Vest Financial LLC Purchases 8,224 Shares of PriceSmart, Inc. $PSMT

Key Points

• Vest Financial LLC has increased its stake in PriceSmart, Inc. by 22% during the second quarter, acquiring an additional 8,224 shares to reach a total of 45,552 shares valued at approximately $4.79 million.
• PriceSmart stock has seen a significant 4.1% increase, currently trading at $123.51, with a market cap of $3.80 billion and a price-to-earnings ratio of 26.06.
• Insider transactions included EVP Michael Mccleary selling 9,754 shares at an average price of $110.62, reducing his position by 17.16%.

Vest Financial LLC raised its position in shares of PriceSmart, Inc. (NASDAQ:PSMT - Free Report) by 22.0% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 45,552 shares of the company's stock after purchasing an additional 8,224 shares during the period. Vest Financial LLC owned about 0.15% of PriceSmart worth $4,785,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of PSMT. Geneos Wealth Management Inc. raised its position in PriceSmart by 560.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 297 shares of the company's stock valued at $26,000 after purchasing an additional 252 shares in the last quarter. Ridgewood Investments LLC bought a new stake in PriceSmart during the 1st quarter valued at $42,000. Quarry LP bought a new stake in PriceSmart during the 1st quarter valued at $49,000. USA Financial Formulas bought a new stake in PriceSmart during the 2nd quarter valued at $53,000. Finally, Fifth Third Bancorp raised its position in PriceSmart by 119.7% during the 1st quarter. Fifth Third Bancorp now owns 635 shares of the company's stock valued at $56,000 after purchasing an additional 346 shares in the last quarter. 80.46% of the stock is owned by institutional investors.

PriceSmart Stock Up 4.1%

Shares of PSMT stock opened at $123.51 on Tuesday. PriceSmart, Inc. has a 1-year low of $81.25 and a 1-year high of $124.59. The stock's fifty day moving average price is $114.14 and its 200 day moving average price is $106.24. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.28 and a quick ratio of 0.50. The company has a market cap of $3.80 billion, a price-to-earnings ratio of 26.06 and a beta of 0.83.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on PSMT. Weiss Ratings reiterated a "buy (b)" rating on shares of PriceSmart in a report on Wednesday, October 8th. Wall Street Zen downgraded PriceSmart from a "buy" rating to a "hold" rating in a report on Friday, September 26th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company currently has an average rating of "Buy".

Insider Buying and Selling at PriceSmart

In related news, EVP Michael Mccleary sold 9,754 shares of the business's stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of $110.62, for a total transaction of $1,078,987.48. Following the transaction, the executive vice president directly owned 47,082 shares in the company, valued at $5,208,210.84. The trade was a 17.16% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Francisco Velasco sold 550 shares of the business's stock in a transaction on Monday, October 6th. The stock was sold at an average price of $122.82, for a total value of $67,551.00. Following the transaction, the executive vice president owned 80,548 shares in the company, valued at approximately $9,892,905.36. This trade represents a 0.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. 17.10% of the stock is owned by insiders.

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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