.08 EPS. As a group, sell-side analysts forecast that PriceSmart, Inc. will post 5.28 EPS for the current fiscal 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.

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