PriceSmart (NASDAQ:PSMT) COO Sells 11,834 Shares of Stock

Key Points

• COO John Hildebrandt sold 11,834 PriceSmart shares for about $1.99 million at an average price of $168.23, reducing his position by 10.42%; he retained 101,699 shares.
• PriceSmart shares fell 3.7% to $160.61. The company reported quarterly EPS of $1.21, below the $1.27 consensus, while revenue of $1.52 billion topped estimates and rose 13.9% year over year.
• Analysts maintained a consensus Buy rating, with an average price target of $198.

PriceSmart, Inc. (NASDAQ:PSMT - Get Free Report) COO John Hildebrandt sold 11,834 shares of the stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $168.23, for a total value of $1,990,833.82. Following the sale, the chief operating officer directly owned 101,699 shares in the company, valued at $17,108,822.77. This trade represents a 10.42% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

PriceSmart Stock Down 3.7%

Shares of NASDAQ:PSMT traded down $6.16 during trading on Tuesday, reaching $160.61. The stock had a trading volume of 293,127 shares, compared to its average volume of 251,547. PriceSmart, Inc. has a one year low of $114.38 and a one year high of $199.84. The company has a market capitalization of $4.97 billion, a P/E ratio of 29.74 and a beta of 0.80. The company has a current ratio of 1.24, a quick ratio of 0.53 and a debt-to-equity ratio of 0.07. The firm's 50-day simple moving average is $170.54 and its 200 day simple moving average is $166.45.

PriceSmart (NASDAQ:PSMT - Get Free Report) last posted its quarterly earnings data on Monday, October 26th. The company reported $1.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.27 by ($0.06). PriceSmart had a net margin of 2.83% and a return on equity of 12.15%. The company had revenue of $1.52 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same quarter last year, the company earned $1.02 EPS. The business's revenue was up 13.9% compared to the same quarter last year.

Hedge Funds Weigh In On PriceSmart

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PSMT. Parallel Advisors LLC grew its position in shares of PriceSmart by 24.5% in the 3rd quarter. Parallel Advisors LLC now owns 756 shares of the company's stock valued at $128,000 after buying an additional 149 shares during the last quarter. Heritage Family Offices LLP acquired a new position in PriceSmart in the third quarter valued at $66,000. Calamos Wealth Management LLC boosted its stake in PriceSmart by 5.7% in the third quarter. Calamos Wealth Management LLC now owns 33,298 shares of the company's stock valued at $5,631,000 after acquiring an additional 1,807 shares in the last quarter. Calamos Advisors LLC grew its holdings in shares of PriceSmart by 29.6% during the third quarter. Calamos Advisors LLC now owns 139,224 shares of the company's stock worth $23,544,000 after purchasing an additional 31,823 shares during the last quarter. Finally, Integrity Alliance LLC. purchased a new position in shares of PriceSmart during the third quarter worth about $508,000. Institutional investors and hedge funds own 80.46% of the company's stock.

Analysts Set New Price Targets

PSMT has been the subject of a number of analyst reports. Weiss Ratings reaffirmed a "buy (b)" rating on shares of PriceSmart in a report on Wednesday, August 26th. Jefferies Financial Group restated a "buy" rating and issued a $198.00 price objective on shares of PriceSmart in a research report on Wednesday, August 12th. Two analysts have rated the stock with a Buy rating. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $198.00.

PriceSmart Company Profile

PriceSmart, Inc operates membership warehouse clubs serving consumers and businesses in Latin America and the Caribbean. The company offers a broad selection of products at value-oriented prices, including groceries, fresh foods, beverages, household supplies, apparel, appliances, electronics, furniture and other general merchandise.

Through its warehouse clubs and digital commerce platforms, PriceSmart provides shopping and delivery options designed for both individual members and small businesses.

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