PriceSmart, Inc. (NASDAQ:PSMT) Sees Large Growth in Short Interest

PriceSmart, Inc. (NASDAQ:PSMT - Get Free Report) was the recipient of a large growth in short interest during the month of August. As of August 15th, there was short interest totaling 1,760,000 shares, agrowthof31.3% from the July 31st total of 1,340,000 shares. Based on an average daily volume of 215,500 shares, the short-interest ratio is presently 8.2 days. Approximately6.9% of the shares of the stock are sold short. Approximately6.9% of the shares of the stock are sold short. Based on an average daily volume of 215,500 shares, the short-interest ratio is presently 8.2 days.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded PriceSmart from a "hold" rating to a "buy" rating in a research report on Friday.

Insider Activity

In related news, EVP Francisco Velasco sold 550 shares of PriceSmart stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $106.31, for a total transaction of $58,470.50. Following the completion of the transaction, the executive vice president directly owned 77,908 shares in the company, valued at $8,282,399.48. The trade was a 0.70% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 17.10% of the stock is owned by corporate insiders.

Institutional Trading of PriceSmart

Hedge funds and other institutional investors have recently bought and sold shares of the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in PriceSmart in the 2nd quarter worth approximately $28,000. Geneos Wealth Management Inc. grew its stake in shares of 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 buying an additional 252 shares during the period. Steward Partners Investment Advisory LLC grew its stake in shares of PriceSmart by 52.5% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 363 shares of the company's stock valued at $38,000 after buying an additional 125 shares during the period. Ridgewood Investments LLC purchased a new stake in shares of PriceSmart during the 1st quarter valued at $42,000. Finally, Osaic Holdings Inc. grew its stake in shares of PriceSmart by 57.2% during the 2nd quarter. Osaic Holdings Inc. now owns 492 shares of the company's stock valued at $52,000 after buying an additional 179 shares during the period. 80.46% of the stock is owned by hedge funds and other institutional investors.

PriceSmart Stock Up 1.8%

PSMT stock opened at $111.98 on Tuesday. The stock has a market capitalization of $3.44 billion, a P/E ratio of 23.62 and a beta of 0.79. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.50 and a current ratio of 1.28. PriceSmart has a one year low of $81.25 and a one year high of $114.01. The company has a 50 day moving average price of $108.40 and a two-hundred day moving average price of $100.68.

PriceSmart (NASDAQ:PSMT - Get Free Report) last released its earnings results 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 during the quarter, compared to analysts' expectations of $1.31 billion. PriceSmart had a return on equity of 12.46% and a net margin of 2.82%.The firm's revenue was up 7.1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.08 earnings per share. As a group, sell-side analysts expect that PriceSmart will post 5.28 EPS for the current year.

PriceSmart Company Profile

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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