Insider Selling: PriceSmart (NASDAQ:PSMT) Director Sells 1,000 Shares

Key Points

• PriceSmart Director Sherry Bahrambeygui sold 1,000 shares at an average price of $192.66, worth $192,660, reducing her holdings by 2.66% to 36,649 shares.
• PriceSmart shares declined 0.4% to $191.82, while trading near their 12-month high of $199.84; the company has a $5.92 billion market capitalization and a consensus “Buy” rating.
• In its latest quarter, PriceSmart reported 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.

PriceSmart, Inc. (NASDAQ:PSMT - Get Free Report) Director Sherry Bahrambeygui sold 1,000 shares of the business's stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $192.66, for a total value of $192,660.00. Following the sale, the director owned 36,649 shares of the company's stock, valued at approximately $7,060,796.34. This represents a 2.66% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

PriceSmart Stock Down 0.4%

Shares of PSMT traded down $0.74 during trading hours on Thursday, reaching $191.82. The stock had a trading volume of 24,182 shares, compared to its average volume of 253,351. PriceSmart, Inc. has a 12 month low of $105.46 and a 12 month high of $199.84. The firm has a 50-day simple moving average of $183.25 and a 200 day simple moving average of $162.61. The company has a current ratio of 1.28, a quick ratio of 0.53 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $5.92 billion, a price-to-earnings ratio of 36.82 and a beta of 0.76.

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

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings downgraded PriceSmart from a "buy (b+)" rating to a "buy (b)" rating in a research note on Friday, May 29th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has a consensus rating of "Buy".

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. State Street Corp increased its position in shares of PriceSmart by 2.4% during the 2nd quarter. State Street Corp now owns 1,045,998 shares of the company's stock valued at $109,872,000 after purchasing an additional 24,512 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of PriceSmart by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 763,261 shares of the company's stock worth $93,640,000 after buying an additional 7,095 shares during the last quarter. Invesco Ltd. grew its position in PriceSmart by 13.3% during the third quarter. Invesco Ltd. now owns 624,985 shares of the company's stock valued at $75,742,000 after buying an additional 73,419 shares during the period. Morgan Stanley increased its holdings in PriceSmart by 1.7% during the fourth quarter. Morgan Stanley now owns 495,799 shares of the company's stock worth $60,820,000 after buying an additional 8,428 shares during the last quarter. Finally, Pertento Partners LLP increased its holdings in PriceSmart by 17.3% during the fourth quarter. Pertento Partners LLP now owns 488,387 shares of the company's stock worth $59,910,000 after buying an additional 71,879 shares during the last quarter. Hedge funds and other institutional investors own 80.46% of the company's stock.

PriceSmart Company 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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