PriceSmart, Inc. (NASDAQ:PSMT) Short Interest Up 31.3% in August

Key Points

• PriceSmart, Inc. saw a significant increase in short interest, rising by 31.3% to 1,760,000 shares as of August 15th.
• The company reported $1.14 EPS for its last quarter, missing estimates of $1.16, with revenue of $1.32 billion, which was above analyst expectations.
• PriceSmart's stock performance improved, closing at $118.10 recently, with a 52-week high of $120.99 and a market capitalization of $3.63 billion.

PriceSmart, Inc. (NASDAQ:PSMT - Get Free Report) saw a large increase in short interest during the month of August. As of August 15th, there was short interest totaling 1,760,000 shares, an increase of 31.3% from the July 31st total of 1,340,000 shares. Based on an average trading volume of 215,500 shares, the days-to-cover ratio is currently 8.2 days. Approximately 6.9% of the shares of the company are short sold. Approximately 6.9% of the shares of the company are short sold. Based on an average trading volume of 215,500 shares, the days-to-cover ratio is currently 8.2 days.

Insider Activity

In related news, EVP Michael Mccleary sold 9,754 shares of PriceSmart stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $110.62, for a total value of $1,078,987.48. Following the completion of the sale, the executive vice president owned 47,082 shares of the company's stock, valued at approximately $5,208,210.84. This trade represents a 17.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Francisco Velasco sold 550 shares of PriceSmart stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $106.31, for a total value of $58,470.50. Following the completion of the sale, the executive vice president directly owned 77,908 shares of the company's stock, valued at approximately $8,282,399.48. This trade represents a 0.70% decrease in their position. The disclosure for this sale can be found here. Company insiders own 17.10% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Principal Financial Group Inc. grew its holdings in shares of PriceSmart by 2.3% during the first quarter. Principal Financial Group Inc. now owns 131,194 shares of the company's stock worth $11,525,000 after purchasing an additional 3,003 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in PriceSmart by 68.1% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 4,759 shares of the company's stock worth $418,000 after buying an additional 1,928 shares during the last quarter. New York State Teachers Retirement System lifted its position in PriceSmart by 19.3% in the 1st quarter. New York State Teachers Retirement System now owns 10,785 shares of the company's stock worth $947,000 after buying an additional 1,742 shares during the last quarter. Harbor Capital Advisors Inc. lifted its position in PriceSmart by 522.5% in the 1st quarter. Harbor Capital Advisors Inc. now owns 113,268 shares of the company's stock worth $9,951,000 after buying an additional 95,073 shares during the last quarter. Finally, GAMMA Investing LLC lifted its position in PriceSmart by 7,364.9% in the 1st quarter. GAMMA Investing LLC now owns 69,050 shares of the company's stock worth $6,066,000 after buying an additional 68,125 shares during the last quarter. Hedge funds and other institutional investors own 80.46% of the company's stock.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded PriceSmart from a "hold" rating to a "buy" rating in a research note on Friday, September 5th.

PriceSmart Price Performance

Shares of PSMT traded down $3.52 during trading hours on Friday, reaching $114.58. 352,502 shares of the company's stock traded hands, compared to its average volume of 195,694. PriceSmart has a 12 month low of $81.25 and a 12 month high of $120.99. The company has a current ratio of 1.28, a quick ratio of 0.50 and a debt-to-equity ratio of 0.07. The stock has a market cap of $3.52 billion, a PE ratio of 24.17 and a beta of 0.79. The firm's 50 day simple moving average is $108.98 and its 200-day simple moving average is $101.24.

PriceSmart (NASDAQ:PSMT - Get Free Report) last issued its quarterly earnings data on Thursday, July 10th. The company reported $1.14 EPS for the quarter, missing the consensus estimate of $1.16 by ($0.02). PriceSmart had a return on equity of 12.46% and a net margin of 2.82%.The business had revenue of $1.32 billion for the quarter, compared to analysts' expectations of $1.31 billion. During the same period in the previous year, the firm posted $1.08 EPS. The firm's revenue for the quarter was up 7.1% compared to the same quarter last year. Equities analysts expect that PriceSmart will post 5.28 EPS for the current year.

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.