Punch & Associates Investment Management Inc. Takes $33.47 Million Position in PriceSmart, Inc. $PSMT

Key Points

• Punch & Associates purchased 171,348 PriceSmart shares worth approximately $33.47 million, giving it a 0.56% stake and making the stock 1.7% of its portfolio. Institutional investors collectively own 80.46% of the company.
• PriceSmart reported quarterly revenue of $1.48 billion, up 12.5% year over year and above estimates, but earnings per share of $1.28 fell short of the $1.32 consensus forecast.
• PSMT shares opened at $175.42, below the 52-week high of $199.84. Analysts maintain a consensus “Buy” rating with a $198 price target, while insiders sold 7,737 shares worth about $1.51 million over the past quarter.

Punch & Associates Investment Management Inc. purchased a new position in PriceSmart, Inc. (NASDAQ:PSMT - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 171,348 shares of the company's stock, valued at approximately $33,471,000. PriceSmart accounts for 1.7% of Punch & Associates Investment Management Inc.'s holdings, making the stock its 15th biggest position. Punch & Associates Investment Management Inc. owned approximately 0.56% of PriceSmart at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Geneos Wealth Management Inc. increased its stake in PriceSmart by 560.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 297 shares of the company's stock worth $26,000 after buying an additional 252 shares during the period. UMB Bank n.a. grew its stake in PriceSmart by 76.0% in the 4th quarter. UMB Bank n.a. now owns 227 shares of the company's stock worth $28,000 after acquiring an additional 98 shares in the last quarter. CENTRAL TRUST Co purchased a new position in shares of PriceSmart during the fourth quarter worth approximately $32,000. Bell Investment Advisors Inc purchased a new position in shares of PriceSmart during the second quarter worth approximately $40,000. Finally, Osaic Holdings Inc. raised its stake in shares of PriceSmart by 57.2% during the second quarter. Osaic Holdings Inc. now owns 492 shares of the company's stock valued at $52,000 after acquiring an additional 179 shares in the last quarter. Hedge funds and other institutional investors own 80.46% of the company's stock.

PriceSmart Stock Performance

Shares of NASDAQ:PSMT opened at $175.42 on Thursday. The company has a market capitalization of $5.41 billion, a price-to-earnings ratio of 33.67 and a beta of 0.76. PriceSmart, Inc. has a 52 week low of $106.87 and a 52 week high of $199.84. The company has a quick ratio of 0.53, a current ratio of 1.28 and a debt-to-equity ratio of 0.08. The firm has a 50 day moving average of $186.06 and a 200 day moving average of $167.93.

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

Insider Buying and Selling at PriceSmart

In other PriceSmart news, EVP Francisco Velasco sold 338 shares of PriceSmart stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $177.87, for a total value of $60,120.06. Following the transaction, the executive vice president owned 75,321 shares in the company, valued at $13,397,346.27. The trade was a 0.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Sherry S. Bahrambeygui sold 3,499 shares of the business's stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $197.38, for a total transaction of $690,632.62. Following the completion of the transaction, the director owned 32,150 shares of the company's stock, valued at $6,345,767. This represents a 9.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 7,737 shares of company stock worth $1,506,176 over the last quarter. Insiders own 17.00% of the company's stock.

Analyst Upgrades and Downgrades

PSMT has been the topic of several research reports. Jefferies Financial Group restated a "buy" rating and set a $198.00 price objective on shares of PriceSmart in a report on Wednesday, August 12th. Weiss Ratings downgraded PriceSmart from a "buy (b+)" rating to a "buy (b)" rating in a research report on Friday, May 29th. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, PriceSmart has an average rating of "Buy" and a consensus target price of $198.00.

PriceSmart Profile

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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